Registration number: 00582078

L Sealey & Son Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

L Sealey & Son Limited

Company Information

Directors

N L Sealey S D Simpson

Company secretary

N L Sealey

Registered office

Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Accountants

Burton Sweet Limited Chartered Accountants and Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

L Sealey & Son Limited

(Registration number: 00582078)
Balance Sheet
30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	49,758	48,286
Other financial assets	5	201	15,073
		49,959	63,359
Current assets
Stocks	6	61,510	31,035
Debtors	7	7,000	36,241
		68,510	67,276
Creditors: Amounts falling due within one year	8	(377,308)	(407,370)
Net current liabilities		(308,798)	(340,094)
Total assets less current liabilities		(258,839)	(276,735)
Creditors: Amounts falling due after more than one year	8	(152,746)	(73,195)
Net liabilities		(411,585)	(349,930)
Capital and reserves
Called up share capital		3,214	3,214
Retained earnings		(414,799)	(353,144)
Shareholders' deficit		(411,585)	(349,930)

L Sealey & Son Limited

(Registration number: 00582078)
Balance Sheet
30 April 2025

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 March 2026 and signed on its behalf by:
 

......................................... N L Sealey Company secretary and director

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Although shareholders funds show a negative balance at the year end, the accounts are prepared on a going concern basis in the light of the continued support of the directors and the company's bankers.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements	10% per annum reducing balance
Plant and machinery	25% per annum reducing balance
Motor vehicles	25% per annum reducing balance

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.

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value is based on
selling price less anticipated costs to completion and selling costs.

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.

Borrowings

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

4	Tangible assets

	Land and buildings £	Dairy Herd  £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 May 2024	129,017	19,418	98,761	114,658
Additions	-	-	-	10,000
Disposals	-	-	-	(54,852)
At 30 April 2025	129,017	19,418	98,761	69,806
Depreciation
At 1 May 2024	115,362	-	95,273	102,933
Charge for the year	1,366	-	872	5,145
Eliminated on disposal	-	-	-	(53,707)
At 30 April 2025	116,728	-	96,145	54,371
Carrying amount
At 30 April 2025	12,289	19,418	2,616	15,435
At 30 April 2024	13,655	19,418	3,488	11,725

	Total £
Cost or valuation
At 1 May 2024	361,854
Additions	10,000
Disposals	(54,852)
At 30 April 2025	317,002
Depreciation
At 1 May 2024	313,568
Charge for the year	7,383
Eliminated on disposal	(53,707)
At 30 April 2025	267,244
Carrying amount
At 30 April 2025	49,758
At 30 April 2024	48,286

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

Included within the net book value of land and buildings above is £12,289 (2024 - £13,655) in respect of freehold land and buildings.
 

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 May 2024	368	14,705	15,073
Disposals	(368)	(14,504)	(14,872)
At 30 April 2025	-	201	201
Impairment
Carrying amount
At 30 April 2025	-	201	201

6

Stocks

	2025 £	2024 £
Other inventories	61,510	31,035

7

Debtors

	2025 £	2024 £
Trade debtors	2,500	6,750
Other debtors	3,355	29,162
Prepayments	1,145	329
	7,000	36,241

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	343,049	347,149
Trade creditors		28,366	38,022
Accruals and deferred income		5,893	2,699
Other creditors		-	19,500
		377,308	407,370

Creditors: amounts falling due after more than one year

On the 15 February 1963 Lloyds Bank Limited secured a charge over leasehold property known as Redlands Farm, Milton, Clevedon, Evercreech, Somerset. The directors confirm that this loan was settled on 6 May 2026.

On 22 June 2011 Lloyds TSB plc registered a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fittings and plant and machinery. The directors confirm that this loan was settled on 6 May 2026.

On 6 May 2026 Ukal NO3 Limited registered two charges over Redlands Farm and all property or undertaking of the company.

L Sealey & Son Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2025

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	152,746	73,195

9	Loans and borrowings