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REGISTERED NUMBER: 11161590 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SEAGROWN LIMITED

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEAGROWN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: W A Crookes
L F Robinson
J C Cave
S Jefferson





REGISTERED OFFICE: M/V Southern Star
Vincent Pier
Scarborough
North Yorkshire
YO11 1PH





REGISTERED NUMBER: 11161590 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,395 28,430
Tangible assets 5 738,055 679,964
763,450 708,394

CURRENT ASSETS
Stocks 38,380 23,543
Debtors 6 37,647 106,153
Cash at bank and in hand 53,451 71,785
129,478 201,481
CREDITORS
Amounts falling due within one year 7 105,976 181,292
NET CURRENT ASSETS 23,502 20,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

786,952

728,583

CREDITORS
Amounts falling due after more than one
year

8

(707,166

)

(595,466

)

PROVISIONS FOR LIABILITIES (41,071 ) (11,735 )
NET ASSETS 38,715 121,382

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 38,711 121,378
SHAREHOLDERS' FUNDS 38,715 121,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




W A Crookes - Director



L F Robinson - Director


SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Seagrown Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents contracting income excluding discounts, rebates, value added tax and other taxes. Turnover is generated from seaweed farming activities and recognised on the exchange of goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Cafe plant and fixtures - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Aquaculture equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Marine vessels - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 35,537
Additions 5,091
At 30 April 2024 40,628
AMORTISATION
At 1 May 2023 7,107
Charge for year 8,126
At 30 April 2024 15,233
NET BOOK VALUE
At 30 April 2024 25,395
At 30 April 2023 28,430

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Cafe
plant and Plant and Aquaculture
fixtures machinery equipment
£    £    £   
COST
At 1 May 2023 29,671 53,087 28,810
Additions 9,093 65,796 51,561
At 30 April 2024 38,764 118,883 80,371
DEPRECIATION
At 1 May 2023 9,453 30,039 16,927
Charge for year 7,328 22,216 15,866
At 30 April 2024 16,781 52,255 32,793
NET BOOK VALUE
At 30 April 2024 21,983 66,628 47,578
At 30 April 2023 20,218 23,048 11,883

Motor Marine
vehicles vessels Totals
£    £    £   
COST
At 1 May 2023 - 880,121 991,689
Additions 15,450 59,413 201,313
At 30 April 2024 15,450 939,534 1,193,002
DEPRECIATION
At 1 May 2023 - 255,306 311,725
Charge for year 3,863 93,949 143,222
At 30 April 2024 3,863 349,255 454,947
NET BOOK VALUE
At 30 April 2024 11,587 590,279 738,055
At 30 April 2023 - 624,815 679,964

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 33,179 7,150
Other debtors 4,468 99,003
37,647 106,153

SEAGROWN LIMITED (REGISTERED NUMBER: 11161590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 7,112 4,741
Trade creditors 16,923 19,407
Taxation and social security 21,005 41,639
Other creditors 60,936 115,505
105,976 181,292

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 35,539 42,651
Other creditors 671,627 552,815
707,166 595,466

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,092 14,204

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary A £1 2 2
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
4 4