Seascape South Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Seascape South Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09364688 . The registered office is BCP Council Civic Centre, Bourne Avenue, Bournemouth, BH2 6EB.

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. Going Concern Disclosure

The Company's management has made an assessment of its ability to continue as a going concern and is satisfied that it has the resources to continue in business for the foreseeable future. The ultimate parent entity is committed to Seascape South Limited as a long-term venture and as such will provide the necessary resources. Furthermore, management is not aware of any material uncertainties that may cast significant doubt upon the Company's ability to continue as a going concern. Therefore, the financial statements are prepared on a going concern basis.

2.3. 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.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. 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.

2.5. 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 years 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Seascape South Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

The Company does not employ any staff direct but seconds labour from the BCP Council.

Total seconded labour costs for the year were £399,348 (2024: £434,277).

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Stocks

	2025	2024
	£	£
Work in progress	100,332	283,850

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	333,085	71,171
Prepayments and accrued income	42,156	178,403
VAT (Value Added Tax)	30,635	34,426
Construction Industry Scheme Tax	4,975	-

	410,851	284,000

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	416,480	165,271
Corporation tax	37,051	37,808
Accruals and deferred income	201,165	427,031

	654,696	630,110

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

8. Related Party Transactions

There were no Director related party transactions during the accounting year. The Company does not directly engage any Directors. Director services are provided by the BCP Council under the terms of a Resourcing Agreement for the provision of support and services to the Company. Officers or Members of the BCP Council that undertake the role of Directors for the Company do not receive any benefits as a result of their roles as Directors of the Company.

BCP Council (BCP)

As ultimate parent entity, to 31st March 2025, BCP Council had effective control over the Company.

The amounts paid to and from this related party were as follows:

Payments to: £1,399,600 (2024: £634,075)

Payments from:£823,235 (2024: £743,070)

The amounts owing to and from this related party were as follows:

Owing to: £406,100 (2024: £164,360)

Owing from: £134,733 (2024: £64,426)

Seascape South Limited contracts and sources labour from the BCP Council who in turn contract and source labour from BBML albeit not exclusively, as the BCP Council has its own internal workforce which may be contracted out to Seascape South Limited dependent on the Company’s requirements. The payments for the labour are included in the amounts shown above in relation to the BCP Council as no direct payments are made to BBML.

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Seascape South Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Ultimate Controlling Party

The Company's ultimate parent entity and controlling party is BCP Council. This company is a wholly owned subsidiary of Seascape Group Limited, of which BCP Council is the only shareholder

10. Audit Information

The auditor's report on the accounts of Seascape South Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Nick Hixson (Senior Statutory Auditor) for and on behalf of Hixsons Chartered Certified Accountants , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	100,332		283,850
Debtors	5	410,851		284,000
Cash at bank and in hand		517,302		343,624

		1,028,485		911,474
Creditors: Amounts Falling Due Within One Year	6	(654,696 )		(630,110 )

NET CURRENT ASSETS (LIABILITIES)			373,789		281,364

TOTAL ASSETS LESS CURRENT LIABILITIES			373,789		281,364

NET ASSETS			373,789		281,364

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			373,788		281,363

SHAREHOLDERS' FUNDS			373,789		281,364