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2024-03-31
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No description of principal activities is disclosed
2023-08-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
04032653
2023-08-01
2024-03-31
04032653
2024-03-31
04032653
2023-07-31
04032653
2022-08-01
2023-07-31
04032653
2023-07-31
04032653
2022-07-31
04032653
core:Subsidiary1
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2024-03-31
04032653
core:Subsidiary2
2023-08-01
2024-03-31
04032653
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2023-08-01
2024-03-31
04032653
bus:LeadAgentIfApplicable
2023-08-01
2024-03-31
04032653
bus:Director1
2023-08-01
2024-03-31
04032653
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2023-08-01
2024-03-31
04032653
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2023-08-01
2024-03-31
04032653
bus:Director5
2023-08-01
2024-03-31
04032653
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-03-31
04032653
core:WithinOneYear
2024-03-31
04032653
core:WithinOneYear
2023-07-31
04032653
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-07-31
04032653
core:ShareCapital
2024-03-31
04032653
core:ShareCapital
2023-07-31
04032653
core:HedgingReserve
2024-03-31
04032653
core:HedgingReserve
2023-07-31
04032653
core:RetainedEarningsAccumulatedLosses
2024-03-31
04032653
core:RetainedEarningsAccumulatedLosses
2023-07-31
04032653
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
04032653
core:Non-currentFinancialInstruments
2024-03-31
04032653
core:Non-currentFinancialInstruments
2023-07-31
04032653
core:Subsidiary1
2022-08-01
2023-07-31
04032653
core:Subsidiary2
2022-08-01
2023-07-31
04032653
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2023-08-01
2024-03-31
04032653
bus:AuditExemptWithAccountantsReport
2023-08-01
2024-03-31
04032653
bus:SmallCompaniesRegimeForAccounts
2023-08-01
2024-03-31
04032653
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2023-08-01
2024-03-31
04032653
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2023-08-01
2024-03-31
04032653
core:EntityControlledByKeyManagementPersonnel1
2023-08-01
2024-03-31
04032653
core:EntityControlledByKeyManagementPersonnel1
2022-08-01
2023-07-31
04032653
core:EntityControlledByKeyManagementPersonnel2
2023-08-01
2024-03-31
04032653
core:EntityControlledByKeyManagementPersonnel2
2022-08-01
2023-07-31
04032653
core:EntityControlledByKeyManagementPersonnel2
2024-03-31
04032653
core:EntityControlledByKeyManagementPersonnel3
2023-07-31
04032653
core:EntityControlledByKeyManagementPersonnel3
2023-08-01
2024-03-31
04032653
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2024-03-31
04032653
1
2023-08-01
2024-03-31
04032653
core:EntityControlledByKeyManagementPersonnel2
2023-07-31
Company registration number:
04032653
Seaberry Limited
Unaudited filleted financial statements
31 March 2024
Seaberry Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Seaberry Limited
Directors and other information
|
|
|
|
|
Directors |
Mr M W Seaman-Hill |
|
|
|
Mr J J Hill |
|
|
|
Mr T W Shadbolt |
|
|
|
Mr M A Shadbolt |
|
|
|
|
|
|
|
|
|
|
Company number |
04032653 |
|
|
|
|
|
|
|
|
|
|
Registered office |
First Floor Offices |
|
|
|
99 Bancroft |
|
|
|
Hitchin |
|
|
|
Hertfordshire |
|
|
|
SG5 1NQ |
|
|
|
|
|
|
|
|
|
|
Accountants |
Hicks and Company |
|
|
|
Chartered accountants |
|
|
|
First Floor |
|
|
|
99 Bancroft |
|
|
|
Hitchin |
|
|
|
Hertfordshire |
|
|
|
SG5 1NQ |
|
|
|
|
|
Seaberry Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Seaberry Limited
Period ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seaberry Limited for the period ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Seaberry Limited, as a body, in accordance with the terms of our engagement letter dated 18 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Seaberry Limited and state those matters that we have agreed to state to the board of directors of Seaberry Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seaberry Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Seaberry Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Seaberry Limited. You consider that Seaberry Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Seaberry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
29 November 2024
Seaberry Limited
Statement of financial position
31 March 2024
|
|
|
31/03/24 |
|
|
|
31/07/23 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
57,500 |
|
|
|
57,500 |
|
|
Investments |
|
5 |
891,592 |
|
|
|
891,592 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
949,092 |
|
|
|
949,092 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
5,875 |
|
|
|
3,037 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
5,875 |
|
|
|
3,037 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
688,882) |
|
|
|
(
689,404) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
