Seabarn Management

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 10744715

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		613,938		601,865
Investments	5		63,383,955		47,595,592

			63,997,893		48,197,457
CURRENT ASSETS
Debtors	6	5,078,232		9,541,112
Cash at bank and in hand		1,987,166		360,515

		7,065,398		9,901,627
Creditors: Amounts Falling Due Within One Year		(34,601,208 )		(44,320,023 )

NET CURRENT ASSETS (LIABILITIES)			(27,535,810 )		(34,418,396 )

TOTAL ASSETS LESS CURRENT LIABILITIES			36,462,083		13,779,061

PROVISIONS FOR LIABILITIES
Deferred Taxation			(153,484 )		(171,027 )

NET ASSETS			36,308,599		13,608,034

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			36,308,499		13,607,934

SHAREHOLDERS' FUNDS			36,308,599		13,608,034

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Seabarn Management

Abridged Balance Sheet (continued)

As At 31 March 2025

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.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

A W Owens

Director

29 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Seabarn Management is a private company, limited by shares, incorporated in England & Wales, registered number 10744715 . The registered office is Fowlescombe Farm, Ugborough, Ivybridge, Devon, PL21 0ZG.

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.

The presentation currency of the financial statements is the pound sterling (£).

The financial statements contain information about Seabarn Management as an individual company and do not contain consolidated financial information as the parent of a group. The company and group qualifies as small under section 383 of the Companies Act 2006 and the parent and group are considered eligile for the exemption as determined by reference to sections 384 and 399 (2A) of the Companies Act 2006.

2.2. 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	10% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	33% straight line

Listed investments are measured at their open market value with changes in valuation recognisted in the profit and loss account.

Subsidiaries, associates, unlisted investments and corporate loans are measured at their historical cost and subject to impairment.

2.3. Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Unlisted investments and corporate loan notes are basic financial instruments and measured at their cost. Listed investments are measured at their open market value. Investments in foreign currencies are translated into pound sterling in accordance with the foreign currencies accounting policy.

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at either the daily or montly average rate applicable to the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

...CONTINUED

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Seabarn Management

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

4. Tangible Assets

	Total
	£
Cost
As at 1 April 2024	691,016
Additions	94,395

As at 31 March 2025	785,411

Depreciation
As at 1 April 2024	89,151
Provided during the period	82,322

As at 31 March 2025	171,473

Net Book Value
As at 31 March 2025	613,938

As at 1 April 2024	601,865

5. Investments

	Total
	£
Cost or Valuation
As at 1 April 2024	47,595,592
Additions	61,242,496
Disposals	(46,429,915 )
Revaluations	975,782

As at 31 March 2025	63,383,955

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	63,383,955

As at 1 April 2024	47,595,592

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Seabarn Management

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

The company's investments at the balance sheet date in the share capital of companies include the following:

Subsidiaries

Seabarn Properties Poole Limited

Registered office: Fowlescombe Farm, Ugborough, Ivybridge, PL21 OZG

Nature of business: Letting and operating of real estate

Class of shares: Ordinary

Percentage holding: 100%

Aggregate capital and reserves £301,593

Associated companies

Fowlescombe Rare & Pasture Limited

Registered office: Fowlescombe Farm, Ugborough, Ivybridge, PL21 OZG

Nature of business: Retail sale of meat and meat products in specialised stores

Class of shares: Ordinary

Percentage holding: 42% (direct)

Aggregate capital and reserves £841,411

The Curing Barn Limited

Registered office: Fowlescombe Farm, Ugborough, Ivybridge, PL21 OZG

Nature of business: Retail sale of meat and meat products in specialised stores

Class of shares: Ordinary

Percentage holding: 42% (indirect)

Aggregate capital and reserves £50,000

Tempus Foods Limited

Registered office: Fowlescombe Farm, Ugborough, Ivybridge, PL21 OZG

Nature of business: Production of meat and poultry meat products

Class of shares: Ordinary

Percentage holding: 42% (indirect)

Aggregate capital and reserves £(4,765)

6. Debtors

	2025	2024
	£	£
Due after more than one year
Amounts owed by subsidiaries	918,811	-
Amounts owed by associates	3,877,511	-

	4,796,322	-

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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