The SEO Works Limited - Accounts to registrar (filleted) - small 23.1

REGISTERED NUMBER: 06845547 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE SEO WORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Margetts

Mrs S G Margetts

N D Palmer

A K Hill

J E J Corry

B M Foster

REGISTERED OFFICE:

Third Floor, Balm Green Wing

Fountain Precinct

Balm Green

Sheffield

S1 2JA

REGISTERED NUMBER:

06845547 (England and Wales)

ACCOUNTANTS:

Hollis and Co Limited

Chartered Accountants

35 Wilkinson Street

Sheffield

South Yorkshire

S10 2GB

FIXED ASSETS

Intangible assets

4

39,850

39,850

Tangible assets

5

36,334

48,445

76,184

88,295

CURRENT ASSETS

Debtors

6

2,282,532

437,988

Cash at bank

1,204,182

650,674

3,486,714

1,088,662

CREDITORS

Amounts falling due within one year

7

1,472,976

677,560

NET CURRENT ASSETS

2,013,738

411,102

TOTAL ASSETS LESS CURRENT LIABILITIES

2,089,922

499,397

CREDITORS

Amounts falling due after more than one year

8

29,480

38,890

NET ASSETS

2,060,442

460,507

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

69,141

69,141

Retained earnings

1,991,201

391,266

SHAREHOLDERS' FUNDS

2,060,442

460,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 17 July 2023 and were signed on its behalf by:

N D Palmer - Director

1.	STATUTORY INFORMATION

The SEO Works 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at the lower of cost less any accumulated amortisation and any accumulated impairment losses, and valuation.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life.

Tangible fixed assets

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

Plant and machinery etc

-

50% on cost, 33% on cost, 25% on reducing balance and at varying rates on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 85 (2022 - 75 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1 April 2022

and 31 March 2023

39,850

NET BOOK VALUE

At 31 March 2023

39,850

At 31 March 2022

39,850

Cost or valuation at 31 March 2023 is represented by:

Other

intangible

assets

£

Valuation in 2023

39,850

Domains held are revalued annually to their current market value by the Directors.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

68,193

DEPRECIATION

At 1 April 2022

19,748

Charge for year

12,111

At 31 March 2023

31,859

NET BOOK VALUE

At 31 March 2023

36,334

At 31 March 2022

48,445

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

503,022

420,366

Other debtors

1,779,510

17,622

2,282,532

437,988

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

9,339

10,056

Trade creditors

69,640

68,754

Taxation and social security

1,379,811

532,812

Other creditors

14,186

65,938

1,472,976

677,560

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

29,480

38,890

9.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

69,141

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors resulting in overdrawn loan accounts subsisted during the years ended 31 March 2023 and 31 March 2022:-

2023

2022

£

£

Balance outstanding at start of year

16,481

-

Amounts advanced

1,313,993

530,493

Amounts repaid

-

(514,012

)

Balance outstanding at end of year

1,330,474

16,481

During the year, total advances of £1,592,576 and total repayments of £224,230 were made to and from the directors (including those disclosed above). No interest was charged and there were no set repayment terms.