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Registered number: 08465081
Seabrease Limited
Unaudited Financial Statements
For The Year Ended 31 March 2026
Stuart J Tucker & Co
Seabrease Limited
Contents
Contents

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

Page 1
Seabrease Limited
Balance Sheet
As At 31 March 2026
Balance Sheet
Registered number: 08465081

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 5 |  | 18,057 |  | 17,262
|  |  | 18,057 |  | 17,262
CURRENT ASSETS
Stocks | 6 | 1,000 |  | 1,000 |
Debtors | 7 | 14,823 |  | 15,073 |
Cash at bank and in hand |  | 3 |  | 28 |
|  | 15,826 |  | 16,101 |
Creditors: Amounts Falling Due Within One Year | 8 | (9,097 ) |  | (17,830 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 6,729 |  | (1,729 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 24,786 |  | 15,533
Creditors: Amounts Falling Due After More Than One Year | 9 |  | - |  | (1,511 )
NET ASSETS |  |  | 24,786 |  | 14,022
CAPITAL AND RESERVES
Called up share capital | 10 |  | 100 |  | 100
Profit and Loss Account |  |  | 24,686 |  | 13,922
SHAREHOLDERS' FUNDS |  |  | 24,786 |  | 14,022

Page 1
Page 2
Seabrease Limited
Balance Sheet (continued)
As At 31 March 2026
For the year ending 31 March 2026 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

Miss Julie Twigg Director
30 July 2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Seabrease Limited
Notes to the Financial Statements
For The Year Ended 31 March 2026
Notes to the Financial Statements
1. General Information
Seabrease Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08465081 . The registered office is 31 Fore Street, Sidmouth, Devon, EX10 8AQ.
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. 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 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:

Leasehold | Over the term of the lease
Plant & Machinery | 20% Reducing Balance
Fixtures & Fittings | 20 Reducing Balance

2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2025: 1)
2 1
Page 3
Page 4
Seabrease Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
4. Intangible Assets

| Goodwill
--- | ---
| £
Cost
As at 1 April 2025 | 10,000
As at 31 March 2026 | 10,000
Amortisation
As at 1 April 2025 | 10,000
As at 31 March 2026 | 10,000
Net Book Value
As at 31 March 2026 | -
As at 1 April 2025 | -

5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Fixtures & Fittings | Total
| £ | £ | £ | £
Cost
As at 1 April 2025 | 6,982 | 24,967 | 16,126 | 48,075
Additions | - | 1,731 | 1,834 | 3,565
As at 31 March 2026 | 6,982 | 26,698 | 17,960 | 51,640
Depreciation
As at 1 April 2025 | - | 20,109 | 10,704 | 30,813
Provided during the period | - | 1,318 | 1,452 | 2,770
As at 31 March 2026 | - | 21,427 | 12,156 | 33,583
Net Book Value
As at 31 March 2026 | 6,982 | 5,271 | 5,804 | 18,057
As at 1 April 2025 | 6,982 | 4,858 | 5,422 | 17,262

6. Stocks

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Stock | 1,000 |  | 1,000

Page 4
Page 5
Seabrease Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
7. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Prepayments and accrued income | (2,949 ) |  | (2,699 )
Corporation tax recoverable assets | 4,319 |  | 4,319
Directors' loan accounts | 13,453 |  | 13,453
| 14,823 |  | 15,073

8. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Trade creditors | 699 |  | 699
Bank loans and overdrafts | 4,353 |  | 13,512
Corporation tax | 4,045 |  | 3,619
| 9,097 |  | 17,830

9. Creditors: Amounts Falling Due After More Than One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Bank loans | - |  | 1,511

10. Share Capital

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 April 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 March 2026
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Miss Julie Twigg | 13,453 | 7,275 | 7,275 | - | 13,453

The above loan is unsecured, interest free and repayable on demand.
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