683,007) |
|
|
|
(
686,367) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
266,085 |
|
|
|
262,725 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
266,085 |
|
|
|
262,725 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Fair value reserve |
|
|
|
|
5,397 |
|
|
|
5,397 |
Profit and loss account |
|
|
|
|
260,588 |
|
|
|
257,228 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
266,085 |
|
|
|
262,725 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 November 2024
, and are signed on behalf of the board by:
Mr J J Hill
Mr T W Shadbolt
Director
Director
Company registration number:
04032653
Seaberry Limited
Notes to the financial statements
Period ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover represents the rents and recoverable expenses from properties which are included on an accruals basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
|
Freehold investment property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost/Valuation |
|
|
|
|
|
|
|
|
At 1 August 2023 and 31 March 2024 |
57,500 |
57,500 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2023 and 31 March 2024 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
57,500 |
57,500 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 July 2023 |
57,500 |
57,500 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
The fair value of the freehold investment property has been arrived at on the basis of a valuation carried out by the directors of the company
. The valuation was made on an open market value basis for existing use
on 31 March 2024.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Freehold investment property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
At 31 March 2024 |
|
|
|
|
|
|
|
|
Aggregate cost |
52,103 |
52,103 |
|
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
52,103 |
52,103 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 July 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
52,103 |
52,103 |
|
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
52,103 |
52,103 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.
Investments
|
|
Shares in group undertakings |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2023 and 31 March 2024 |
891,592 |
891,592 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 August 2023 and 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
891,592 |
891,592 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
891,592 |
891,592 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in group undertakings |
|
|
|
|
|
|
|
Registered office |
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|
|
|
|
|
Liscomb Limited |
|
First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire SG5 1NQ |
Ordinary |
80 |
|
|
|
|
|
|
|
Hitchin Arcade Limited |
|
First Floor, 99 Bancroft, Hitchin, Hertfordshire SG5 1NQ |
Ordinary |
63 |
|
|
|
|
|
|
|
|
|
|
|
|
The results and capital and reserves for the period of the trading companies are as follows:
|
|
|
|
|
|
|
|
|
Capital and |
|
Profit/(loss) |
|
|
|
reserves |
|
for the |
|
|
|
|
|
period |
|
|
31/03/24 |
31/07/23 |
31/03/24 |
31/07/23 |
|
|
£ |
£ |
£ |
£ |
|
Subsidiary undertakings |
|
|
|
|
|
Liscomb Limited |
194,618 |
195,935 |
(
1,317) |
(
1,459) |
|
Hitchin Arcade Limited |
2,600,510 |
2,489,212 |
111,301 |
(
282,316) |
|
|
|
|
|
|
6.
Debtors
|
|
|
31/03/24 |
31/07/23 |
|
|
|
£ |
£ |
|
Rent and insurance arrears |
|
1,841 |
- |
|
Other debtors |
|
4,034 |
3,037 |
|
|
|
_______ |
_______ |
|
|
|
5,875 |
3,037 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
31/03/24 |
31/07/23 |
|
|
|
£ |
£ |
|
Insurance received in advance |
|
- |
146 |
|
Amounts owed to group undertaking |
|
343,122 |
343,122 |
|
Amounts owed to related company |
|
343,122 |
343,122 |
|
Corporation tax |
|
479 |
749 |
|
Other creditors |
|
2,159 |
2,265 |
|
|
|
_______ |
_______ |
|
|
|
688,882 |
689,404 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Related party transactions
During the period the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
Period |
Year |
Period |
Year |
|
|
ended |
ended |
ended |
ended |
|
|
31/03/24 |
31/07/23 |
31/03/24 |
31/07/23 |
|
|
£ |
£ |
£ |
£ |
|
Messrs John Shilcock - Rent collection fee |
- |
400 |
- |
- |
|
John Shilcock Limited - Rent collection fee |
540 |
590 |
540 |
270 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2024 £
993
(31 July 2023 £ 1,689
) was owed to the company by John Shilcock Limited
, a company in which certain directors have an interest. The amount owed represents net rents collected by John Shilcock Limited as managing agents, retained to cover future expenses
. The amount is unsecured, interest free and repayable on demand.
9.
Controlling party
The directors and their family members directly and indirectly via their family companies own 100% of the share capital and therefore control the Company.