ACCOUNTS - Final Accounts preparation

Registered number: 15901180

SEAGULL PROPERTIES (POWER) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2025


SEAGULL PROPERTIES (POWER) LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SEAGULL PROPERTIES (POWER) LIMITED
FOR THE PERIOD ENDED 31 AUGUST 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seagull Properties (Power) Limited for the period ended 31 August 2025 which comprise the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Seagull Properties (Power) Limited, as a body, in accordance with the terms of our engagement letter dated 15 September 2026. Our work has been undertaken solely to prepare for your approval the financial statements of Seagull Properties (Power) Limited and state those matters that we have agreed to state to the Board of Directors of Seagull Properties (Power) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seagull Properties (Power) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Seagull Properties (Power) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Seagull Properties (Power) Limited. You consider that Seagull Properties (Power) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Seagull Properties (Power) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Warrener Stewart

Harwood House

43 Harwood Road

London

SW6 4QP

Date: 15 September 2026

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SEAGULL PROPERTIES (POWER) LIMITED REGISTERED NUMBER:15901180

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

	2025
Note	£


Current assets
Work in progress		54,436
Debtors: amounts falling due within one year	5	2
		54,438
Creditors: amounts falling due within one year	6	(55,936)

Net (liabilities)/assets		(1,498)

Capital and reserves
Called up share capital		2
Profit and loss account		(1,500)
		(1,498)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

T B Curtis

Director

Date: 15 September 2026

The notes on pages 4 to 5 form part of these financial statements.

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SEAGULL PROPERTIES (POWER) LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 AUGUST 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
Comprehensive income for the period
Loss for the period	-	(1,500)	(1,500)
Contributions by and distributions to owners
Shares issued during the period	2	-	2
At 31 August 2025	2	(1,500)	(1,498)

The notes on pages 4 to 5 form part of these financial statements.

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SEAGULL PROPERTIES (POWER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2025

1.	General information

Seagull Properties (Power) Limited is a private company limited by shares and incorporated in England and Wales. Its principal activity is that of dealing in land and other development opportunities. The address of its principal place of business is 58 Grosvenor Street, London, W1K 3JB.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Work in progress

Work in progress represents the cost of options to purchase land and is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress includes labour and attributable overheads.

At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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SEAGULL PROPERTIES (POWER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2025

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			31 August
			2025
			No.

		Directors	2

4.	Work in progress
		2025
		£

	Work in progress (land options)	54,436
		54,436

Debtors

					2025
					£


	Called up share capital not paid	2

6.	Creditors: Amounts falling due within one year
		2025
		£

	Other creditors	54,436
	Accruals and deferred income	1,500
		55,936

Other creditors represents amounts owed to the directors of the company.

7.	Controlling party

Throughout the period, the company was controlled by M J Bellamy and T B Curtis, by virtue of their directorships and shareholdings.

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