Seya Labs Limited - Period Ending 2020-04-30

Seya Labs Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Balance Sheet	4 to 5
Notes to the Financial Statements	6 to 10

Seya Labs Limited

Company Information

Director

Ibrahim Karakurt

Registered office

33 Nicholas Way Northwood Middlesex HA6 2TR

Accountants

Lynton Foster Chartered Certified Accountants 33 Nicholas Way Northwood Middlesex HA6 2TR

Seya Labs Limited

Director's Report for the Period from 20 April 2019 to 30 April 2020

The director presents his report and the financial statements for the period from 20 April 2019 to 30 April 2020.

Incorporation

The company was incorporated and commenced trading on 20 April 2019.

Director of the company

The director who held office during the period was as follows:

Ibrahim Karakurt (appointed 20 April 2019)

Principal activity

The principal activity of the company is digital advertising agency.

Directors Responsibilities
The are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. In preparing these financial statements, the director is required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 19 April 2021 and signed on its behalf by:

.........................................
Ibrahim Karakurt
Director

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Seya Labs Limited
for the Period Ended 30 April 2020

We report on the accounts for the period ended 30 April 2020 set out on pages 4 to 10

As a member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at rulebook.accaglobal.com/ .

Responsibilities of Directors

As described on page 2, the company's director is responsible for the preparation of the accounts, and they consider that the company is exempt from an audit.

Basis of Opinion

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www. accaglobal.com/factsheet163.

Without performing an audit or detailed verification work our procedures consisted of comparing the accounts with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

•

the Accounts are in agreement with the accounting records kept by the Company under the Companies Act 2006 and generally accepted accounting principles.

•

having regard only to, and on the basis of, the information contained in those accounting records, the Accounts have been drawn up in a manner consistent with the accounting requirements specified in the Companies Act 2006; and the Financial Reporting Standard 102A - Small Entities and the company satisfied the conditions for exemption from an audit of the accounts for the year specified in 476 of the Act and did not at any time within that year, fall within any of the categories of companies not entitled to the exemption.

......................................

Lynton Foster
Chartered Certified Accountants
33 Nicholas Way
Northwood
Middlesex
HA6 2TR

19 April 2021

Seya Labs Limited

(Registration number: 11955353 )
Balance Sheet as at 30 April 2020

	Note	2020 £
Fixed assets
Tangible assets	4		2,424
Current assets
Debtors	5	51,916
Cash at bank and in hand		224,251
		276,167
Creditors: Amounts falling due within one year	6	(87,122)
Net current assets			189,045
Total assets less current liabilities			191,469
Provisions for liabilities			(461)
Net assets			191,008
Capital and reserves
Called up share capital		100
Profit and loss account		190,908
Total equity			191,008

For the financial period ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Seya Labs Limited

(Registration number: 11955353 )
Balance Sheet as at 30 April 2020

Approved and authorised by the director on 19 April 2021
 

.........................................

Ibrahim Karakurt

Director

Seya Labs Limited

Notes to the Financial Statements for the Period from 20 April 2019 to 30 April 2020

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
33 Nicholas Way
Northwood
Middlesex
HA6 2TR

The principal place of business is:
19 Argyle Road
Tottenham
London
N17 0BE
England

These financial statements were authorised for issue by the director on 19 April 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Seya Labs Limited

Notes to the Financial Statements for the Period from 20 April 2019 to 30 April 2020

Foreign currency transactions and balances

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances denominated in a foreign currency are translated into sterling at the exchange rates ruling on the Balance Sheet date.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture Fixtures and Fittings	Three to five years on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Seya Labs Limited

Notes to the Financial Statements for the Period from 20 April 2019 to 30 April 2020

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

Seya Labs Limited

Notes to the Financial Statements for the Period from 20 April 2019 to 30 April 2020

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	3,709	3,709
At 30 April 2020	3,709	3,709
Depreciation
Charge for the	1,285	1,285
At 30 April 2020	1,285	1,285
Carrying amount
At 30 April 2020	2,424	2,424

5

Debtors

	2020 £
Trade debtors	2,193
Other debtors	49,723
Total current trade and other debtors	51,916

6

Creditors

	2020 £
Due within one year
Trade creditors	9,760
Taxation and social security	68,285
Other creditors	9,077
	87,122

Seya Labs Limited

Notes to the Financial Statements for the Period from 20 April 2019 to 30 April 2020

7

Dividends

	2020
	£
Final dividend of £375.65 per ordinary share	37,565

8	Related party transactions

At the Balance Sheet date the Director was owed the sum of £1077 such monies advanced to the company on an interest free basis. In addition the company advanced to the Director the sum of £5,000 within the accounting period, repayable on demand and repaid after date, for which the Director accounted to the company for interest at the rate of 2.5% p.a.