Company Registration No. 10023482 (England and Wales)
Sealton Ltd
Unaudited accounts
for the year ended 29 February 2020
Sealton Ltd
Unaudited accounts
Contents
Sealton Ltd
Company Information
for the year ended 29 February 2020
Directors
Mr M Egerton
Mr M Seal
Company Number
10023482 (England and Wales)
Registered Office
Boyes Barn
Owslebury
Winchester
Hampshire
SO21 1LT
Sealton Ltd
Statement of financial position
as at
29 February 2020
Tangible assets
306,795
287,200
Cash at bank and in hand
7,776
3,570
Creditors: amounts falling due within one year
(171,365)
(73,235)
Net current liabilities
(94,258)
(16,334)
Total assets less current liabilities
212,537
270,866
Creditors: amounts falling due after more than one year
(99,670)
(128,770)
Net assets
112,867
142,096
Called up share capital
180,471
180,471
Profit and loss account
(67,604)
(38,375)
Shareholders' funds
112,867
142,096
For the year ending 29 February 2020 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 24 February 2021 and were signed on its behalf by
Mr M Egerton
Director
Company Registration No. 10023482
Sealton Ltd
Notes to the Accounts
for the year ended 29 February 2020
Sealton Ltd is a private company, limited by shares, registered in England and Wales, registration number 10023482. The registered office is Boyes Barn, Owslebury, Winchester, Hampshire, SO21 1LT.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2019
400,000
19,000
419,000
Additions
96,294
-
96,294
At 29 February 2020
496,294
19,000
515,294
At 1 March 2019
128,000
3,800
131,800
Charge for the year
73,659
3,040
76,699
At 29 February 2020
201,659
6,840
208,499
At 29 February 2020
294,635
12,160
306,795
At 28 February 2019
272,000
15,200
287,200
Sealton Ltd
Notes to the Accounts
for the year ended 29 February 2020
Other debtors
69,331
53,331
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
16,568
16,568
Obligations under finance leases and hire purchase contracts
-
14,714
Other creditors
136,316
30,000
Loans from directors
18,481
11,953
7
Creditors: amounts falling due after more than one year
2020
2019
Non-equity preference shares
88,000
100,000
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).