Sealstown Development Ltd
Sealstown Development Ltd
Registered number: NI675833
Unaudited Financial Statements
For the Period
22 January 2021
to
31 December 2021
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Sealstown Development Ltd
Unaudited Financial Statements
For the Period
22 January 2021
to
31 December 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Sealstown Development Ltd
Balance Sheet
As at
31 December 2021
Balance Sheet
Registered number:
NI675833
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 31 December 2021 | |||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Stocks | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 6 |
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| SHAREHOLDERS' FUNDS | 6 | ||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Sealstown Development Ltd
Notes to the Financial Statements
For the Period
22 January 2021
to
31 December 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3
3.
Stocks
| 31 December 2021 | |
|---|---|
| £ | |
| Stock - work in progress |
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4.
Creditors: Amounts Falling Due Within One Year
| 31 December 2021 | |
|---|---|
| £ | |
| Bank loans and overdrafts |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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5.
Secured Creditors
The bank borrowings noted below are secured by charges against the site held by the company.
| 31 December 2021 | |
|---|---|
| £ | |
| Bank loans and overdrafts | 454,155 |
7.
Related Party Transactions
During the period the company acquired a site from it's parent company, Park Road Developments (NI) Ltd for £516,666. At the Balance Sheet date this balance was still owed.
Sealstown Development Ltd
Notes to the Financial Statements (continued)
For the Period
22 January 2021
to
31 December 2021
8.
General Information
Sealstown Development Ltd
is a private company, limited by shares, incorporated in Northern Ireland, registered number
NI675833
. The registered office is 158 Upper Newtownards Road, Belfast, BT4 3EQ.