Sealbourne Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03124004 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

Sealbourne Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

M B Sinclair

SECRETARY:

M B Sinclair

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

REGISTERED NUMBER:

03124004 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Tangible assets

4

-

316

CURRENT ASSETS

Debtors

5

70,142

70,142

Cash at bank

187

325

70,329

70,467

CREDITORS

Amounts falling due within one year

6

8,483

3,858

NET CURRENT ASSETS

61,846

66,609

TOTAL ASSETS LESS CURRENT LIABILITIES

61,846

66,925

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

61,746

66,825

SHAREHOLDERS' FUNDS

61,846

66,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 5 February 2020 and were signed by:

M B Sinclair - Director

1.	STATUTORY INFORMATION

Sealbourne 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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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 Statement of Financial Position date.

Deferred tax

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

statement of financial position 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.

Going concern

The accounts have been prepared under the going concern concept, as the director is of an opinion that the

company will be continuing to look for both investment and trading opportunities.

Financial instruments

Debtors - short term debtors are measured at transaction price, less any impairment.

Creditors - short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2018

and 31 May 2019

948

DEPRECIATION

At 1 June 2018

632

Charge for year

316

At 31 May 2019

948

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

316

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Prepayments

70,142

70,142

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Director's current account

5,611

859

Accrued expenses

2,872

2,999

8,483

3,858