Jetseal Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

Registered number: 02405550

		31 August 2025		30 September 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		-		19,265

			-		19,265
CURRENT ASSETS
Stocks	6	-		205,409
Debtors	7	-		301,756
Cash at bank and in hand		529,357		268,286

		529,357		775,451
Creditors: Amounts Falling Due Within One Year	8	(7,000 )		(341,579 )

NET CURRENT ASSETS (LIABILITIES)			522,357		433,872

TOTAL ASSETS LESS CURRENT LIABILITIES			522,357		453,137

Creditors: Amounts Falling Due After More Than One Year	9		-		(40 )

NET ASSETS			522,357		453,097

CAPITAL AND RESERVES
Called up share capital	11		1,000		1,000
Income Statement			521,357		452,097

SHAREHOLDERS' FUNDS			522,357		453,097

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Jetseal Limited

Statement of Financial Position (continued)

As At 31 August 2025

For the period ending 31 August 2025 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Harilaos Leonidas

Director

30/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Jetseal Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02405550 . The registered office is Unit 2, 32-34 Station Close, Potters Bar, Hertfordshire, EN6 1TL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 15 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25
Motor Vehicles	25
Fixtures & Fittings	25

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

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Jetseal Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 August 2025

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 5 (2024: 5)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 October 2024	240,000
Disposals	(240,000 )

As at 31 August 2025	-

Amortisation
As at 1 October 2024	240,000
Disposals	(240,000 )

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	-

As at 1 October 2024	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 October 2024	48,894	185,201	234,095
Disposals	(48,894 )	(185,201 )	(234,095 )

As at 31 August 2025	-	-	-

Depreciation
As at 1 October 2024	48,366	166,464	214,830
Disposals	(48,366 )	(166,464 )	(214,830 )

As at 31 August 2025	-	-	-

Net Book Value
As at 31 August 2025	-	-	-

As at 1 October 2024	528	18,737	19,265

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Jetseal Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 August 2025

6. Stocks

	31 August 2025	30 September 2024
	£	£
Stock	-	205,409

7. Debtors

	31 August 2025	30 September 2024
	£	£
Due within one year
Trade debtors	-	245,862
Amounts owed by group undertakings	-	55,894

	-	301,756

8. Creditors: Amounts Falling Due Within One Year

	31 August 2025	30 September 2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	9,976
Trade creditors	-	197,144
Bank loans and overdrafts	-	16,607
Other creditors	7,000	75,843
Taxation and social security	-	42,009

	7,000	341,579

9. Creditors: Amounts Falling Due After More Than One Year

	31 August 2025	30 September 2024
	£	£
Other creditors	-	40

10. Obligations Under Finance Leases and Hire Purchase

	31 August 2025	30 September 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	9,976

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Jetseal Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 August 2025

11. Share Capital

	31 August 2025	30 September 2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

12. Directors Advances, Credits and Guarantees

The Company pays the Director and the Directors' pension fund an annual sum of £210,000 (2023: £210,000) for the use of two warehouses for the purpose of the business on a commercial basis.

	31 August 2025	30 September 2024
	£	£
Harilaos Leonidas	-	210,000

13. Ultimate Controlling Party

The company's ultimate controlling party is H Leonidas by virtue of his ownership of 100% of the issued share capital in the company.

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