ACCOUNTS - Final Accounts preparation

Company registration number: 08316877

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	3 SEAFIELD ROAD LIMITED


3 SEAFIELD ROAD LIMITED REGISTERED NUMBER:08316877

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investment property	4		760,000		760,000
			760,000		760,000
Current assets
Debtors: amounts falling due within one year	5	23,794		23,326
Cash at bank and in hand		10,539		15,728
		34,333		39,054
Creditors: amounts falling due within one year	6	(392,238)		(420,887)
Net current liabilities			(357,905)		(381,833)
Total assets less current liabilities			402,095		378,167
Provisions for liabilities
Deferred tax		(62,215)		(62,215)
			(62,215)		(62,215)
Net assets			339,880		315,952

Capital and reserves
Called up share capital	100	100
Profit and loss account	339,780	315,852
	339,880	315,952

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3 SEAFIELD ROAD LIMITED REGISTERED NUMBER:08316877

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.

C Hartfield

Director

The notes on pages 3 to 5 form part of these financial statements.

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3 SEAFIELD ROAD LIMITED

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

3 Seafield Road Limited is a private company, limited by shares, incorporated in England and Wales, company
registration number 08316877. The address of the registered office is stated on the company's information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

As at the year end the company had net current liabilities of £357,905 (2023: £381,833). The director has stated that they are able to meet the company's creditors as they fall due. Therefore, it is the director’s opinion that the going concern basis of preparation is appropriate.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is generated by renting out an investment property and is
measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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3 SEAFIELD ROAD LIMITED

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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3 SEAFIELD ROAD LIMITED

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2024	760,000
	At 31 December 2024	760,000

The 2024 valuations were made by the director, on an open market value for existing use basis.

Debtors

					2024	2023
					£	£


Other debtors	23,794	23,326
	23,794	23,326

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	7,898	9,088
Other creditors	382,000	409,399
Accruals and deferred income	2,340	2,400
	392,238	420,887

Related party transactions

As at the balance sheet date, within other debtors, there is a balance owed of £23,326 (2023: £23,326) from companies under common control and of £468 (2023: £11,399 within other creditors) from the director. The loans have been provided interest free and is repayable on demand.
Additionally, within other creditors, there is a balance owed of £382,000 (2023: £409,399) due to connected parties. The loans have been provided interest free and are repayable on demand.

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