7 Seafield Road Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08317053

Unaudited Financial Statements for the Year Ended 31 December 2018

for

7 SEAFIELD ROAD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Hartfield

REGISTERED OFFICE:

3rd Floor

126-134 Baker Street

London

W1U 6UE

REGISTERED NUMBER:

08317053

ACCOUNTANTS:

Butler & Co LLP

Chartered Accountants

Third Floor

126-134 Baker Street

London

W1U 6UE

FIXED ASSETS

Investment property

3

925,000

CURRENT ASSETS

Debtors

4

28,040

26,927

Cash at bank

4,036

1,845

32,076

28,772

CREDITORS

Amounts falling due within one year

5

603,122

640,073

NET CURRENT LIABILITIES

(571,046

)

(611,301

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

353,954

313,699

PROVISIONS FOR LIABILITIES

7

50,931

NET ASSETS

303,023

262,768

CAPITAL AND RESERVES

Called up share capital

8

1

Retained earnings

9

303,022

262,767

SHAREHOLDERS' FUNDS

303,023

262,768

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 director acknowledges his 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 authorised for issue by the director on 25 April 2019 and were signed by:

C Hartfield - Director

1.	STATUTORY INFORMATION

7 Seafield Road Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable net of Value Added Tax. Rent is recognised for the period for which it is

due.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

925,000

NET BOOK VALUE

At 31 December 2018

925,000

At 31 December 2017

925,000

Fair value at 31 December 2018 is represented by:

£

Valuation in 2016

925,000

If investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

Cost

656,941

Investment property was valued on an open market basis on 31 December 2016 by Goldin Lemcke .

In the opinion of the director, the fair value of the investment property as at 31 December 2018 was not

significantly different from the Net Book Value.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Other debtors

28,040

26,927

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Other loans (see note 6)

588,000

600,000

Trade creditors

1

-

Tax

10,146

3,777

Other creditors

1,000

Directors' current accounts

-

33,121

Accrued expenses

3,975

2,175

603,122

640,073

6.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

Amounts falling due within one year or on demand:

Other loans

588,000

600,000

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

Deferred tax

50,931

Deferred

tax

£

Balance at 1 January 2018

50,931

Balance at 31 December 2018

50,931

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

1

Ordinary

£1

1

9.

RESERVES

Retained earnings

Other reserves

Totals

£

As at 01 January 2017

45,639

Profit for the year

43,255

Dividends paid

(3,000

)

(3,000

)

Non-distributable reserves

217,128

As at 31 December 2018

85,894

217,128

303,022

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, an amount of £NIL (2017: £33,121) was owed to the director.

7 Seafield Road Limited - Accounts to registrar (filleted) - small 18.2

7 Seafield Road Limited - Accounts to registrar (filleted) - small 18.2