Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false12truetrue2023-08-01Cargo/Freight forwarders11truetruefalse 01710036 2023-08-01 2024-07-31 01710036 2022-08-01 2023-07-31 01710036 2024-07-31 01710036 2023-07-31 01710036 c:Director1 2023-08-01 2024-07-31 01710036 d:PlantMachinery 2023-08-01 2024-07-31 01710036 d:PlantMachinery 2024-07-31 01710036 d:PlantMachinery 2023-07-31 01710036 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01710036 d:FurnitureFittings 2023-08-01 2024-07-31 01710036 d:FurnitureFittings 2024-07-31 01710036 d:FurnitureFittings 2023-07-31 01710036 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01710036 d:ComputerEquipment 2023-08-01 2024-07-31 01710036 d:ComputerEquipment 2024-07-31 01710036 d:ComputerEquipment 2023-07-31 01710036 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01710036 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01710036 d:CurrentFinancialInstruments 2024-07-31 01710036 d:CurrentFinancialInstruments 2023-07-31 01710036 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 01710036 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 01710036 d:ShareCapital 2024-07-31 01710036 d:ShareCapital 2023-07-31 01710036 d:RetainedEarningsAccumulatedLosses 2024-07-31 01710036 d:RetainedEarningsAccumulatedLosses 2023-07-31 01710036 c:FRS102 2023-08-01 2024-07-31 01710036 c:Audited 2023-08-01 2024-07-31 01710036 c:FullAccounts 2023-08-01 2024-07-31 01710036 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01710036 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 01710036 6 2023-08-01 2024-07-31 01710036 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 01710036









SEABROOK EXPORT SERVICES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
SEABROOK EXPORT SERVICES LIMITED
REGISTERED NUMBER: 01710036

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
247
694

Investments
 6 
38,824
38,824

  
39,071
39,518

Current assets
  

Debtors: amounts falling due within one year
 7 
1,916,912
1,644,141

Cash at bank and in hand
 8 
3,320
6,598

  
1,920,232
1,650,739

Creditors: amounts falling due within one year
 9 
(538,797)
(450,158)

Net current assets
  
 
 
1,381,435
 
 
1,200,581

Total assets less current liabilities
  
1,420,506
1,240,099

  

Net assets
  
1,420,506
1,240,099


Capital and reserves
  

Called up share capital 
  
133
133

Profit and loss account
  
1,420,373
1,239,966

  
1,420,506
1,240,099


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




J W Wyatt
Director

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Seabrook Export Services Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 01710036. The address of the registered office is Admiral House, 853 London Road, West Thurrock, Essex, United Kingdom, RM20 3LG. The company's principal activity is that of freight forwarding agent in specialist wines. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in pounds sterling which is the functional currency of the Company, rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Seabrook Holdings Limited as at 31 July 2024 and these financial statements may be obtained from Companies House.

Page 2

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from freight forwarding services
The provision for freight forwarding services include land freight and air freight. Revenue is earned when the company acts as a freight consolidator in respect of land freight and air freight services. In both cases, the company acts as an indirect carrier and therefore revenue is recognised when the services are rendered, which coincide with the date of departure of shipments.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments included in the accounts are valued at historic cost less impairment. 

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
 

Page 6

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. 
Management considers that there are no judgments that have been made in the process of applying the entity's accounting policies that have a significant effect on the financial statements. Furthermore,  management considers that there are no areas of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
Carrying value of investments - The Company reviews and assesses investment valuations frequently. When assessing impairments of investments, management considers the future cash flows expected to arise from the investments.


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).

Page 7

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
5,863
9,523
16,630
32,016



At 31 July 2024

5,863
9,523
16,630
32,016



Depreciation


At 1 August 2023
5,863
9,523
15,936
31,322


Charge for the year on owned assets
-
-
447
447



At 31 July 2024

5,863
9,523
16,383
31,769



Net book value



At 31 July 2024
-
-
247
247



At 31 July 2023
-
-
694
694


6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 August 2023
38,824



At 31 July 2024
38,824




Page 8

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
72,075
122,281

Amounts owed by group undertakings
1,800,000
1,490,000

Other debtors
13,337
3,890

Prepayments and accrued income
31,500
27,970

1,916,912
1,644,141



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,320
6,598

3,320
6,598



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
168,557
225,167

Amounts owed to group undertakings
55,154
16,065

Corporation tax
85,084
60,193

Other taxation and social security
14,164
10,153

Other creditors
3,013
4,340

Accruals and deferred income
212,825
134,240

538,797
450,158



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £11,176 (2023: £11,535).
Contributions totalling £3,014 (2023: £2,664) were payable to the fund at the balance sheet date. 

Page 9

 
SEABROOK EXPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Related party transactions

During the year, key management personnel compensation totalled £205,461 (2023: £199,473).


12.


Controlling party

The ultimate parent company is Seabrook Holdings Limited, a company incorporated in United Kingdom. The registered address is Admiral House, 853 London Road, West Thurrock, Essex, United Kingdom, RM20 3LG.
The ultimate controlling party is M Seabrook by virtue of his majority shareholding in the ultimate parent company. 


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 28 April 2025 by Laura Ambrose BA(Hons) FCA (Senior Statutory Auditor) on behalf of Haslers.

 
Page 10