Registered number
08425863
Seaward Material Solutions Ltd
Report and Accounts
31 March 2015
Seaward Material Solutions Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 5
Balance sheet 6
Notes to the accounts 7
Seaward Material Solutions Ltd
Company Information
Directors
S Seaward
H Seaward
Accountants
Brookfield & Co
18 Concanon Road
London
SW2 5TA
Registered number
08425863
Seaward Material Solutions Ltd
Registered number: 08425863
Directors' Report
The directors present their report and accounts for the year ended 31 March 2015.
Principal activities
The company's principal activity during the year continued to be that of agents and merchants of leather and leather goods. The Director is satisfied with the results for the year.
Directors
The following persons served as directors during the year:
A Seaward
H Seaward
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 1 December 2015 and signed on its behalf.
A Seaward
Director
Seaward Material Solutions Ltd
Profit and Loss Account
for the year ended 31 March 2015
Notes 2015 2014
£ £
Turnover 295,998 133,781
Cost of sales (1,412) (9,228)
Gross profit 294,586 124,553
Administrative expenses (121,778) (54,998)
Operating profit 2 172,808 69,555
Profit on ordinary activities before taxation 172,808 69,555
Tax on profit on ordinary activities 3 (36,129) (14,656)
Profit for the financial year 136,679 54,899
Seaward Material Solutions Ltd
Balance Sheet
as at 31 March 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 4 656 985
Current assets
Debtors 5 139,405 7,330
Cash at bank and in hand 64,431 90,877
203,836 98,207
Creditors: amounts falling due within one year 6 (60,814) (62,193)
Net current assets 143,022 36,014
Net assets 143,678 36,999
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 8 143,578 36,899
Shareholders' funds 143,678 36,999
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
A Seaward
Director
Approved by the board on 1 December 2015
Seaward Material Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% straight line
2 Operating profit 2015 2014
£ £
This is stated after charging:
Depreciation of owned fixed assets 329 329
3 Taxation 2015 2014
£ £
UK corporation tax 36,129 14,656
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2014 1,314
At 31 March 2015 1,314
Depreciation
At 1 April 2014 329
Charge for the year 329
At 31 March 2015 658
Net book value
At 31 March 2015 656
At 31 March 2014 985
5 Debtors 2015 2014
£ £
Trade debtors - 7,330
Other debtors 139,405 -
139,405 7,330
6 Creditors: amounts falling due within one year 2015 2014
£ £
Corporation tax 35,990 14,656
Other taxes and social security costs 8,556 24,536
Other creditors 16,268 23,001
60,814 62,193
7 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
8 Profit and loss account 2015
£
At 1 April 2014 36,899
Profit for the year 136,679
Dividends (30,000)
At 31 March 2015 143,578
9 Dividends 2015 2014
£ £
Dividends for which the company became liable during the year:
Dividends paid 30,000 18,000
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