Abbreviated Company Accounts - SEABRAES LIMITED

SC365548 SEABRAES LIMITED 2013-10-31 false 2012-11-01 2013-10-31 true SC365548 2012-11-01 2013-10-31 SC365548 2013-10-31 SC365548 2012-10-31 SC365548 uk-gaap-cd-bus:Director1 2012-11-01 2013-10-31 SC365548 uk-gaap-cd-bus:Director2 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-10-31 iso4217:GBP shares

Registered Number SC365548

SEABRAES LIMITED

Abbreviated Accounts

31 October 2013

SEABRAES LIMITED Registered Number SC365548

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Intangible assets	2	414,946	414,946
		414,946	414,946
Current assets
Debtors		117,944	65,352
Cash at bank and in hand		100	100
		118,044	65,452
Creditors: amounts falling due within one year		(365,656)	(226,150)
Net current assets (liabilities)		(247,612)	(160,698)
Total assets less current liabilities		167,334	254,248
Creditors: amounts falling due after more than one year		(152,093)	(222,291)
Total net assets (liabilities)		15,241	31,957
Capital and reserves
Called up share capital	3	133	133
Share premium account		11,967	11,967
Profit and loss account		3,141	19,857
Shareholders' funds		15,241	31,957

For the year ending 31 October 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 July 2014

And signed on their behalf by:
Mr K Pirie, Director

SEABRAES LIMITED Registered Number SC365548

Notes to the Abbreviated Accounts for the period ended 31 October 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Other accounting policies
Finance Lease Agreements

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

2Intangible fixed assets

	£
Cost
At 1 November 2012	414,946
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	414,946
Amortisation
At 1 November 2012	-
Charge for the year	-
On disposals	-
At 31 October 2013	-
Net book values
At 31 October 2013	414,946
At 31 October 2012	414,946

The company has invested in the ordinary share capital of TA Millard and it's details are as follows:

Name of Subsidiary - TA Millard (Scotland) Limited
Country of Incorporation - United Kingdom
Percentage Owned - 100%

Aggregate Capital & Reserves:
2012 - £213,078
2013 - £159,051

Profit and (Loss) for the year:
2012 - (£59,943)
2013 - (£54,027)

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1,333 Ordinary shares of £0.10 each	133	133