Seyan Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI035283

Seyan Limited

Filleted Unaudited Financial Statements

31 October 2025

Seyan Limited

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	25,287	25,055
Investments	5	1,257,000	1,257,000
		------------	------------
		1,282,287	1,282,055

Current assets

Stocks		332,968	135,000
Debtors	6	3	2,253
Cash at bank and in hand		40,310	25,453
		---------	---------
		373,281	162,706

Creditors: amounts falling due within one year	7	1,213,944	1,025,262
		------------	------------
Net current liabilities		840,663	862,556
		------------	------------
Total assets less current liabilities		441,624	419,499

Creditors: amounts falling due after more than one year	8	–	16,992
		---------	---------
Net assets		441,624	402,507
		---------	---------

Capital and reserves

Called up share capital	3	3
Profit and loss account	441,621	402,504
	---------	---------
Shareholders funds	441,624	402,507
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Seyan Limited

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 29 October 2026 , and are signed on behalf of the board by:

Mr. Jonathan Clarke
Director

Company registration number: NI035283

Seyan Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 61 Malone Road, Belfast, BT9 6SA, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stock and work-in-progress

Stock and work-in-progress (WIP) are valued based on the percentage completed and estimated costs for completion. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock and WIP to its present location and condition. Stock and WIP include property held for development.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Motor vehicles
	£
Cost
At 1 November 2024	35,073
Additions	12,000
	--------
At 31 October 2025	47,073
	--------
Depreciation
At 1 November 2024	10,018
Charge for the year	11,768
	--------
At 31 October 2025	21,786
	--------
Carrying amount
At 31 October 2025	25,287
	--------
At 31 October 2024	25,055
	--------

5. Investments

	Other investments other than loans
	£
Cost
At 1 November 2024 and 31 October 2025	1,257,000
	------------
Impairment
At 1 November 2024 and 31 October 2025	–
	------------

Carrying amount
At 31 October 2025	1,257,000
	------------
At 31 October 2024	1,257,000
	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	2,250
Other debtors	3	3
	----	-------
	3	2,253
	----	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	46	2,344
Amounts owed to group undertakings and undertakings in which the company has a participating interest	398,298	125,298
Corporation tax	55,471	52,805
Social security and other taxes	10,407	8,555
Loan from M Clarke	399,423	399,423
Other creditors	350,299	436,837
	------------	------------
	1,213,944	1,025,262
	------------	------------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	–	16,992
	----	--------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr. Jonathan Clarke	( 302,368)	9,748	( 292,620)
	---------	-------	---------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr. Jonathan Clarke	( 492,588)	190,220	( 302,368)
	---------	---------	---------

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Chatvine Limited	27,000	( 32,000)	( 99,500)	( 126,500)
Dr Clarke Limited	–	1,200	1,200	1,200
Mac Upgrade Limited	( 50,000)	–	( 50,000)	–
Samsen Technology Limited	( 250,000)	–	250,000	–
	---------	--------	---------	---------

The director of Seyan Limited is also a director in Chatvine Limited, Samsen Technology Limited and Mac Upgrade Limited. It can then be assumed that they are in a position to operate significant control over Seyan Limited , Chatvine Limited, Samsen Technology Limited and Mac Upgrade Limited. The director of Dr Clarke Limited is an immediate family member of the director of Seyan Limited . The transactions within the year have been at an arm's length basis. There were no amounts written off as bad debts during the year, nor is there a requirement for a provision for doubtful debts in relation to Chatvine Limited, Samsen Technology Limited, Mac Upgrade Limited or Dr Clarke Limited.