Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10270382 Mr Eric Garnier Mr Mark Gibson Eric Garnier true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10270382 2023-07-31 10270382 2024-07-31 10270382 2023-08-01 2024-07-31 10270382 frs-core:CurrentFinancialInstruments 2024-07-31 10270382 frs-core:Non-currentFinancialInstruments 2024-07-31 10270382 frs-core:BetweenOneFiveYears 2024-07-31 10270382 frs-core:FurnitureFittings 2024-07-31 10270382 frs-core:FurnitureFittings 2023-08-01 2024-07-31 10270382 frs-core:FurnitureFittings 2023-07-31 10270382 frs-core:PlantMachinery 2024-07-31 10270382 frs-core:PlantMachinery 2023-08-01 2024-07-31 10270382 frs-core:PlantMachinery 2023-07-31 10270382 frs-core:WithinOneYear 2024-07-31 10270382 frs-core:ShareCapital 2024-07-31 10270382 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10270382 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10270382 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10270382 frs-bus:SmallEntities 2023-08-01 2024-07-31 10270382 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10270382 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10270382 1 2023-08-01 2024-07-31 10270382 frs-bus:Director1 2023-08-01 2024-07-31 10270382 frs-bus:Director2 2023-08-01 2024-07-31 10270382 frs-countries:EnglandWales 2023-08-01 2024-07-31 10270382 2022-07-31 10270382 2023-07-31 10270382 2022-08-01 2023-07-31 10270382 frs-core:CurrentFinancialInstruments 2023-07-31 10270382 frs-core:Non-currentFinancialInstruments 2023-07-31 10270382 frs-core:BetweenOneFiveYears 2023-07-31 10270382 frs-core:WithinOneYear 2023-07-31 10270382 frs-core:ShareCapital 2023-07-31 10270382 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10270382
Seven Seas Motors Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Seven Seas Motors Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Seven Seas Motors Limited
Balance Sheet
As At 31 July 2024
Balance Sheet
Registered number: 10270382

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 16,428 |  | 13,088
|  |  | 16,428 |  | 13,088
CURRENT ASSETS
Stocks | 5 | 374,597 |  | 394,000 |
Debtors | 6 | 52,426 |  | 31,413 |
Cash at bank and in hand |  | 18,659 |  | 34,060 |
|  | 445,682 |  | 459,473 |
Creditors: Amounts Falling Due Within One Year | 7 | (446,286 ) |  | (127,474 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (604 ) |  | 331,999
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 15,824 |  | 345,087
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (16,263 ) |  | (249,074 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | - |  | (2,487 )
NET (LIABILITIES)/ASSETS |  |  | (439 ) |  | 93,526
CAPITAL AND RESERVES
Called up share capital | 9 |  | 100 |  | 100
Profit and Loss Account |  |  | (539 ) |  | 93,426
SHAREHOLDERS' FUNDS |  |  | (439) |  | 93,526

Page 1
Page 2
Seven Seas Motors Limited
Balance Sheet (continued)
As At 31 July 2024
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Eric Garnier Director | Mr Mark Gibson Director
14th October 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Seven Seas Motors Limited
Notes to the Financial Statements
For The Year Ended 31 July 2024
Notes to the Financial Statements
1. General Information
Seven Seas Motors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10270382 . The registered office is Castle House , Castle Street, Guildford, Surrey, GU1 3UW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 25% on cost
Fixtures & Fittings | 25% on cost

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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 applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
Seven Seas Motors Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2024
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets

| Plant & Machinery | Fixtures & Fittings | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 August 2023 | 19,060 | 1,470 | 20,530
Additions | 8,168 | 1,592 | 9,760
As at 31 July 2024 | 27,228 | 3,062 | 30,290
Depreciation
As at 1 August 2023 | 5,972 | 1,470 | 7,442
Provided during the period | 6,140 | 280 | 6,420
As at 31 July 2024 | 12,112 | 1,750 | 13,862
Net Book Value
As at 31 July 2024 | 15,116 | 1,312 | 16,428
As at 1 August 2023 | 13,088 | - | 13,088

5. Stocks

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Motor vehicles (stock) | 374,597 |  | 394,000

Page 4
Page 5
Seven Seas Motors Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2024
6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 45,305 |  | 30,885
Other debtors | 7,121 |  | 528
| 52,426 |  | 31,413

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 2,650 |  | 502
Bank loans and overdrafts | 10,001 |  | 21,691
Other creditors | 407,863 |  | 59,888
Taxation and social security | 25,772 |  | 45,393
| 446,286 |  | 127,474

8. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | 8,308 |  | 23,294
Other creditors | 7,955 |  | 225,780
| 16,263 |  | 249,074

9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Not later than one year | 45,000 |  | -
Later than one year and not later than five years | 63,750 |  | -
| 108,750 |  | -

Page 5
Page 6
Seven Seas Motors Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2024
11. Related Party Transactions
Included in Other Creditors is £251,566 (2023 - £225,780) owed to Kanmon International of Japan, a company of which Eric Garnier is a director. This loan is non interest bearing and repayable on demand.
12. Ultimate Controlling Party
The company's ultimate controlling party is Eric Garnier by virtue of his ownership of 100% of the issued share capital in the company.
13. Going Concern
As at the balance sheet date the company had net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the forseeable future.
Page 6