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REGISTERED NUMBER: 02441662 (England and Wales)














Unaudited Financial Statements

For The Year Ended 28th February 2018

for

Glass Eels Limited

Glass Eels Limited (Registered number: 02441662)






Contents of the Financial Statements
For The Year Ended 28th February 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

Glass Eels Limited

Company Information
For The Year Ended 28th February 2018







DIRECTOR: E J P Wood





SECRETARY: E J P Wood





REGISTERED OFFICE: 123 Hempsted Lane
Hempsted
Gloucester
Gloucestershire
GL2 5JY





REGISTERED NUMBER: 02441662 (England and Wales)





ACCOUNTANTS: Wildin & Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

Glass Eels Limited (Registered number: 02441662)

Balance Sheet
28th February 2018

28.2.18 28.2.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 579,798 495,368

CURRENT ASSETS
Stocks 126,801 137,027
Debtors 5 487,650 203,048
Cash at bank and in hand 1,378,994 1,451,233
1,993,445 1,791,308
CREDITORS
Amounts falling due within one year 6 1,408,706 1,273,399
NET CURRENT ASSETS 584,739 517,909
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,164,537

1,013,277

PROVISIONS FOR LIABILITIES 7 8,391 10,333
NET ASSETS 1,156,146 1,002,944

CAPITAL AND RESERVES
Called up share capital 8 750 750
Retained earnings 9 1,155,396 1,002,194
SHAREHOLDERS' FUNDS 1,156,146 1,002,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31st May 2018 and were signed by:



E J P Wood - Director


Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements
For The Year Ended 28th February 2018

1. STATUTORY INFORMATION

Glass Eels Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the sales to customers during the year.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 8 ) .

Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements - continued
For The Year Ended 28th February 2018

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st March 2017 456,583 211,832 888,835 95,095 1,652,345
Additions 102,033 3,581 - - 105,614
At 28th February 2018 558,616 215,413 888,835 95,095 1,757,959
DEPRECIATION
At 1st March 2017 18,263 182,138 868,301 88,275 1,156,977
Charge for year 9,132 6,240 4,107 1,705 21,184
At 28th February 2018 27,395 188,378 872,408 89,980 1,178,161
NET BOOK VALUE
At 28th February 2018 531,221 27,035 16,427 5,115 579,798
At 28th February 2017 438,320 29,694 20,534 6,820 495,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Trade debtors 428,927 76,403
Tax - 33,483
VAT 2,400 1,642
Prepayments & Other Debtors 56,323 91,520
487,650 203,048

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Trade creditors 26,651 18,089
Amounts owed to group undertakings 567,788 567,788
Tax 39,859 21,947
Directors' current accounts 494,025 494,025
Accrued expenses 280,383 171,550
1,408,706 1,273,399

7. PROVISIONS FOR LIABILITIES
28.2.18 28.2.17
£    £   
Deferred tax 8,391 10,333

Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements - continued
For The Year Ended 28th February 2018

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st March 2017 10,333
Credit to Income Statement during year (1,942 )
Balance at 28th February 2018 8,391

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.18 28.2.17
value: £    £   
750 Ordinary £1 750 750

9. RESERVES
Retained
earnings
£   

At 1st March 2017 1,002,194
Profit for the year 153,202
At 28th February 2018 1,155,396

10. RELATED PARTY DISCLOSURES

During the year the company conducted the following transactions with Bristol Channel Fisheries Ltd, a
company in which it own's 50% of the shares, and in which the director owns the balance of the shares.

These transactions were made on an arms length basis during the normal course of trading.

There was £567,788 (2017 £567,788) due by the company to Bristol Channel Fisheries Ltd at the year end.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is E J P Wood.

Glass Eels Limited

Report of the Accountants to the Director of
Glass Eels Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28th February 2018 set out on pages two to five and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wildin & Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


Date: 31st May 2018