REGISTERED NUMBER: 07927727 (England and Wales)

SEATON QUAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Peter C Rich

Edward I Rich

Abigail K Rich

SECRETARY:

Caroline A Hall

REGISTERED OFFICE:

43 Portland Road

London

W11 4LJ

REGISTERED NUMBER:

07927727 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

CURRENT ASSETS

Inventories

4

15,702,585

20,409,180

Debtors

5

73,281

95,714

Cash at bank

72,050

60,900

15,847,916

20,565,794

CREDITORS

Amounts falling due within one year

6

14,330,449

610,316

NET CURRENT ASSETS

1,517,467

19,955,478

TOTAL ASSETS LESS CURRENT LIABILITIES

1,517,467

19,955,478

CREDITORS

Amounts falling due after more than one year

7

4,856,764

22,715,802

NET LIABILITIES

(3,339,297

)

(2,760,324

)

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

(3,340,297

)

(2,761,324

)

SHAREHOLDERS' FUNDS

(3,339,297

)

(2,760,324

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

Edward I Rich - Director

1.	STATUTORY INFORMATION

Seaton Quay Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies of the company have remained unchanged from the previous year and are set out below.

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (GBP).

Rental income

Rental income, which excludes value added tax, represents rent from investment properties leased out under operating lease agreements and is measured at the fair value of the consideration received or receivable. Rental income from operating leases is recognised in the Income Statement on a straight line basis over the lease term. The lease term is the non-cancellable period of the lease. Where income is received in advance for a period beyond the accounting year end, income is deferred and a liability is recognised on the Balance Sheet.

Inventories

Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Revenue recognition

Revenue from property sales is recognised when control of the property is transferred to the buyer, which is typically upon legal completion of the sale. At this point, all significant risks and rewards of ownership are considered to have passed to the purchaser, and the company has no continuing managerial involvement.

Deposits received from customers on exchanged contracts, where completion has not yet occurred, are accounted for as deferred income and are not recognised as revenue.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INVENTORIES

2026

2025

£

£

Stocks

15,702,585

20,409,180

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

28,942

-

Other debtors

44,339

95,714

73,281

95,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

147,738

580,780

Amounts owed to group undertakings

14,144,654

-

VAT

21,329

-

Other creditors

4,715

2,523

Accruals and deferred income

12,013

27,013

14,330,449

610,316

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans (see note 8)

4,856,764

14,493,148

Amounts owed to group undertakings

-

8,222,654

4,856,764

22,715,802

8.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,856,764

14,493,148

The bank loan is secured by fixed and floating charges over the company's assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.	GOING CONCERN

There were net liabilities of £3,339,297 (2025: £2,760,324) at the financial reporting date, however the directors have confirmed that the group will continue to support the company and ensure it remains a going concern.