1 January 2024 false Taxfiler 2024.6 true 10405578business:PrivateLimitedCompanyLtd2024-01-012024-12-31 104055782023-12-31 104055782024-01-012024-12-31 10405578business:AuditExemptWithAccountantsReport2024-01-012024-12-31 10405578business:FilletedAccounts2024-01-012024-12-31 104055782024-12-31 10405578business:Director12024-01-012024-12-31 10405578business:Director22024-01-012024-12-31 10405578business:RegisteredOffice2024-01-012024-12-31 104055782023-12-31 10405578core:WithinOneYear2024-12-31 10405578core:WithinOneYear2023-12-31 10405578core:AfterOneYear2024-12-31 10405578core:AfterOneYear2023-12-31 10405578core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 10405578core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10405578core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 10405578core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10405578core:PreviouslyStatedAmount2024-12-31 10405578core:PreviouslyStatedAmount2023-12-31 10405578business:SmallEntities2024-01-012024-12-31 10405578countries:EnglandWales2024-01-012024-12-31 10405578core:PlantMachinery2024-01-012024-12-31 10405578core:MotorVehicles2024-01-012024-12-31 10405578core:FurnitureFittings2024-01-012024-12-31 10405578core:IntangibleAssetsOtherThanGoodwill2023-12-31 10405578core:IntangibleAssetsOtherThanGoodwill2024-12-31 10405578core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-31 10405578core:PlantMachinery2023-12-31 10405578core:MotorVehicles2023-12-31 10405578core:FurnitureFittings2023-12-31 10405578core:ComputerEquipment2023-12-31 10405578core:ComputerEquipment2024-01-012024-12-31 10405578core:PlantMachinery2024-12-31 10405578core:MotorVehicles2024-12-31 10405578core:FurnitureFittings2024-12-31 10405578core:ComputerEquipment2024-12-31 10405578business:OrdinaryShareClass12024-01-012024-12-31 10405578business:OrdinaryShareClass12023-01-012023-12-31 104055782023-01-012023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10405578 (England and Wales)
Sea Nettle Limited Unaudited accounts for the year ended 31 December 2024
Sea Nettle Limited Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
Sea Nettle Limited Company Information for the year ended 31 December 2024
Directors
Garett Garner Voecks Michele Marie Mellor Voecks
Company Number
10405578 (England and Wales)
Registered Office
11 Chetwynd Road London NW5 1BX England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
- 3 -
Sea Nettle Limited Accountants' report
Accountants' report to the board of directors of Sea Nettle Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sea Nettle Limited for the year ended 31 December 2024 as set out on pages 5 - 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sea Nettle Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sea Nettle Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sea Nettle Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sea Nettle Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sea Nettle Limited. You consider that Sea Nettle 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 accounts of Sea Nettle 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 accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 28 February 2025
- 4 -
Sea Nettle Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
18,150 
28,050 
Tangible assets
5
5,251 
7,231 
23,401 
35,281 
Current assets
Inventories
6
8,452 
9,603 
Debtors
7
33,665 
29,670 
Cash at bank and in hand
37,050 
67,098 
79,167 
106,371 
Creditors: amounts falling due within one year
8
(12,518)
(19,468)
Net current assets
66,649 
86,903 
Total assets less current liabilities
90,050 
122,184 
Creditors: amounts falling due after more than one year
9
(9,752)
(1,500)
Net assets
80,298 
120,684 
Capital and reserves
Called up share capital
10
2 
2 
Profit and loss account
80,296 
120,682 
Shareholders' funds
80,298 
120,684 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by
Garett Garner Voecks Director Company Registration No. 10405578
- 5 -
Sea Nettle Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Sea Nettle Limited is a private company, limited by shares, registered in England and Wales, registration number 10405578. The registered office is 11 Chetwynd Road, London, NW5 1BX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
- 6 -
Sea Nettle Limited Notes to the Accounts for the year ended 31 December 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
- 7 -
Sea Nettle Limited Notes to the Accounts for the year ended 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
99,000 
At 31 December 2024
99,000 
Amortisation
At 1 January 2024
70,950 
Charge for the year
9,900 
At 31 December 2024
80,850 
Net book value
At 31 December 2024
18,150 
At 31 December 2023
28,050 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
38,851 
17,620 
63,715 
739 
120,925 
Additions
1,958 
179 
- 
- 
2,137 
At 31 December 2024
40,809 
17,799 
63,715 
739 
123,062 
Depreciation
At 1 January 2024
35,716 
15,569 
61,670 
739 
113,694 
Charge for the year
2,289 
550 
1,278 
- 
4,117 
At 31 December 2024
38,005 
16,119 
62,948 
739 
117,811 
Net book value
At 31 December 2024
2,804 
1,680 
767 
- 
5,251 
At 31 December 2023
3,135 
2,051 
2,045 
- 
7,231 
6
Inventories
2024 
2023 
£ 
£ 
Finished goods
8,452 
9,603 
8,452 
9,603 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,665 
3,072 
Trade debtors
- 
910 
Accrued income and prepayments
10,000 
9,188 
13,665 
13,170 
Amounts falling due after more than one year
Other debtors
20,000 
16,500 
- 8 -
Sea Nettle Limited Notes to the Accounts for the year ended 31 December 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
5,004 
8,883 
Taxes and social security
7,350 
10,229 
Other creditors
- 
196 
Loans from directors
164 
160 
12,518 
19,468 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
9,752 
1,500 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Controlling party
There is no ultimate controlling party.
12
Average number of employees
During the year the average number of employees was 5 (2023: 5).
- 9 -