REGISTERED NUMBER: SC267312 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SEABROKERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

MR F R Albretsen

Mr R Albretsen

Mrs M C Albretsen

Mr M P Jacques

SECRETARY:

Mrs M C Albretsen

REGISTERED OFFICE:

Seabrokers House

Prospect Road

Arnhall Business Park

Westhill

Aberdeenshire

AB32 6FE

REGISTERED NUMBER:

SC267312 (Scotland)

AUDITORS:

Nuvo Audit Limited

First Floor Sterling House

Outrams Wharf

Little Eaton

Derbyshire

DE21 5EL

FIXED ASSETS

Tangible assets

4

25,093

27,835

CURRENT ASSETS

Debtors

5

2,429,519

1,540,234

Cash at bank and in hand

66,613

176,607

2,496,132

1,716,841

CREDITORS

Amounts falling due within one year

6

1,230,549

726,368

NET CURRENT ASSETS

1,265,583

990,473

TOTAL ASSETS LESS CURRENT LIABILITIES

1,290,676

1,018,308

PROVISIONS FOR LIABILITIES

833

253

NET ASSETS

1,289,843

1,018,055

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,289,743

1,017,955

1,289,843

1,018,055

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

MR F R Albretsen - Director

1.	STATUTORY INFORMATION

Seabrokers Limited is a private company, limited by shares , registered in Scotland. 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.

Preparation of consolidated financial statements

The financial statements present information about the company as an individual undertaking and not about its group. The company and it's subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover 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. Turnover is measured at 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

10% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the statement of total comprehensive income.

Taxation

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless these costs are required to be recognised as part of the cost of stock or fixed assets.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

325,194

218,690

543,884

Additions

13,572

1,084

14,656

Disposals

(34,156

)

-

(34,156

)

At 31 December 2024

304,610

219,774

524,384

DEPRECIATION

At 1 January 2024

297,869

218,180

516,049

Charge for year

17,085

314

17,399

Eliminated on disposal

(34,157

)

-

(34,157

)

At 31 December 2024

280,797

218,494

499,291

NET BOOK VALUE

At 31 December 2024

23,813

1,280

25,093

At 31 December 2023

27,325

510

27,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

697,906

518,930

Amounts owed by group undertakings

1,637,040

915,493

Other debtors

94,573

105,811

2,429,519

1,540,234

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

42,538

4,782

Taxation and social security

470,897

287,321

Other creditors

717,114

434,265

1,230,549

726,368

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

88,148

88,148

Between one and five years

213,023

301,171

301,171

389,319

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Daniel Johnson FCCA (Senior Statutory Auditor)

for and on behalf of Nuvo Audit Limited

9.	POST BALANCE SHEET EVENTS

In the post year end period, a dividend of £1,200,000 has been declared.

10.	ULTIMATE CONTROLLING PARTY