Seascape Homes And Property Limited

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

1. General Information

Seascape Homes And Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10030233 . 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 have 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. 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. The turnover shown in the Statements of Profit and Loss represents revenue recognised by the Company in respect of rental properties during the year.

2.4. 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.

2.5.

Leases

Rentals payable and operating leases are charged to Profit and Loss on the proportion of the net profit over the lease time. All unpaid tenant rents are deducted from lease payments and charged to the bad debt provision hence it is the Council that ultimately bears this debtor risk.

3. Average Number of Employees

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

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Seascape Homes And Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1	1,386
Prepayments and accrued income	15,381	316
Rent deposits	140,134	113,162

	155,516	114,864

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Corporation tax	48,485	30,011
Tenants rent in advance	72,643	48,648
Lease payments due	609,911	473,304
Rental deposits	140,134	113,162
Accruals and deferred income	26,255	21,768

	897,428	686,893

6. Share Capital

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

7. Other Commitments

Leases – Operating – as a Lessee

All of these operating leases are for properties leased from BCP Council. While these leases can be for up to 25 years, the legal obligation that results in a transfer of economic benefit arises from the Assured Shorthold Tenancies which are a maximum of 12 months. Therefore there are no lease payments due later than one year.

The minimum future lease payments due in future years are:

	2025	2024
	£	£
Not later than one year	1,053,166	865,155

	1,053,166	865,155

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Seascape Homes And Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

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 Council under the terms of a Resourcing Agreement for the provision of support and services to the Company. Officers or Members of the 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

As ultimate parent entity, the Council has effective control over the Company.

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

Payments to: £1,887,697 (2024: £1,522,710)

Payments from: £nil (2024: £nil)

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

Owing to: £622,744 (2024: £487,008)

Owing from: £nil (2024: £nil)

9. Ultimate Controlling Party

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

10. Audit Information

The auditor's report on the accounts of Seascape Homes And Property 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
Debtors	4	155,516		114,864
Cash at bank and in hand		846,759		609,168

		1,002,275		724,032
Creditors: Amounts Falling Due Within One Year	5	(897,428 )		(686,893 )

NET CURRENT ASSETS (LIABILITIES)			104,847		37,139

TOTAL ASSETS LESS CURRENT LIABILITIES			104,847		37,139

NET ASSETS			104,847		37,139

CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss Account			104,846		37,138

SHAREHOLDERS' FUNDS			104,847		37,139