Seachoice (Scandinavia) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02145416 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

SEACHOICE (SCANDINAVIA) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C L B Niven

U Wallius

R Gullenborn

M McNamee

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

BUSINESS ADDRESS:

Capel Court

107 The Street

Capel St Mary

Ipswich

Suffolk

IP9 2EH

REGISTERED NUMBER:

02145416 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

CURRENT ASSETS

12,913

Debtors

5

15,200

9,757

Cash at bank

16,967

22,670

32,167

CREDITORS

64,105

Amounts falling due within one year

6

56,248

(41,435

)

NET CURRENT LIABILITIES

(24,081

)

(41,435

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,081

)

CAPITAL AND RESERVES

1,000

Called up share capital

8

1,000

(42,435

)

Retained earnings

(25,081

)

(41,435

)

SHAREHOLDERS' FUNDS

(24,081

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 June 2019 and were signed on its behalf by:

C L B Niven - Director

1.	STATUTORY INFORMATION

Seachoice (Scandinavia) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the value of work completed and invoiced during the year and after taking into

account the movement between the opening and closing trade debtor balances.

All sales were made to customers operating in the Baltic Sea.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when

required, that result in the recognition of financial assets and liabilities within the financial

statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase

contracts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Investments

Investments are included at cost. Profits or losses arising from disposals of fixed asset investments

are treated as part of the result from ordinary activities.

Going concern

The directors have considered the financial position of the company and its ability to continue to

trade having regard to the insolvent Balance Sheet as at the 31st December 2018. Due to continued

support the directors are satisfied that the company will remain as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2018

and 31 December 2018

17,692

DEPRECIATION

At 1 January 2018

and 31 December 2018

17,692

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

12,464

10,230

Other debtors

2,736

2,683

15,200

12,913

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

13,299

16,201

Taxation and social security

4,071

146

Other creditors

38,878

47,758

56,248

64,105

7.	SECURED DEBTS

HSBC Bank Plc hold an unlimited debenture dated 2nd April 2002 and a company unlimited

multilateral guarantee dated 15th June 2004 given by Seachoice Limited and Seachoice

(Scandinavia) Limited.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company purchased services from the following companies in which the directors

are materially interested as shareholders and / or directors. The services were purchased on a normal

trading basis:

31/12/18

31/12/17

£

£

C L B Niven - Zetachoice Limited

4,622

15,179

B H Houlihan - Seamarketing Limited

4,622

15,179

U Wallius & R Gullenborn - Swedish Film AB

9,668

30,358

18,912

60,716