SEASALT LIMITED
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Cash
£9.9m
+143.9% vs 2025
Net assets
£27m
-2.7% vs 2025
Employees
1,343
-0.5% vs 2025
Profit before tax
£531k
-88.1% lowest in 4 filed years
Watch the reel
Our short-form breakdown of SEASALT LIMITED's latest filing
Seasalt Cornwall is doing nearly £150m in sales, but this year the profits took a dive. Despite the squeeze, cash piled up and the dividend tripled. 🌊🧥
Net assets
4-year trend · vs Consumer Discretionary median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2026-01-31
| Metric | Trend | 2023-01-28 | 2024-01-27 | 2025-02-01 | 2026-01-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | £118,929,707 | £132,577,730 | £149,311,762 | £148,293,573 | -0.7% | |
| Operating profit | — | £7,601,817 | £4,660,399 | £2,199,434 | -52.8% | |
| Profit before tax | £1,726,360 | £7,328,844 | £4,447,201 | £530,645 | -88.1% | |
| Net profit | £1,722,531 | £5,250,775 | £3,285,288 | £362,727 | -89% | |
| Cash | £12,191,011 | £13,696,900 | £4,048,406 | £9,873,805 | +143.9% | |
| Total assets less current liabilities | £26,314,021 | £30,534,312 | £30,590,407 | £28,836,176 | -5.7% | |
| Net assets | £22,755,319 | £24,607,035 | £27,673,264 | £26,934,819 | -2.7% | |
| Equity | £22,755,319 | £24,607,035 | £27,673,264 | £26,934,819 | -2.7% | |
| Average employees | 1,191 | 1,287 | 1,350 | 1,343 | -0.5% | |
| Wages | £23,470,040 | £28,941,673 | £32,290,607 | £32,153,933 | -0.4% | |
| Directors' remuneration | £33,005 | £43,431 | £45,118 | £46,090 | +2.2% | |
| Directors' pension contributions | £NaN | £9,044 | £7,709 | £5,256 | -31.8% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-01-28 | 2024-01-27 | 2025-02-01 | 2026-01-31 |
|---|---|---|---|---|---|
| Operating margin | — | 5.7% | 3.1% | 1.5% | |
| Net margin | 1.4% | 4.0% | 2.2% | 0.2% | |
| Return on capital employed | — | 24.9% | 15.2% | 7.6% | |
| Gearing (liabilities / total assets) | 55.0% | 58.4% | 55.7% | 55.4% | |
| Current ratio | — | 1.38x | 1.32x | 1.31x | |
| Interest cover | — | 10.31x | 8.42x | 4.44x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- SEASALT LIMITED 2007-08-15 → present
- GENERAL CLOTHING STORES LIMITED 1988-05-18 → 2007-08-15
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PKF Francis Clark
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.”
Group structure
- SEASALT LIMITED · parent
- General Clothing Stores Limited 100%
Significant events
- “In May 2025, we relaunched our loyalty program Seasalt Rewards expanding the program to include online as well as our stores channel. Customer reception to Seasalt Rewards has been fantastic and by 31 January we had nearly 500,000 members.”
- “In year, it was decided the majority of the project will not be going ahead and an impairment charge has been recognised due to the recoverable amount being less than NBV.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHADWICK, Leigh George | Secretary | — | — | British |
| MICHELMORES SECRETARIES LIMITED | Corporate Secretary | 2018-09-12 | — | — |
| CHADWICK, David Alfred | Director | 2001-07-31 | Nov 1958 | British |
| CHADWICK, Leigh George | Director | 2001-07-31 | Jun 1957 | British |
| CHADWICK, Neil Michael | Director | 2001-07-31 | Jun 1966 | British |
| HAYES, Paul Leslie, Mr. | Director | 2018-01-16 | May 1971 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BURGESS, Frances Judith Louise | Director | 2010-02-01 | 2013-07-17 |
| CHADWICK, Donald George | Director | — | 2001-10-06 |
| CHADWICK, Mary Alice Brenda | Director | — | 2008-12-12 |
| GREEN, Adrian Neil | Director | 2010-02-01 | 2012-12-04 |
| SIMPSON, Michael John, Mr. | Director | 2013-03-01 | 2014-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Neil Michael Chadwick | Individual | Significant influence | 2016-04-06 | Ceased 2016-04-06 |
| Mr David Alfred Chadwick | Individual | Significant influence | 2016-04-06 | Ceased 2016-04-06 |
| Mr Leigh George Chadwick | Individual | Significant influence | 2016-04-06 | Ceased 2016-04-06 |
| Seasalt Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 188 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-12-20 MA Memorandum articles
- 2023-12-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-26 | AA | accounts | Accounts with accounts type full | |
| 2026-07-06 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-07-02 | CH01 | officers | Change person director company with change date | |
| 2026-07-02 | CH01 | officers | Change person director company with change date | |
| 2025-12-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-19 | AA | accounts | Accounts with accounts type full | |
| 2025-08-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-05 | AA | accounts | Accounts with accounts type full | |
| 2024-05-07 | AA | accounts | Accounts with accounts type full | |
| 2023-12-20 | MA | incorporation | Memorandum articles | |
| 2023-12-20 | RESOLUTIONS | resolution | Resolution | |
| 2023-12-18 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-12-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-12-01 | CH01 | officers | Change person director company with change date | |
| 2023-11-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-05-20 | AA | accounts | Accounts with accounts type full | |
| 2023-01-17 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-12-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-21 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.