S.E.A.S (NE) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06167780 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

S.E.A.S (NE) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J D Skeen

G K Wilkinson

SECRETARY:

G K Wilkinson

REGISTERED OFFICE:

Unit 7

Tudhoe Industrial Estate

Spennymoor

Co. Durham

DL16 6TL

REGISTERED NUMBER:

06167780 (England and Wales)

ACCOUNTANTS:

G D O'Hehir & Co Ltd

Chartered Accountants & Statutory Auditors

22/23 Clyde Terrace

Spennymoor

Co. Durham

DL16 7SE

FIXED ASSETS

Tangible assets

2

32,158

24,649

CURRENT ASSETS

Debtors

83,183

69,120

Cash at bank and in hand

54,246

34,821

137,429

103,941

CREDITORS

Amounts falling due within one year

86,340

57,421

NET CURRENT ASSETS

51,089

46,520

TOTAL ASSETS LESS CURRENT LIABILITIES

83,247

71,169

CREDITORS

Amounts falling due after more than one year

(10,642

)

(13,650

)

PROVISIONS FOR LIABILITIES

(6,432

)

(4,930

)

NET ASSETS

66,173

52,589

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

66,171

52,587

SHAREHOLDERS' FUNDS

66,173

52,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 December 2014 and were signed on its behalf by:

G K Wilkinson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost, 15% on cost and 10% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have

originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are

capitalised in the balance sheet. Those held under hire purchase contracts

are depreciated over their estimated useful lives. Those held under

finance leases are depreciated over their estimated useful lives or the

lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss

account over the relevant period. The capital element of the future

payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss

account on a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

58,368

Additions

13,592

Disposals

(390

)

At 31 March 2014

71,570

DEPRECIATION

At 1 April 2013

33,719

Charge for year

5,771

Eliminated on disposal

(78

)

At 31 March 2014

39,412

NET BOOK VALUE

At 31 March 2014

32,158

At 31 March 2013

24,649

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

2

Ordinary

£1

2

2

4.	GOING CONCERN REVIEW

The directors are not aware of any reason why sales should reduce

significantly next year. No material uncertainties that may cast

significant doubt on the ability of the company to continue as a going

concern have been identified. As a result the going concern basis of

accounting has been adopted.