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Registered number: 10521625
Seabarley Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tax Assure Accountants Ltd
Chartered Certified Accountants
400 Green Lanes
London
N13 5PD
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr Sonjon Kurishita
Company Number 10521625
Registered Office 139 King's Cross Road
London
WC1X 9BJ
Accountants Tax Assure Accountants Ltd
Chartered Certified Accountants
400 Green Lanes
London
N13 5PD
Page 1
Page 2
Balance Sheet
Registered number: 10521625
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,500 27,625
Tangible Assets 5 1,488 3,967
Investments 6 20,501 20,501
47,489 52,093
CURRENT ASSETS
Stocks 7 2,600 2,600
Debtors 8 101,305 10,952
Cash at bank and in hand 14,277 1,173
118,182 14,725
Creditors: Amounts Falling Due Within One Year 9 (127,784 ) (23,582 )
NET CURRENT ASSETS (LIABILITIES) (9,602 ) (8,857 )
TOTAL ASSETS LESS CURRENT LIABILITIES 37,887 43,236
Creditors: Amounts Falling Due After More Than One Year 10 (34,894 ) (102,885 )
NET ASSETS/(LIABILITIES) 2,993 (59,649 )
CAPITAL AND RESERVES
Called up share capital 11 4 4
Profit and Loss Account 2,989 (59,653 )
SHAREHOLDERS' FUNDS 2,993 (59,649)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Sonjon Kurishita
Director
19/12/2025
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Seabarley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10521625 . The registered office is 139 King's Cross Road, London, WC1X 9BJ.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business in 2017 and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. 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 over 5 years
2.6. 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 the profit and loss account as incurred.
2.7. 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.
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2.8. 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.
2.9. 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.
2.10. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 18)
24 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 42,500
As at 31 December 2024 42,500
Amortisation
As at 1 January 2024 14,875
Provided during the period 2,125
As at 31 December 2024 17,000
Net Book Value
As at 31 December 2024 25,500
As at 1 January 2024 27,625
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 20,647
As at 31 December 2024 20,647
Depreciation
As at 1 January 2024 16,680
Provided during the period 2,479
As at 31 December 2024 19,159
Net Book Value
As at 31 December 2024 1,488
As at 1 January 2024 3,967
6. Investments
Other
£
Cost or Valuation
As at 1 January 2024 20,501
As at 31 December 2024 20,501
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 20,501
As at 1 January 2024 20,501
7. Stocks
2024 2023
£ £
Materials 2,600 2,600
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,758 7,991
Other debtors 98,547 2,961
101,305 10,952
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,539 7,216
Bank loans and overdrafts 58,949 7,571
Other creditors 19,260 7,937
Taxation and social security 45,036 858
127,784 23,582
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 34,894 48,985
Other creditors - 53,900
34,894 102,885
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 29,958 42,500
Later than one year and not later than five years 16,625 46,583
46,583 89,083
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Sonjon Kurishita - 188,321 (125,236 ) - 63,085
The above loan is unsecured, interest bearing at 3% per annum and repayable on demand.
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