Seaplanner Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06341612 (England and Wales)

Financial Statements

for the Year Ended 31 December 2022

for

SEAPLANNER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

D K Mckay

S Gandhi

Registered office:

First Floor North Suite

Sackville House Brooks Close

Lewes East Sussex

BN7 2SFZ

Registered number:

06341612 (England and Wales)

Auditors:

Haines Watts, Statutory Auditor

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

-

11,242

Current assets

Stocks

9,216

10,107

Debtors

6

223,458

173,581

Cash at bank

63,268

72,264

295,942

255,952

Creditors

Amounts falling due within one year

7

190,206

402,356

Net current assets/(liabilities)

105,736

(146,404

)

Total assets less current liabilities

105,736

(135,162

)

Capital and reserves

Called up share capital

8

1,000,000

1,000,000

Other reserves

520,504

520,504

Retained earnings

(1,414,768

)

(1,655,666

)

Shareholders' funds

105,736

(135,162

)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2023 and were signed on its behalf by:

S Gandhi - Director

1.	Statutory information

Seaplanner 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.

2.	Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

We confirm that the parent company will provide financial support as is necessary to enable SeaPlanner Limited to meet its liabilities as and when they fall due, for a period of at least twelve months from the date the financial statements for the year ended 31/12/2022 of Seaplanner Limited are approved by the board of directors. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Basic financial instruments

Trade and other debtors / creditors:

Trade and other debtors are recognised at transaction price less attributable transaction costs. Trade and other creditors are recognised at transaction price plus attributable transaction costs.

Cash and cash equivalents:

Cash and cash equivalents comprise cash balances and call deposits.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures, fittings, tools and equipment over 3 to 5 years

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.

Foreign currencies translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Nonmonetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Pension

Contributions to defined contribution plans are expensed in the period to which services are rendered by employees.

4.	Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

5.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 January 2022

51,000

Disposals

(25,941

)

At 31 December 2022

25,059

Depreciation

At 1 January 2022

39,758

Charge for year

11,242

Eliminated on disposal

(25,941

)

At 31 December 2022

25,059

Net book value

At 31 December 2022

-

At 31 December 2021

11,242

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

85,386

132,475

Amounts owed by group undertakings

123,581

-

Other debtors

14,491

41,106

223,458

173,581

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

20,749

52

Amounts owed to group undertakings

-

176,888

VAT

123

20,087

Accruals and deferred income

169,334

205,329

190,206

402,356

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

1,000,000

Ordinary

£1

1,000,000

1,000,000

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Antony Sassen FCA (Senior Statutory Auditor)

for and on behalf of Haines Watts, Statutory Auditor

10.	Ultimate controlling party

The ultimate parent company and controlling party is Constellation Software Inc, a company incorporated in Canada and listed on the Toronto Stock Exchange. The smallest and largest consolidated accounts which include Seaplanner Limited are the Constellation Software Inc. group accounts.

The consolidated accounts of Constellation Software Inc are available to the public and may be obtained from Constellation Software Inc. 1200-20 Adelaide Street, East Toronto, ON M5C 2T6, Canada.