Seacare Compass Sandown Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15913518

Seacare Compass Sandown Limited

Filleted Financial Statements

31 March 2025

Seacare Compass Sandown Limited

Statement of Financial Position

31 March 2025

	31 Mar 25
Note	£	£

Fixed assets

Intangible assets	5	96,667
Tangible assets	6	2,810,940
		------------
		2,907,607

Current assets

Stocks		7,832
Debtors	7	74,008
Cash at bank and in hand		121,627
		---------
		203,467

Creditors: amounts falling due within one year	8	304,666
		---------
Net current liabilities			101,199
			------------
Total assets less current liabilities			2,806,408

Creditors: amounts falling due after more than one year	9		2,899,390

Provisions

Taxation including deferred tax		18,923
		------------
Net liabilities		( 111,905)
		------------

Seacare Compass Sandown Limited

Statement of Financial Position (continued)

31 March 2025

	31 Mar 25
Note	£	£

Capital and reserves

Called up share capital		1,000
Profit and loss account		( 112,905)
		---------
Shareholders deficit		( 111,905)
		---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:

M. Y. M. Wong	B. O. Zainulabbidin
Director	Director

Company registration number: 15913518

Seacare Compass Sandown Limited

Notes to the Financial Statements

Period from 23 August 2024 to 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Edwards Veeder (UK) Limited, Ground Floor, 4 Broadgate, Broadway Business Park, Chadderton, Oldham, Lancashire, OL9 9XA, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference .

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Brand name	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures and fittings	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 59 .

5. Intangible assets

	Brand name
	£
Cost
Additions	100,000
	---------
At 31 March 2025	100,000
	---------
Amortisation
Charge for the period	3,333
	---------
At 31 March 2025	3,333
	---------
Carrying amount
At 31 March 2025	96,667
	---------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 23 August 2024	–	–	–
Additions	2,747,154	80,621	2,827,775
	------------	--------	------------
At 31 March 2025	2,747,154	80,621	2,827,775
	------------	--------	------------
Depreciation
At 23 August 2024	–	–	–
Charge for the period	11,904	4,931	16,835
	------------	--------	------------
At 31 March 2025	11,904	4,931	16,835
	------------	--------	------------
Carrying amount
At 31 March 2025	2,735,250	75,690	2,810,940
	------------	--------	------------

7. Debtors

	31 Mar 25
	£
Other debtors	74,008
	--------

8. Creditors: amounts falling due within one year

	31 Mar 25
	£
Trade creditors	149,316
Amounts owed to group undertakings and undertakings in which the company has a participating interest	30,651
Social security and other taxes	48,948
Other creditors	75,751
	---------
	304,666
	---------

9. Creditors: amounts falling due after more than one year

	31 Mar 25
	£
Bank loans and overdrafts	1,925,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest	974,390
	------------
	2,899,390
	------------

10. Summary audit opinion

The auditor's report dated 27 August 2025 was unqualified .

The senior statutory auditor was Andrew Wadsworth FCCA , for and on behalf of Edwards Veeder (UK) Limited .

11. Related party transactions

As at 31 March 2025, a loan of £585,234 was due to Seacare Hospitality (UK) Limited. Interest is due on the loan at 3.25% per annum. During the period, interest of £17,568 was charged on the loan, the full amount was outstanding at the year end. An additional balance of £1,094 was outstanding at the year relating to other transactions. Seacare Hospitality (UK) Limited has a 60% holding in the Company. As at 31 March 2025, a loan of £390,156 was due to CH Holding Limited. Interest is due on the loan at 3.25% per annum. During the period, interest of £11,712 was charged on the loan, the full amount was outstanding at the year end. CH Holding Limited has a 40% holding in the Company. As at 31 March 2025 £277 was due to Seacare Compass Scaborough Limited, a company under common control.

12. Controlling party

The Company is a 60% subsidiary of Seacare Hospitality (UK) Limited, a company incorporated in England & Wales. The remaining 40% of the issued shares are owned by CH Holding Limited, a company incorporated in England & Wales. Seacare Holdings Private Limited (incorporated in Singapore) owns the 100% shareholding of Seacare Hopsitality (UK) Limited and is the parent company.