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REGISTERED NUMBER: 03012368 (England and Wales)















SEACROFT PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






SEACROFT PROPERTIES LIMITED (REGISTERED NUMBER: 03012368)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

SEACROFT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: J E Handley
H C Handley



SECRETARY: Mrs F A Handley



REGISTERED OFFICE: Seacroft Road
Mablethorpe
Lincolnshire
LN12 2DT



REGISTERED NUMBER: 03012368 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS



BANKERS: Barclays Bank PLC
65 Lumley Road
Skegness
Lincolnshire
PE25 3LU

SEACROFT PROPERTIES LIMITED (REGISTERED NUMBER: 03012368)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 201,995 201,995
Investments 5 60,075 60,075
262,070 262,070

CURRENT ASSETS
Debtors 6 214,434 214,434
Cash at bank 5 5
214,439 214,439
CREDITORS
Amounts falling due within one year 7 309 312
NET CURRENT ASSETS 214,130 214,127
TOTAL ASSETS LESS CURRENT LIABILITIES 476,200 476,197

CAPITAL AND RESERVES
Called up share capital 8 426,253 426,253
Share premium 49,765 49,765
Retained earnings 182 179
SHAREHOLDERS' FUNDS 476,200 476,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:





H C Handley - Director


SEACROFT PROPERTIES LIMITED (REGISTERED NUMBER: 03012368)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Seacroft Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

Freehold buildings are stated at cost less accumulated depreciation and accumulated impairment losses. Where buildings are maintained to such a high standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not material.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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 the income statement.

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

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

Investments
Investments in subsidiary undertakings are recognised at cost.

Investments held as fixed assets are stated at cost.

Dividends are brought to account in the profit and loss account when receivable.

Preparation of consolidated financial statements
The financial statements contain information about Seacroft Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

SEACROFT PROPERTIES LIMITED (REGISTERED NUMBER: 03012368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2024
and 31 March 2025 201,995
NET BOOK VALUE
At 31 March 2025 201,995
At 31 March 2024 201,995

Land and buildings costing £201,995 (2024: £201,995) have not been depreciated, in line with the company's accounting policy.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2024
and 31 March 2025 60,075
NET BOOK VALUE
At 31 March 2025 60,075
At 31 March 2024 60,075

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Seacroft Garage Limited
Registered office: England and Wales - Registration number 05729447
Nature of business: Motor vehicle dealership
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves 1,292,942 1,257,262
Profit for the year 160,780 163,805

Group accounts have not been prepared as the group is classed as small.

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Amounts owed by group undertakings 214,434 214,434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other creditors 309 312

SEACROFT PROPERTIES LIMITED (REGISTERED NUMBER: 03012368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
126,235 Class A Ordinary £1 126,235 126,235
18 Class B Ordinary £1 18 18
300,000 Preference £1 300,000 300,000
426,253 426,253

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
J E Handley
Balance outstanding at start of year (310 ) (288 )
Amounts advanced 30,338 30,338
Amounts repaid (30,338 ) (30,360 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (310 ) (310 )

H C Handley
Balance outstanding at start of year (3 ) -
Amounts advanced 88,163 97,228
Amounts repaid (88,160 ) (97,231 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (3 )

The directors loan accounts are unsecured and repayable on demand. No interest was charged on the directors loan accounts and all balances payable to the company as at the year end were repaid to the company within 9 months of the year end.

10. RELATED PARTY DISCLOSURES

Seacroft Properties Limited own 100% of the ordinary share capital in Seacroft Garage Limited a company in which the directors of Seacroft Properties Limited are also directors.

Included in other debtors is £214,434 (2024: £214,434) due from Seacroft Garage Limited, the subsidiary company.

During the year the company received dividends of £125,101 (2024: £127,566) From Seacroft Garage Limited, the subsidiary company.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SEACROFT PROPERTIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seacroft Properties Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Seacroft Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Seacroft Properties Limited and state those matters that we have agreed to state to the Board of Directors of Seacroft Properties Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Seacroft Properties 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 Seacroft Properties Limited. You consider that Seacroft Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Seacroft Properties 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.






Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS


13 May 2025