Seashore Enterprises (Porthcawl) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00483382

Seashore Enterprises (Porthcawl) Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Seashore Enterprises (Porthcawl) Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Seashore Enterprises (Porthcawl) Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Seashore Enterprises (Porthcawl) Limited

Year ended 31 March 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CLAY SHAW THOMAS LTD Chartered accountants

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

15 December 2025

Seashore Enterprises (Porthcawl) Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,654,670	2,556,659

Current assets

Stocks		90,727	75,676
Debtors	6	160,465	172,601
Cash at bank and in hand		1,515,157	1,402,368
		------------	------------
		1,766,349	1,650,645

Creditors: amounts falling due within one year	7	749,331		995,179
		------------		------------
Net current assets			1,017,018	655,466
			------------	------------
Total assets less current liabilities			3,671,688	3,212,125

Creditors: amounts falling due after more than one year	8		194,870	105,269

Provisions

Taxation including deferred tax	173,899	173,899
	------------	------------
Net assets	3,302,919	2,932,957
	------------	------------

Capital and reserves

Called up share capital	500	500
Profit and loss account	3,302,419	2,932,457
	------------	------------
Members funds	3,302,919	2,932,957
	------------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Seashore Enterprises (Porthcawl) Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

Mrs F R Dower

Director

Company registration number: 00483382

Seashore Enterprises (Porthcawl) Limited

Notes to the Financial Statements

Year ended 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 Hi-Tide Inn, Mackworth Road, Porthcawl, CF36 5BT.

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.

Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectation of future events that are believed to be reasonable under the circumstances; (a) Critical accounting estimates and assumptions The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that involve a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (i) Useful economic lives of tangible assets The annual depreciation charge of tangible assets is sensitive to changes in the estimated useful economic life, so residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, economic utilisation, and the physical condition of the assets. See notes to the financial statements for the carrying amounts of plant, property and equipment and for the useful economic lives for each class of assets.

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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Leasehold buildings	-	2% straight line
Plant & equipment	-	15% straight line
Fixtures & fittings	-	15% straight line
Motor vehicles	-	25% straight line

Leasehold land is not depreciated.

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.

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 entity 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.

Defined contribution plans

The company operates a defined contribution scheme for the benefit of certain directors. The pension costs charges against profits represent the amount of contributions payable to the scheme in respect of the accounting period.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 74 (2024: 75 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	2,955,992	1,857,938	980,084	207,194	6,001,208
Additions	68,500	166,257	13,544	166,794	415,095
Disposals	–	( 83,698)	( 9,360)	–	( 93,058)
	------------	------------	---------	---------	------------
At 31 March 2025	3,024,492	1,940,497	984,268	373,988	6,323,245
	------------	------------	---------	---------	------------
Depreciation
At 1 April 2024	1,040,589	1,345,893	939,143	118,924	3,444,549
Charge for the year	59,226	149,870	12,772	71,945	293,813
Disposals	–	( 60,427)	( 9,360)	–	( 69,787)
	------------	------------	---------	---------	------------
At 31 March 2025	1,099,815	1,435,336	942,555	190,869	3,668,575
	------------	------------	---------	---------	------------
Carrying amount
At 31 March 2025	1,924,677	505,161	41,713	183,119	2,654,670
	------------	------------	---------	---------	------------
At 31 March 2024	1,915,403	512,045	40,941	88,270	2,556,659
	------------	------------	---------	---------	------------

Land and buildings are classified as long leasehold.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 March 2025	85,455	154,953	240,408
	--------	---------	---------
At 31 March 2024	86,035	81,521	167,556
	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	527	2,107
Other debtors	159,938	170,494
	---------	---------
	160,465	172,601
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	51,165	256,694
Trade creditors	199,719	293,991
Social security and other taxes	228,661	139,384
Other creditors	269,786	305,110
	---------	---------
	749,331	995,179
	---------	---------

The bank loans and overdrafts are secured by a legal mortgage dated 18 December 1987 over the leasehold land and buildings adjacent to Mackworth Road, Porthcawl. The hire purchase liability is secured on the asset to which they relate.

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

	2025	2024
	£	£
Bank loans and overdrafts	1,744	11,777
Other creditors	193,126	93,492
	---------	---------
	194,870	105,269
	---------	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	12,159	12,159
Later than 1 year and not later than 5 years	24,318	36,477
	--------	--------
	36,477	48,636
	--------	--------

10. Directors' advances, credit and guarantees

Included within debtors is an amount of £7,335 (2024: £3,265 due to) due from Mrs F R Dower and £4,818 (2024: £5,782 due to) due from Mr G Dower.

	Mrs F R Dower	Mr G Dower
	£	£
Balance due to the directors at 1 April 2024	3,265	5,782
Withdrawn	(10,600)	(10,600)
	--------	--------
Balance due from the directors at 31 March 2025	(7,335)	(4,818)
	--------	--------

There are no set repayment terms or interest charges on these loans.

11. Related party transactions

During the year the company paid £6,500 (2024:£5,000) for legal fees to Mrs M A Quantock Shuldham, a director.

12. Controlling party

The ultimate controlling party is Mrs F R Dower, a director of the company, who owns 57.2% of the issued share capital.