Company Registration No. 10023482 (England and Wales)
Sealton Ltd
Unaudited accounts
for the year ended 28 February 2022
Sealton Ltd
Unaudited accounts
Contents
Sealton Ltd
Company Information
for the year ended 28 February 2022
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
28 February 2022
Tangible assets
237,855
296,597
Inventories
58,000
42,675
Cash at bank and in hand
53,494
18,530
Creditors: amounts falling due within one year
(188,824)
(163,649)
Net current assets/(liabilities)
2,669
(22,445)
Total assets less current liabilities
240,524
274,152
Creditors: amounts falling due after more than one year
(94,200)
(104,000)
Net assets
146,324
170,152
Called up share capital
180,471
180,471
Profit and loss account
(34,147)
(10,319)
Shareholders' funds
146,324
170,152
For the year ending 28 February 2022 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 29 November 2022 and were signed on its behalf by
Mr M Seal
Director
Company Registration No. 10023482
Sealton Ltd
Notes to the Accounts
for the year ended 28 February 2022
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
Computer equipment
33% Straight Line
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2021
568,794
4,333
573,127
At 28 February 2022
568,794
4,333
573,127
At 1 March 2021
275,086
1,444
276,530
Charge for the year
58,742
-
58,742
At 28 February 2022
333,828
1,444
335,272
At 28 February 2022
234,966
2,889
237,855
At 28 February 2021
293,708
2,889
296,597
Sealton Ltd
Notes to the Accounts
for the year ended 28 February 2022
Amounts falling due within one year
Other debtors
79,999
79,999
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
21,127
21,127
Taxes and social security
8,190
1,525
Other creditors
79,797
112,316
Loans from directors
79,710
28,681
7
Creditors: amounts falling due after more than one year
2022
2021
Non-equity preference shares
64,000
64,000
8
Average number of employees
During the year the average number of employees was 0 (2021: 0).