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COMPANY REGISTRATION NUMBER: 10525726
SEA ISLAND ECOMMERCE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
SEA ISLAND ECOMMERCE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
SEA ISLAND ECOMMERCE LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
B A Shaw
Registered office
164 Old Brompton Road
London
SW5 0BA
Accountants
Colne Valley Business Services LLP t/a Cloke & Co
Chartered Certified Accountants
106-107 Dowgate Hill House
14-16 Dowgate Hill
London
EC4R 2SU
SEA ISLAND ECOMMERCE LIMITED
CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEA ISLAND ECOMMERCE LIMITED
YEAR ENDED 31st DECEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sea Island Ecommerce Limited for the year ended 31st December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Sea Island Ecommerce Limited in accordance with the terms of our engagement letter dated 15th February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Sea Island Ecommerce Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sea Island Ecommerce Limited and its director for our work or for this report.
It is your duty to ensure that Sea Island Ecommerce Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sea Island Ecommerce Limited. You consider that Sea Island Ecommerce Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Sea Island Ecommerce Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Colne Valley Business Services LLP t/a Cloke & Co Chartered Certified Accountants
106-107 Dowgate Hill House 14-16 Dowgate Hill London EC4R 2SU
1 September 2025
SEA ISLAND ECOMMERCE LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
2,756
Investments
6
60,000
60,000
--------
--------
62,756
60,000
CURRENT ASSETS
Stocks
171,113
216,104
Debtors
7
37,752
8,883
Cash at bank and in hand
85,969
61,066
---------
---------
294,834
286,053
CREDITORS: amounts falling due within one year
8
361,991
356,067
---------
---------
NET CURRENT LIABILITIES
67,157
70,014
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 4,401)
( 10,014)
-------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 4,501)
( 10,114)
-------
--------
SHAREHOLDERS DEFICIT
( 4,401)
( 10,014)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SEA ISLAND ECOMMERCE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 5 August 2025 , and are signed on behalf of the board by:
B A Shaw
Director
Company registration number: 10525726
SEA ISLAND ECOMMERCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 164 Old Brompton Road, London, SW5 0BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which assumes the continuation of the Company's activities for the foreseeable future. The directors have indicated that they will continue to support the company going forward.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1st January 2024
Additions
3,675
-------
At 31st December 2024
3,675
-------
Depreciation
At 1st January 2024
Charge for the year
919
-------
At 31st December 2024
919
-------
Carrying amount
At 31st December 2024
2,756
-------
At 31st December 2023
-------
6. Investments
Other investments other than loans
£
Cost
At 1st January 2024 and 31st December 2024
60,000
--------
Impairment
At 1st January 2024 and 31st December 2024
--------
Carrying amount
At 31st December 2024
60,000
--------
At 31st December 2023
60,000
--------
7. Debtors
2024
2023
£
£
Trade debtors
929
Other debtors
37,752
7,954
--------
-------
37,752
8,883
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,045
6,672
Other creditors
351,946
349,395
---------
---------
361,991
356,067
---------
---------
9. Related party transactions
The company is controlled by Allenshaw Services Limited by virtue of a majority shareholding. A director of the company is a director of Allenshaw Services Limited. During the year rent of £18,000 (2023 - £18,000) was paid by the company to Allenshaw Services Limited. During the year sales of £ nil (2023 - £4,046) were made to Allenshaw Services Limited. Debtors includes £nil (2023 - £nil) due from Allenshaw Services Limited. A director of the company is a director of St.Helena Trading (UK) Limited. Debtors includes £8,669 ( 2023 - £ nil) due from St.Helena Trading (UK) Limited. The loan is interest free and is repayable on demand. Creditors includes £345,888 (2023 - £344,734) due to Allenshaw Services Limited. The loan is interest free and is repayable on demand. A director of the company is a director of Blue Mountain Coffee Group Limited. Included within income is £ nil (2023 - £5,000) of consultancy fees from Blue Mountain Coffee Group Limited.