REGISTERED NUMBER: 06698075 (England and Wales)

Financial Statements

for the Period 1 January 2024 to 30 December 2024

for

Seb Assets Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

59,022

-

Investments

5

867

-

Investment property

6

3,945,905

3,113,436

4,005,794

3,113,436

CURRENT ASSETS

Debtors

7

1,569,960

155,327

Cash at bank

3,103

9,981

1,573,063

165,308

CREDITORS

Amounts falling due within one year

8

4,001,930

2,531,585

NET CURRENT LIABILITIES

(2,428,867

)

(2,366,277

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,576,927

747,159

CREDITORS

Amounts falling due after more than one year

9

(20,428

)

-

PROVISIONS FOR LIABILITIES

(295,186

)

(18,312

)

NET ASSETS

1,261,313

728,847

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

11

663,978

134,218

Retained earnings

597,334

594,628

SHAREHOLDERS' FUNDS

1,261,313

728,847

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2025 and were signed by:

Mr N R Skinner - Director

1.	STATUTORY INFORMATION

Seb Assets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06698075

Registered office:

Amtri House

Hulley Road

Macclesfield

Cheshire

SK10 2NE

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, and therefore the financial statements have been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Rental income is recognised in the period it falls due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

76,570

At 30 December 2024

76,570

DEPRECIATION

Charge for period

17,548

At 30 December 2024

17,548

NET BOOK VALUE

At 30 December 2024

59,022

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

76,570

At 30 December 2024

76,570

DEPRECIATION

Charge for period

17,548

At 30 December 2024

17,548

NET BOOK VALUE

At 30 December 2024

59,022

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

867

At 30 December 2024

867

NET BOOK VALUE

At 30 December 2024

867

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

3,113,436

Additions

25,835

Revaluations

806,634

At 30 December 2024

3,945,905

NET BOOK VALUE

At 30 December 2024

3,945,905

At 31 December 2023

3,113,436

In the financial statements, investment property is recognised at fair value according to the fair value model, which reflects market conditions at end of the reporting period. The investment properties were revalued in the year by Keppie Massie, Chartered Surveyors, leading to an uplift in the valuation of the properties by £806,634. The directors believe that this is an accurate reflection of the fair value of the properties at the year ended 30 December 2024.

Fair value at 30 December 2024 is represented by:

£

Valuation in 2020

152,531

Valuation in 2024

806,634

Cost

2,986,740

3,945,905

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

584

-

Amounts owed by group undertakings

1,560,498

-

Other debtors

8,878

155,327

1,569,960

155,327

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

18,857

-

Trade creditors

306

9,449

Amounts owed to group undertakings

3,963,108

2,491,265

Taxation and social security

5,498

26,896

Other creditors

14,161

3,975

4,001,930

2,531,585

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

20,428

-

10.	SECURED DEBTS

The hire purchase liability is secured on the asset financed.

11.

RESERVES

Revaluation

reserve

£

At 1 January 2024

134,218

Revaluation

806,634

Deferred tax movement

(276,874

)

At 30 December 2024

663,978

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Thompson FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

13.	CONTINGENT LIABILITIES

There is a cross guarantee and debenture between the company, Ghekko Holdings Limited, Ghekko Limited and Seb World Limited.

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 December 2024 and the year ended 31 December 2023:

2024

2023

£

£

Mr N R Skinner

Balance outstanding at start of period

14,668

17,143

Amounts advanced

125,332

78,026

Amounts repaid

(140,000

)

(80,501

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

14,668

The loan was interest free and repayable on demand.

15.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16.	CONTROLLING PARTY

The parent of the smallest group for which consolidated financial statements are drawn up, of which the company, is a member is Seb World Limited, Amtri House, Hulley Road, Macclesfield, England, SK10 2NE.