Sea & Sea Limited - Filleted accounts

Registered number

01469786

Sea & Sea Limited

Unaudited Filleted Accounts

30 November 2025

Sea & Sea Limited
Registered number:		01469786
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		3,679			3,866

Current assets
Stocks		262,045			53,271
Debtors	4	377,211			383,723
Cash at bank and in hand		503,528			531,243
		1,142,784			968,237

Creditors: amounts falling due within one year	5	(408,285)			(384,144)

Net current assets			734,499			584,093

Total assets less current liabilities			738,178			587,959


Provisions for liabilities			(921)			-


Net assets			737,257			587,959

Capital and reserves
Called up share capital			100			100
Profit and loss account			737,157			587,859

Shareholders' funds			737,257			587,959

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr D Millin
Director
Approved by the board on 14 August 2026

Sea & Sea Limited
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			15% reducing balance
	Fixtures, fittings and equipment			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors and creditors receivable/payable within one year
	Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					6		7


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 December 2024	104,314		318,912		15,495		438,721
	Additions	-		678		-		678
	At 30 November 2025	104,314		319,590		15,495		439,399

	Depreciation
	At 1 December 2024	104,314		316,883		13,658		434,855
	Charge for the year	-		406		459		865
	At 30 November 2025	104,314		317,289		14,117		435,720

	Net book value
	At 30 November 2025	-		2,301		1,378		3,679
	At 30 November 2024	-		2,029		1,837		3,866


4	Debtors					2025		2024
£							£

	Trade debtors					62,553		75,124
	Deferred tax asset					-		19,028
	Other debtors					314,658		289,571
						377,211		383,723


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					10,706		1,243
	Taxation and social security costs					23,029		13,343
	Other creditors					374,550		369,558
						408,285		384,144


6	Related party transactions

	In the year, there were intercompany loans to / (from) the following related close companies controlled by the directors:

						2025		2024
£							£

	Aspen Properties (South West) Limited					19,560

	Sea and Sea (Holdings) Limited					281,621		280,221

	West Country Wetsuits Ltd					(318,601)		(319,321)


7	Other information

	Sea & Sea Limited is a private company limited by shares and incorporated in England. Its registered office is:

	Phillip House
	Aspen Way
	Paignton
	Devon
	TQ4 7QR