Seathor Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Seathor Limited

(Registration number: 11781850)
Statement of Financial Position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	4,408	4,775
Tangible assets	5	3,305	2,888
		7,713	7,663
Current assets
Stocks	6	119,459	86,584
Debtors	7	351,952	223,207
Cash at bank and in hand		42,973	38,455
		514,384	348,246
Creditors: Amounts falling due within one year	8	(337,971)	(180,611)
Net current assets		176,413	167,635
Total assets less current liabilities		184,126	175,298
Provisions for liabilities		(628)	(549)
Net assets		183,498	174,749
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		182,498	173,749
Shareholders' funds		183,498	174,749

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 16 September 2026
 

Seathor Limited

(Registration number: 11781850)
Statement of Financial Position as at 31 March 2026

......................................... Mr A Simmonds Director

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Ebor Street
Littleborough
Lancashire
OL15 9AS

These financial statements were authorised for issue by the director on 16 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	4 Year Straight Line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patents	17 Year Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2025 - 4).

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 April 2025	6,244	6,244
At 31 March 2026	6,244	6,244
Amortisation
At 1 April 2025	1,469	1,469
Amortisation charge	367	367
At 31 March 2026	1,836	1,836
Carrying amount
At 31 March 2026	4,408	4,408
At 31 March 2025	4,775	4,775

The aggregate amount of research and development expenditure recognised as an expense during the period is £660,810 (2025 - £133,773).
 

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2025	6,882	6,882
Additions	2,650	2,650
At 31 March 2026	9,532	9,532
Depreciation
At 1 April 2025	3,994	3,994
Charge for the year	2,233	2,233
At 31 March 2026	6,227	6,227
Carrying amount
At 31 March 2026	3,305	3,305
At 31 March 2025	2,888	2,888

6

Stocks

	2026 £	2025 £
Work in progress	-	35,000
Other inventories	119,459	51,584
	119,459	86,584

7

Debtors

Current	2026 £	2025 £
Trade debtors	47,465	95,454
Prepayments	2,963	121,207
Other debtors	301,524	6,546
	351,952	223,207

8

Creditors

Creditors: amounts falling due within one year

Seathor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

	Note	2026 £	2025 £
Due within one year
Trade creditors		133,421	129,960
Amounts owed to group undertakings and undertakings in which the company has a participating interest		189,350	-
Taxation and social security		10,788	41,856
Accruals and deferred income		30	5,226
Other creditors		4,382	3,569
		337,971	180,611