Acorah Software Products - Accounts Production 16.8.200 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 11898987 A W Owens A J Lewis C Owens P E Glade iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11898987 2024-03-31 11898987 2025-03-31 11898987 2024-04-01 2025-03-31 11898987 frs-core:Non-currentFinancialInstruments 2025-03-31 11898987 frs-core:ComputerEquipment 2024-04-01 2025-03-31 11898987 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 11898987 frs-core:FurnitureFittings 2024-04-01 2025-03-31 11898987 frs-core:InvestmentPropertyIncludedWithinPPE 2025-03-31 11898987 frs-core:MotorVehicles 2024-04-01 2025-03-31 11898987 frs-core:PlantMachinery 2024-04-01 2025-03-31 11898987 frs-core:ShareCapital 2025-03-31 11898987 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 11898987 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11898987 frs-bus:AbridgedAccounts 2024-04-01 2025-03-31 11898987 frs-bus:SmallEntities 2024-04-01 2025-03-31 11898987 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 11898987 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 11898987 frs-bus:OrdinaryShareClass1 2024-04-01 2025-03-31 11898987 frs-bus:OrdinaryShareClass1 2025-03-31 11898987 frs-bus:PreferenceShareClass1 2024-04-01 2025-03-31 11898987 frs-bus:PreferenceShareClass1 2025-03-31 11898987 frs-core:AdditionsToInvestments 2025-03-31 11898987 frs-core:CostValuation 2025-03-31 11898987 frs-bus:Director1 2024-04-01 2025-03-31 11898987 frs-bus:Director2 2024-04-01 2025-03-31 11898987 frs-bus:Director3 2024-04-01 2025-03-31 11898987 frs-bus:Director4 2024-04-01 2025-03-31 11898987 frs-countries:EnglandWales 2024-04-01 2025-03-31 11898987 2023-03-31 11898987 2024-03-31 11898987 2023-04-01 2024-03-31 11898987 frs-core:Non-currentFinancialInstruments 2024-03-31 11898987 frs-core:ShareCapital 2024-03-31 11898987 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11898987 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11898987 frs-bus:PreferenceShareClass1 2023-04-01 2024-03-31
Registered number: 11898987
Seabarn Works Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 11898987
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,935 7,908
Tangible Assets 5 323,685 315,784
Investment Properties 6 4,044,051 4,148,488
Investments 7 200,100 -
4,573,771 4,472,180
CURRENT ASSETS
Stocks 33,648 8,968
Debtors 8 1,798,143 290,175
Cash at bank and in hand 18,949 45,063
1,850,740 344,206
Creditors: Amounts Falling Due Within One Year (149,276 ) (260,981 )
NET CURRENT ASSETS (LIABILITIES) 1,701,464 83,225
TOTAL ASSETS LESS CURRENT LIABILITIES 6,275,235 4,555,405
Creditors: Amounts Falling Due After More Than One Year (50,000 ) (5,175,290 )
NET ASSETS/(LIABILITIES) 6,225,235 (619,885 )
CAPITAL AND RESERVES
Called up share capital 9 6,878,431 100
Profit and Loss Account (653,196 ) (619,985 )
SHAREHOLDERS' FUNDS 6,225,235 (619,885)
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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 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Seabarn Works Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11898987 . 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 are prepared under the historical cost convention and in accordance with the FRS 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 Pound Sterling.
The financial statements contain information about Seabarn Works Limited 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. 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 received the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs. They are amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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 5 years
Motor Vehicles 5 years
Fixtures & Fittings 10 years
Computer Equipment 5 years
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. 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.
2.7. 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. The company only holds basic financial instruments at amortised cost and none at sale value.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2024: 12)
12 12
4. Intangible Assets
Total
£
Cost
As at 1 April 2024 9,500
As at 31 March 2025 9,500
Amortisation
As at 1 April 2024 1,592
Provided during the period 1,973
As at 31 March 2025 3,565
Net Book Value
As at 31 March 2025 5,935
As at 1 April 2024 7,908
5. Tangible Assets
Total
£
Cost
As at 1 April 2024 366,761
Additions 85,489
Disposals (28,490 )
As at 31 March 2025 423,760
...CONTINUED
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Depreciation
As at 1 April 2024 50,977
Provided during the period 49,098
As at 31 March 2025 100,075
Net Book Value
As at 31 March 2025 323,685
As at 1 April 2024 315,784
6. Investment Property
2025
£
Fair Value
As at 1 April 2024 4,148,488
Additions 980,965
Disposals (1,026,281 )
Depreciation and impairment (59,121 )
As at 31 March 2025 4,044,051
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2025 2024
£ £
Cost 4,103,172 4,148,488
7. Investments
Total
£
Cost or Valuation
As at 1 April 2024 -
Additions 200,100
As at 31 March 2025 200,100
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 200,100
As at 1 April 2024 -
During the year the company acquired the following subsidiary undertaking.
Subsidiary
Seabarn Retreat Limited
Registered office: Fowlescombe Farm, Ugborough, Ivybridge, PL1 0HW
Nature of business: Hotels and similar accommodation
Class of share: Ordinary
Holding: 100%
Aggregate capital and reserves: £387,983 credit (2024: £nil)
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8. Debtors
2025 2024
£ £
Due after more than one year
Deferred tax current asset 504,051 235,260
Amounts owed by group undertakings 225,900 -
729,951 235,260
The deferred tax balance is made up of an asset for trade losses in the sum of £571,675 and a liability for capital allowances in the sum of £67,624.
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
100,000 Ordinary Shares of £ 0.001 each 100 100
Preference Shares
2025 2024
Allotted, called up and fully paid £ £
6,878,331 Preference Shares of £ 1.000 each 6,878,331 -
During the year 100 £1 Ordinary shares were sub-divided into 100,000 £0.001 Ordinary shares.
10. Related Party Transactions
During the year the company sold goods and services to Seabarn Retreat Limited in the sum of £917,996. At the balance sheet date the company was owed £835,577 from Seabarn Retreat Limited for these goods and services. At the balance sheet date the company is also owed £225,900 from Seabarn Retreat Limited for the provision of a loan facility. Seabarn Retreat Limited is a subsidiary company.
During the year the company purchased goods and services from Seabarn Management in the sum of £855 and recharged services in the sum of £975. At the balance sheet date the company owed Seabarn Management £2,210 for the goods and services. At the balance sheet date, the company also owes £50,000 to Seabarn Management for the provision of a loan facility. Seabarn Management is controlled by A Owens (director) and A Lewis (director).
During the year the company purchased goods and services from Fowlescombe Farm LLP in the sum of £84,771. At the balance sheet date the company owed Fowlescombe Farm LLP £84,771 for the goods and services. Fowlescombe Farm LLP is under the control of A Owens (director) and A Lewis (director).
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