SEASALT HOLDINGS LIMITED

1. SEASALT HOLDINGS LIMITED 2018-08-20 → present
2. CHADWICK BROTHERS LIMITED 2004-11-17 → 2018-08-20
3. MES AMIS LIMITED 2002-08-15 → 2004-11-17

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

PKF Francis Clark

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a Going Concern Basis. The Directors consider this to be appropriate for the following reasons: The Group continues to trade well, despite a volatile macro environment, posting strong results for the year ended 1 February 25; The Group maintains a 5 year long-range plan, the latest version of this indicates that Seasalt generates robust free cash flow and has sufficient liquidity to cover liabilities; Liquidity remains strong: the Group had £4.8m of cash as at 1 February 25, and was undrawn on the £7m revolving Credit Facility; and The Group maintains a comprehensive suite of risk registers which are up to date and subject to continuous ongoing review at the Executive Board level and with the Audit Committee. The Group has demonstrated over recent years that it can identify issues early and respond with agility to mitigate risks appropriately.”

Group structure

1. SEASALT HOLDINGS LIMITED · parent
   1. Seasalt Limited 100% · UK · wholesale and retail sale of clothing and footwear
   2. Seasalt USA Incorporated 100% · USA · holding company
   3. Seasalt USA (Partners) Incorporated 100% · USA · distribution of clothing through third parties
   4. Seasalt USA (Retail) Incorporated 100% · USA · retail sale of clothing and footwear
   5. Seasalt Clothing (Ireland) Limited 100% · Ireland · dormant company
   6. General Clothing Stores Limited 100% · UK · dormant company

Significant events

• “Overall the year ended 1 February 2025 was an outstanding year for Seasalt with revenues of £150m, up 13% on the prior year. We have grown revenues by over £50m over the last three years and doubled the size of the business over the last five years.”
• “In the year ended 1 February 2025 we achieved a number of key milestones against our strategy, including becoming an accredited B Corp, rapidly scaling our European business with Germany becoming our second largest market in terms of retail sales, and opening our first store in the US.”
• “In the year ended February 2025 we opened stores in Glasgow and Rushden Lakes, as well as relocating our store in Cribbs Causeway Bristol. We also continued our international store expansion opening our fourth Irish store in Wexford and opening our first U.S. store on Cape Cod.”
• “In March 2024 we implemented Microsoft D365 point-of sale software across our store estate, replacing Microsoft Dynamics AX. We introduced Microsoft's Order Management System (OMS) with its Distributed Order Management (DOM) solution.”
• “We invested in delivering our new loyalty program "Seasalt Rewards" which launched in May 2025 on Microsoft D365.”
• “During 2024, we also began the implementation of Microsoft D365's finance, stock and warehouse management elements. We decided to halt the project indefinitely, refocusing our capital allocation on projects supporting our ambitious growth plans, and resulting in an impairment, recognised in non-recurring administrative expenses, of £2.4m.”
• “Other non-recurring administrative expenses included one-off redundancy costs and a provision for an outstanding Irish customs duty reclaim related to Brexit, bringing the total non-recurring administrative expenses to £2.9m.”
• “In July 2024, the Group became a Certified B Corporation with a score of 100.2.”
• “Following the rise in employment costs resulting from the increase in employer's national insurance contribution announced in the Chancellor's Budget of October 2024, alongside the rise in the Real Living Wage, the Group conducted Collective Consultations across its Head Office and Retail teams resulting in 76 redundancies.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

6

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  +542.7%

  £30,911 → £198,650

• Net assets

  -0.5%

  £3,449,862 → £3,431,654

• Employees

  —

  Not reported

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers