REGISTERED NUMBER: 07960574 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th April 2025

for

MICHAEL SEARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr M A Seare

Mrs R L Seare

REGISTERED OFFICE:

38 Salisbury Road

Worthing

West Sussex

BN11 1RD

REGISTERED NUMBER:

07960574 (England and Wales)

ACCOUNTANTS:

MastersFuller

Chartered Certified Accountants

38 Salisbury Road

Worthing

West Sussex

BN11 1RD

FIXED ASSETS

Intangible assets

4

171,422

195,911

Tangible assets

5

102,675

120,215

274,097

316,126

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

6

2,500

-

Cash at bank

340

459

7,840

5,459

CREDITORS

Amounts falling due within one year

7

293,960

332,572

NET CURRENT LIABILITIES

(286,120

)

(327,113

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,023

)

(10,987

)

CREDITORS

Amounts falling due after more than one year

8

24,446

99,355

NET LIABILITIES

(36,469

)

(110,342

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(36,669

)

(110,542

)

(36,469

)

(110,342

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th December 2025 and were signed on its behalf by:

Dr M A Seare - Director

1.	STATUTORY INFORMATION

Michael Seare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2024

and 30th April 2025

489,779

AMORTISATION

At 1st May 2024

293,868

Charge for year

24,489

At 30th April 2025

318,357

NET BOOK VALUE

At 30th April 2025

171,422

At 30th April 2024

195,911

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st May 2024

35,891

187,416

223,307

Additions

-

10,032

10,032

At 30th April 2025

35,891

197,448

233,339

DEPRECIATION

At 1st May 2024

32,301

70,791

103,092

Charge for year

3,589

23,983

27,572

At 30th April 2025

35,890

94,774

130,664

NET BOOK VALUE

At 30th April 2025

1

102,674

102,675

At 30th April 2024

3,590

116,625

120,215

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

Plant and

machinery

etc

£

COST

At 1st May 2024

and 30th April 2025

38,134

DEPRECIATION

At 1st May 2024

8,136

Charge for year

6,000

At 30th April 2025

14,136

NET BOOK VALUE

At 30th April 2025

23,998

At 30th April 2024

29,998

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,500

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans & overdrafts

23,684

34,106

Hire purchase contracts

14,280

12,691

Trade creditors

19,368

22,905

Taxation and social security

169,816

193,156

Other creditors

66,812

69,714

293,960

332,572

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

15,629

Hire purchase contracts

-

14,280

Other creditors

24,446

69,446

24,446

99,355