Sealworks (UK) Limited - Period Ending 2015-02-28

Registration number: 03719371

Sealworks (UK) Limited

Unaudited Abbreviated Accounts

FOR THE Year Ended 28 February 2015
 

Sealworks (UK) Limited
Contents

			Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Sealworks (UK) Limited
(Registration number: 03719371)
Abbreviated Balance Sheet at 28 February 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					3,874			5,182
Current assets
Stocks					19,138			13,941
Debtors					207,076			245,722
Investments					175,810			273,333
Cash at bank and in hand					334,021			143,800
					736,045			676,796
Creditors: Amounts falling due within one year					(220,476)			(155,400)
Net current assets					515,569			521,396
Total assets less current liabilities					519,443			526,578
Provisions for liabilities					(604)			(828)
Net assets					518,839			525,750
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					518,739			525,650
Shareholders' funds					518,839			525,750

For the year ending 28 February 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 18 November 2015 and signed on its behalf by:

.........................................
W Webster
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Sealworks (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance and 33% straight line basis
Fixtures and fittings	15% reducing balance

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Stock

Stock is valued at the lower of cost and net realisable value

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 2

Sealworks (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2014		24,749			24,749
Additions		741			741
Disposals		(820)			(820)
At 28 February 2015		24,670			24,670
Depreciation
At 1 March 2014		19,567			19,567
Charge for the year		1,549			1,549
Eliminated on disposals		(320)			(320)
At 28 February 2015		20,796			20,796
Net book value
At 28 February 2015		3,874			3,874
At 28 February 2014		5,182			5,182

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3