James Seal and Son Limited - Accounts to registrar (filleted) - small 18.2
James Seal and Son Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 |
| FOR |
| JAMES SEAL AND SON LIMITED |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JAMES SEAL AND SON LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| South Stour Offices |
| Roman Road |
| Mersham |
| Ashford |
| Kent |
| TN25 7HS |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| BALANCE SHEET |
| 31 OCTOBER 2021 |
| 31.10.21 | 31.10.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2021 |
| 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 and authorised for issue on |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 1. | STATUTORY INFORMATION |
| James Seal and Son Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| During the period the company made a profit of £3,862 (2020: £2,317) and at the balance sheet date had net liabilities of £6,926 (2020: £212 net assets). These financial statements have been prepared on a going concern basis which assumes continuing support from the company director and creditors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 November 2020 |
| and 31 October 2021 |
| DEPRECIATION |
| At 1 November 2020 |
| Charge for year |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 5,972 | 1,750 |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Deferred tax | 155 | 193 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2020 |
| Provided during year | ( |
) |
| Balance at 31 October 2021 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2021 and 31 October 2020: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| At the year end £10,596 (2020: £6,051) was owing from the director AJ Seal to the company. There was no interest charged and was repaid within 9 months of the year end. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £11,000 (2020 - £2,250) were paid to the director . |
| JAMES SEAL AND SON LIMITED (REGISTERED NUMBER: 05979817) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2021 |
| 10. | RELATED PARTY DISCLOSURES - continued |
| Mr A J Seal - Director and Shareholder |
| At the balance sheet date Mr A J Seal owed James Seal and Son Ltd £10,596 (2020: Mr Seal owed the company £6,051). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is AJ Seal. |