Sea Partners (UK) Limited - Accounts to registrar - small 17.1
Sea Partners (UK) Limited - Accounts to registrar - small 17.1
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 January 2017 |
| for |
| Sea Partners (UK) Limited |
| Sea Partners (UK) Limited (Registered number: 05026834) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Sea Partners (UK) Limited |
| Company Information |
| for the Year Ended 31 January 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 238 Station Road |
| Addlestone |
| Surrey |
| KT15 2PS |
| Sea Partners (UK) Limited (Registered number: 05026834) |
| Balance Sheet |
| 31 January 2017 |
| 31.1.17 | 31.1.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on behalf by: |
| Sea Partners (UK) Limited (Registered number: 05026834) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2017 |
| 1. | STATUTORY INFORMATION |
| Sea Partners (UK) Limited is a |
| 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 |
| Revenue |
| Revenue is measured at fair value and represents revenues receivable under contracts net of value |
| added tax. Where contractual obligations have been partially performed at the balance sheet date, |
| revenue is recognised to the extent that the company has obtained the right to consideration through |
| its performance. |
| Tangible fixed assets |
| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over |
| their estimated useful lives as follows: |
| Fixtures and fittings - 25% on cost |
| Computer equipment - 25% on reducing balance |
| On disposal, the difference between the net disposal proceeds and the carrying amount of the item |
| sold is recognised in the income statement. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have |
| been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that |
| are expected to apply to the reversal of the timing difference. |
| 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. |
| 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. |
| Sea Partners (UK) Limited (Registered number: 05026834) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2016 |
| Disposals | ( |
) | ( |
) |
| At 31 January 2017 |
| DEPRECIATION |
| At 1 February 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Trade debtors |
| VAT |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.17 | 31.1.16 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Directors' current accounts |
| Accrued expenses |
| 7. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £360,000 (2016 - £584,175) were paid to the directors . |
| At the year end the company owed Mr A A Schjelderup £362,604 (2016: £311,243) in respect of his |
| directors' loan account. The loan is interest free and repayable on demand. |
| Sea Partners (UK) Limited (Registered number: 05026834) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2017 |
| 8. | FIRST TIME ADOPTION OF FRS 102 |
| This is the first year in which the financial statements have been prepared under FRS 102 (Section 1A). |
| Neither the opening equity, nor the profit or loss were affected as a result of the transition from UK GAAP |
| to FRS 102 (Section 1A). |