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Registered number: 01542586
Seawell Grounds Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
AMEC Consultancy Limited
Chartered Accountants
9 Heath Way
Burton Latimer
Kettering
Northamptonshire
NN15 5YF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01542586
2025 2024
Notes £ £ £ £
FIXED ASSETS
Biological assets 4 38,850 37,050
Tangible Assets 5 309,510 311,084
348,360 348,134
CURRENT ASSETS
Debtors 6 577 577
Cash at bank and in hand 4,434 4,434
5,011 5,011
Creditors: Amounts Falling Due Within One Year 7 (797,955 ) (798,763 )
NET CURRENT ASSETS (LIABILITIES) (792,944 ) (793,752 )
TOTAL ASSETS LESS CURRENT LIABILITIES (444,584 ) (445,618 )
NET LIABILITIES (444,584 ) (445,618 )
CAPITAL AND RESERVES
Called up share capital 8 50,000 50,000
Other reserves 1,138,745 1,138,745
Profit and Loss Account (1,633,329 ) (1,634,363 )
SHAREHOLDERS' FUNDS (444,584) (445,618)
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Page 2
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.
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
Mrs Sheelagh Donger
Director
22nd December 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Seawell Grounds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01542586 . The registered office is Seawell Grounds Farm, Foxley, Towcester, Northantamptonshire, NN12 8HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the requirements of the Companies Act 2006 as applicable to companiues subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Montary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments as fair value. The principal accounting polices adopted are set out below.
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.
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.
2.3. 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:
Freehold No depreciation charge
Leasehold 2% Straight line
Plant & Machinery 25% Straight line
Motor Vehicles 25% Straight line
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2.4. Stocks and Work in Progress
Stock 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.  This is in compliance with HM Revenue & Customs guidance on farm stocktaking at Business Income Manual (BIM) BIM55410.
Home-bred or substantially homereared livestock have therefore been appraised on the basis of deemed cost with cattle returned at 60% of market value and sheep at 75% of market value.  Harvested crops are valued on a deemed cost basis at 75% of market value.  Growing crops are valued at cost of inputs and operations undertaken to bring it to its current state and condition.
Biological Assets
The Herd basis convention related to production herds for accounting purposes is applicable in this case.  The prodution herd is included within the Biological Assets which includes the disclosure of the movement (additions / disposals).  
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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 7)
7 7
4. Biological assets
Beef herd
£
Cost
As at 1 April 2024 37,050
Additions 3,600
Disposals (1,800 )
As at 31 March 2025 38,850
Net Book Value
As at 31 March 2025 38,850
As at 1 April 2024 37,050
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2024 436,372 164,839 5,781 606,992
As at 31 March 2025 436,372 164,839 5,781 606,992
Depreciation
As at 1 April 2024 125,288 164,839 5,781 295,908
Provided during the period 1,574 - - 1,574
As at 31 March 2025 126,862 164,839 5,781 297,482
Net Book Value
As at 31 March 2025 309,510 - - 309,510
As at 1 April 2024 311,084 - - 311,084
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 577 577
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,475 3,475
Other loans 792,478 793,189
Other creditors 2,002 2,002
Taxation and social security - 97
797,955 798,763
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 50,000 50,000
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