Company Registration No. 11994868 (England and Wales)
Silver Seas Construction Services Ltd
Unaudited accounts
for the year ended 31 May 2026
Silver Seas Construction Services Ltd
Unaudited accounts
Contents
Silver Seas Construction Services Ltd
Company Information
for the year ended 31 May 2026
Directors
Eleanor Waite
Stuart Michael Waite
Company Number
11994868 (England and Wales)
Registered Office
Silverseas
28 Albert Road
Cowes
Isle of Wight
PO31 8JU
England
Accountants
Vision Accounting
Fortis House
Cothey Way
Ryde
Isle of Wight
PO33 1QT
Silver Seas Construction Services Ltd
Statement of financial position
as at 31 May 2026
Tangible assets
349,729
184,306
Cash at bank and in hand
22,859
15,794
Creditors: amounts falling due within one year
(158,772)
(92,147)
Net current liabilities
(73,994)
(69,657)
Total assets less current liabilities
275,785
114,649
Creditors: amounts falling due after more than one year
(218,884)
(26,353)
Provisions for liabilities
Deferred tax
(21,600)
(35,018)
Called up share capital
2
1
Profit and loss account
35,299
53,277
Shareholders' funds
35,301
53,278
For the year ending 31 May 2026 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2026 and were signed on its behalf by
Stuart Michael Waite
Director
Company Registration No. 11994868
Silver Seas Construction Services Ltd
Notes to the Accounts
for the year ended 31 May 2026
Silver Seas Construction Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 11994868. The registered office is Silverseas, 28 Albert Road, Cowes, Isle of Wight, PO31 8JU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight-line
Fixtures & fittings
20% Straight-line
Computer equipment
33% Straight-line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at cost less accumulated impairment losses.
Silver Seas Construction Services Ltd
Notes to the Accounts
for the year ended 31 May 2026
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2025
311,447
33,201
1,208
345,856
Additions
292,079
1,317
4,233
297,629
Disposals
(200,027)
-
-
(200,027)
At 31 May 2026
403,499
34,518
5,441
443,458
At 1 June 2025
153,702
6,640
1,208
161,550
Charge for the year
36,387
6,640
1,176
44,203
On disposals
(112,024)
-
-
(112,024)
At 31 May 2026
78,065
13,280
2,384
93,729
At 31 May 2026
325,434
21,238
3,057
349,729
At 31 May 2025
157,745
26,561
-
184,306
5
Investments
Other investments
Valuation at 1 June 2025
-
Valuation at 31 May 2026
50
Investment in jointly controlled entity:
The Company holds a stake in Civectis Ltd, a company incorporated in England and Wales.
The Company considers Civectis Ltd to be a jointly controlled entity, with strategic financial and operating decisions requiring the agreement of the participating shareholders.
The investment is accounted for using the cost model in accordance with Section 15 of FRS 102 and is stated at cost less accumulated impairment losses.
Amounts falling due within one year
Accrued income and prepayments
17,507
-
Silver Seas Construction Services Ltd
Notes to the Accounts
for the year ended 31 May 2026
7
Creditors: amounts falling due within one year
2026
2025
Obligations under finance leases and hire purchase contracts
104,499
26,281
Loans from directors
52,827
61,087
8
Creditors: amounts falling due after more than one year
2026
2025
Obligations under finance leases and hire purchase contracts
205,220
26,353
9
Transactions with related parties
During the year, Civectis Ltd, a jointly controlled entity of the Company, advanced £13,664 to the Company by way of a intercompany loan.
At the reporting date, £13,664 was outstanding and included within creditors.
The loan is interest-free and has no fixed repayment date.
10
Average number of employees
During the year the average number of employees was 0 (2025: 0).