Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-08true2023-10-01falsethat of port-based warehousing and distribution of forest and other products4446falsefalse 01712765 2023-10-01 2024-09-30 01712765 2022-10-01 2023-09-30 01712765 2024-09-30 01712765 2023-09-30 01712765 2022-10-01 01712765 c:Director2 2023-10-01 2024-09-30 01712765 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 01712765 d:Buildings d:LongLeaseholdAssets 2024-09-30 01712765 d:Buildings d:LongLeaseholdAssets 2023-09-30 01712765 d:PlantMachinery 2023-10-01 2024-09-30 01712765 d:PlantMachinery 2024-09-30 01712765 d:PlantMachinery 2023-09-30 01712765 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01712765 d:MotorVehicles 2023-10-01 2024-09-30 01712765 d:MotorVehicles 2024-09-30 01712765 d:MotorVehicles 2023-09-30 01712765 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01712765 d:FurnitureFittings 2023-10-01 2024-09-30 01712765 d:FurnitureFittings 2024-09-30 01712765 d:FurnitureFittings 2023-09-30 01712765 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01712765 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01712765 d:CurrentFinancialInstruments 2024-09-30 01712765 d:CurrentFinancialInstruments 2023-09-30 01712765 d:Non-currentFinancialInstruments 2024-09-30 01712765 d:Non-currentFinancialInstruments 2023-09-30 01712765 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01712765 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01712765 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 01712765 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01712765 d:ShareCapital 2024-09-30 01712765 d:ShareCapital 2023-09-30 01712765 d:CapitalRedemptionReserve 2024-09-30 01712765 d:CapitalRedemptionReserve 2023-09-30 01712765 d:RetainedEarningsAccumulatedLosses 2024-09-30 01712765 d:RetainedEarningsAccumulatedLosses 2023-09-30 01712765 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 01712765 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01712765 c:OrdinaryShareClass1 2023-10-01 2024-09-30 01712765 c:OrdinaryShareClass1 2024-09-30 01712765 c:OrdinaryShareClass1 2023-09-30 01712765 c:FRS102 2023-10-01 2024-09-30 01712765 c:Audited 2023-10-01 2024-09-30 01712765 c:FullAccounts 2023-10-01 2024-09-30 01712765 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01712765 d:WithinOneYear 2024-09-30 01712765 d:WithinOneYear 2023-09-30 01712765 d:BetweenOneFiveYears 2024-09-30 01712765 d:BetweenOneFiveYears 2023-09-30 01712765 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 01712765 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01712765









SEACON (SG) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SEACON (SG) LIMITED
REGISTERED NUMBER: 01712765

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
238,270
287,330

Current assets
  

Debtors: amounts falling due within one year
 5 
4,260,873
2,666,066

Cash at bank and in hand
 6 
322,329
396,568

  
4,583,202
3,062,634

Creditors: amounts falling due within one year
 7 
(1,050,872)
(725,163)

Net current assets
  
 
 
3,532,330
 
 
2,337,471

Total assets less current liabilities
  
3,770,600
2,624,801

Creditors: amounts falling due after more than one year
 8 
(3,100,000)
(2,000,000)

Provisions for liabilities
  

Deferred tax
  
(21,488)
(16,886)

Net assets
  
649,112
607,915


Capital and reserves
  

Called up share capital 
 10 
2,000
2,000

Capital redemption reserve
  
6,668
6,668

Profit and loss account
  
640,444
599,247

  
649,112
607,915


Page 1

 
SEACON (SG) LIMITED
REGISTERED NUMBER: 01712765
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 by  




K Jeeves
Director

Date: 12 April 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The company, incorporated in England and Wales, has its registered office at Tower Wharf,Lower Road Northfleet, Gravesend, Kent, DA11 9BD.
The company's principal activity continued to be that of port-based warehousing and distribution of forest and other products.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

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 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Seacon Group Limited as at 30th September 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

Page 3

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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 4

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.


 
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.

Page 5

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:


Leasehold property
-
10- 33% straight line
Plant and machinery
-
10- 33% straight line
Motor vehicles
-
15- 33% straight line
Computers & equipment
-
20- 50% 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

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.

 
2.10

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.

 
2.11

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 6

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2023 - 46).

Page 7

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
40,699
460,382
38,809
76,411
616,301


Additions
-
9,335
-
5,232
14,567


Disposals
-
(13,000)
-
-
(13,000)



At 30 September 2024

40,699
456,717
38,809
81,643
617,868



Depreciation


At 1 October 2023
6,837
262,372
4,043
55,719
328,971


Charge for the year on owned assets
4,837
38,476
4,851
12,078
60,242


Disposals
-
(9,615)
-
-
(9,615)



At 30 September 2024

11,674
291,233
8,894
67,797
379,598



Net book value



At 30 September 2024
29,025
165,484
29,915
13,846
238,270



At 30 September 2023
33,862
198,010
34,766
20,692
287,330

Page 8

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,427,611
1,394,007

Amounts owed by group undertakings
2,535,168
952,486

Other debtors
50,377
107,372

Prepayments and accrued income
247,717
212,201

4,260,873
2,666,066



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
322,329
396,568

322,329
396,568



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
824,023
354,057

Amounts owed to group undertakings
985
985

Corporation tax
-
164,691

Other taxation and social security
41,081
39,577

Accruals and deferred income
184,783
165,853

1,050,872
725,163



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
3,100,000
2,000,000

3,100,000
2,000,000


Page 9

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(16,886)
(14,008)


Charged to profit or loss
(4,602)
(2,878)



At end of year
(21,488)
(16,886)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(21,488)
(16,886)

(21,488)
(16,886)


10.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



3,333 (2023 - 3,333) A Ordinary shares shares of £1.00 each (60p paid)
2,000
2,000



11.


Pension commitments

The company contributes to a defined contribution Group Personal Pension Scheme. The assets of the scheme are held separately from those of the company in independently administered funds.


12.


Commitments under operating leases

At 30 September 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
2,285,136
2,214,931

Later than 1 year and not later than 5 years
899,324
2,908,072

3,184,460
5,123,003

Page 10

 
SEACON (SG) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Controlling party

The ultimate parent company is Seacon Group Limited, a company registered in England and Wales which owns 100% of the issued share capital of the company.
Copies of the financial statements of Seacon Group Limited can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 8 May 2025 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 11