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REGISTERED NUMBER: 03714671 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Swansea Fresh Fish Supplies Limited

Swansea Fresh Fish Supplies Limited (Registered number: 03714671)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swansea Fresh Fish Supplies Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs D R Rees
P H Rees





SECRETARY: P H Rees





REGISTERED OFFICE: Unit 5 Fishermans Quay
Trawler Road
The Marina
Swansea
West Glamorgan
SA1 1UN





REGISTERED NUMBER: 03714671 (England and Wales)





ACCOUNTANTS: DGL Accountancy Services Limited
Chartered Certified Accountants
35 Hen Parc Avenue
Upper Killay
Swansea
SA2 7HA

Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 172,529 96,117
172,530 96,118

CURRENT ASSETS
Stocks 8,750 5,916
Debtors 6 222,436 237,990
Prepayments and accrued income 2,587 2,749
Cash at bank and in hand 192,768 347,436
426,541 594,091
CREDITORS
Amounts falling due within one year 7 304,229 321,677
NET CURRENT ASSETS 122,312 272,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

294,842

368,532

CREDITORS
Amounts falling due after more than
one year

8

(21,195

)

(36,643

)

PROVISIONS FOR LIABILITIES 10 (16,500 ) (18,300 )
NET ASSETS 257,147 313,589

Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Balance Sheet - continued
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 257,047 313,489
SHAREHOLDERS' FUNDS 257,147 313,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





Mrs D R Rees - Director


Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Swansea Fresh Fish Supplies 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Equipment - 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.


Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Based on the results shown in these financial statements together with their knowledge of the business and post year end trading, the Directors are confident that the going concern principle may be applied.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 5,000
AMORTISATION
At 1 July 2022
and 30 June 2023 4,999
NET BOOK VALUE
At 30 June 2023 1
At 30 June 2022 1

Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Land and Motor
buildings Equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2022 26,172 75,958 162,687 264,817
Additions - 12,937 104,582 117,519
Disposals - - (8,000 ) (8,000 )
At 30 June 2023 26,172 88,895 259,269 374,336
DEPRECIATION
At 1 July 2022 26,171 60,552 81,977 168,700
Charge for year - 3,725 34,780 38,505
Eliminated on disposal - - (5,398 ) (5,398 )
At 30 June 2023 26,171 64,277 111,359 201,807
NET BOOK VALUE
At 30 June 2023 1 24,618 147,910 172,529
At 30 June 2022 1 15,406 80,710 96,117

The net book value of tangible fixed assets held under hire purchase at 30 June 2023 was £12,355 (2022 : £16,474). The depreciation provided on these assets in the year was £4,119 (2022 : £5,492).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 167,551 205,324
Other debtors 54,885 32,666
222,436 237,990

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,048 9,762
Hire purchase contracts 5,399 5,399
Trade creditors 271,666 213,989
Taxation and social security 3,815 63,141
Other creditors 13,301 29,386
304,229 321,677

Swansea Fresh Fish Supplies Limited (Registered number: 03714671)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 1,350 6,749
Other creditors 19,845 29,894
21,195 36,643

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 6,749 12,148

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 16,500 18,300

Deferred
tax
£   
Balance at 1 July 2022 18,300
Credit to Income Statement during year (1,800 )
Balance at 30 June 2023 16,500

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £56,000 were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs D R Rees.