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Registered number: 08918166
Seaprop Limited
Financial Statements
For The Year Ended 31 March 2025
THB LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08918166
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 406,222 408,175
Investment Properties 5 105,000 105,000
511,222 513,175
CURRENT ASSETS
Debtors 6 2,771 -
Cash at bank and in hand 38,401 28,383
41,172 28,383
Creditors: Amounts Falling Due Within One Year 7 (456,622 ) (451,331 )
NET CURRENT ASSETS (LIABILITIES) (415,450 ) (422,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 95,772 90,227
Creditors: Amounts Falling Due After More Than One Year 8 (50,000 ) (50,000 )
NET ASSETS 45,772 40,227
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 150,000 150,000
Profit and Loss Account (104,328 ) (109,873 )
SHAREHOLDERS' FUNDS 45,772 40,227
Page 1
Page 2
For the year ending 31 March 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Amanda Seagroatt
Director
01/10/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Seaprop Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08918166 . The registered office is 1&2 Studley Court Mews, Studley Court, Guildford Road, Chobham, GU24 8EB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No provide
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 400,000 9,291 14,760 9,431 433,482
Additions - - - 120 120
As at 31 March 2025 400,000 9,291 14,760 9,551 433,602
...CONTINUED
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Page 4
Depreciation
As at 1 April 2024 - 4,988 13,232 7,087 25,307
Provided during the period - 1,075 382 616 2,073
As at 31 March 2025 - 6,063 13,614 7,703 27,380
Net Book Value
As at 31 March 2025 400,000 3,228 1,146 1,848 406,222
As at 1 April 2024 400,000 4,303 1,528 2,344 408,175
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 and 31 March 2025 105,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 2,771 -
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 455,157 449,798
Taxation and social security 1,465 1,533
456,622 451,331
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans 50,000 50,000
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
10. Related Party Transactions
At the year end the company owed an amount of £448,007 (2024 : £440,702) to its directors.
Included within other loans is an amount of £50,000 payable to Mr J A Seagroatt, a director and a shareholder of the company.
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