Sea Island Developments (Spalding) Limited 30/04/2023 iXBRL

Sea Island Developments (Spalding) Limited 30/04/2023 iXBRL

SEA ISLAND DEVELOPMENTS (SPALDING) LIMITED - Company Information

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1 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-03-03 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13952721 2022-03-03 2023-04-30 13952721 2023-04-30 13952721 bus:Director1 2022-03-03 2023-04-30 13952721 core:WithinOneYear 2023-04-30 13952721 core:ShareCapital 2022-03-03 2023-04-30 13952721 core:RetainedEarningsAccumulatedLosses 2022-03-03 2023-04-30 13952721 core:ShareCapital 2023-04-30 13952721 core:RetainedEarningsAccumulatedLosses 2023-04-30 13952721 bus:SmallEntities 2022-03-03 2023-04-30 13952721 bus:AuditExempt-NoAccountantsReport 2022-03-03 2023-04-30 13952721 bus:FullAccounts 2022-03-03 2023-04-30 13952721 bus:SmallCompaniesRegimeForAccounts 2022-03-03 2023-04-30 13952721 bus:PrivateLimitedCompanyLtd 2022-03-03 2023-04-30 13952721 core:OtherRelatedParties 2023-04-30
Company registration number: 13952721
Sea Island Developments (Spalding) Limited
Pages for filing with Registrar
30 April 2023
Sea Island Developments (Spalding) Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Sea Island Developments (Spalding) Limited
Statement of financial position
30 April 2023
30/04/23
Note £ £
Current assets
Stocks 139,761
Debtors 5 45,000
Cash at bank and in hand 23,683
_______
208,444
Creditors: amounts falling due
within one year 6 ( 209,606)
_______
Net current liabilities ( 1,162)
_______
Total assets less current liabilities ( 1,162)
_______
Net liabilities ( 1,162)
_______
Capital and reserves
Called up share capital 1
Profit and loss account ( 1,163)
_______
Shareholder deficit ( 1,162)
_______
For the period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
M Walton
Director
Company registration number: 13952721
Sea Island Developments (Spalding) Limited
Statement of changes in equity
Period ended 30 April 2023
Called up share capital Profit and loss account Total
£ £ £
At 3 March 2022 - - -
Loss for the period ( 1,163) ( 1,163)
_______ _______ _______
Total comprehensive income for the period - ( 1,163) ( 1,163)
Issue of shares 1 1
_______ _______ _______
Total investments by and distributions to owners 1 - 1
_______ _______ _______
At 30 April 2023 1 ( 1,163) ( 1,162)
_______ _______ _______
Sea Island Developments (Spalding) Limited
Notes to the financial statements
Period ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is West 2, Asama Court, Newcastle Business park, Newcastle upon Tyne, NE4 7YD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors of the company are satisfied that there are no material uncertainties concerning the company's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1
5. Debtors
30/04/23
£
Other debtors 45,000
_______
6. Creditors: amounts falling due within one year
30/04/23
£
Amounts owed to group undertakings 208,676
Other creditors 930
_______
209,606
_______
7. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
Period Period
ended ended
30/04/23 30/04/23
£ £
Sea Island Developments Limited (135,076) ( 135,076)
The McKenzie Corporation Limited (72,000) (72,000)
Sea Island Developments (North Shields) Limited (1,600) (1,600)
_______ _______
The company is a wholly owned subsidiary of Sea Island Developments Limited, a company controlled by PG Walton.The McKenzie Corporation Limited is a company under the control of PG Walton.Sea Island Developments (North Shields) Limited is a wholly owned subsidiary of Sea Island Developments Limited.