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Company Registration No. NI624752 (Northern Ireland)
Seacliff Fishing Ltd Unaudited accounts for the year ended 31 January 2024
Seacliff Fishing Ltd Unaudited accounts Contents
Page
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Seacliff Fishing Ltd Company Information for the year ended 31 January 2024
Directors
Mr. R McKee Mr. N McKee
Company Number
NI624752 (Northern Ireland)
Registered Office
23 MEADOWLANDS AVENUE MANSE ROAD KILKEEL CO. DOWN BT34 4YA
Accountants
Henderson & Co Accountants 1A Greencastle Street Kilkeel Down BT344BH
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Seacliff Fishing Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,653 
17,017 
Tangible assets
(100,291)
(55,298)
Investments
893,194 
887,477 
795,556 
849,196 
Current assets
Cash at bank and in hand
211,985 
239,233 
Creditors: amounts falling due within one year
(684,105)
(624,329)
Net current liabilities
(472,120)
(385,096)
Total assets less current liabilities
323,436 
464,100 
Creditors: amounts falling due after more than one year
(28,209)
(106,559)
Net assets
295,227 
357,541 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
295,223 
357,537 
Shareholders' funds
295,227 
357,541 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by
Mr. N McKee Director Company Registration No. NI624752
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Seacliff Fishing Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Seacliff Fishing Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI624752. The registered office is 23 MEADOWLANDS AVENUE, MANSE ROAD, KILKEEL, CO. DOWN, BT34 4YA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Software - 10% Straight Line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0%
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Other tangible fixed assets
Fishing Vessel & Quota - 10% Straight Line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Seacliff Fishing Ltd Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 February 2023
138,787 
4,873 
143,660 
At 31 January 2024
138,787 
4,873 
143,660 
Amortisation
At 1 February 2023
124,910 
1,733 
126,643 
Charge for the year
13,877 
487 
14,364 
At 31 January 2024
138,787 
2,220 
141,007 
Net book value
At 31 January 2024
- 
2,653 
2,653 
At 31 January 2023
13,877 
3,140 
17,017 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2023
17,428 
49,217 
15,400 
14,712 
96,757 
Additions
- 
- 
30,000 
- 
30,000 
Disposals
- 
- 
(15,400)
- 
(15,400)
At 31 January 2024
17,428 
49,217 
30,000 
14,712 
111,357 
Depreciation
At 1 February 2023
- 
23,214 
10,744 
118,097 
152,055 
Charge for the year
- 
6,501 
7,500 
56,336 
70,337 
On disposals
- 
- 
(10,744)
- 
(10,744)
At 31 January 2024
- 
29,715 
7,500 
174,433 
211,648 
Net book value
At 31 January 2024
17,428 
19,502 
22,500 
(159,721)
(100,291)
At 31 January 2023
17,428 
26,003 
4,656 
(103,385)
(55,298)
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Seacliff Fishing Ltd Notes to the Accounts for the year ended 31 January 2024
6
Investments
Other investments 
£ 
Valuation at 1 February 2023
887,477 
Additions
5,717 
Valuation at 31 January 2024
893,194 
Fishing Vessel & Quota
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,748 
- 
VAT
2,002 
404 
Trade creditors
44,753 
39,684 
Taxes and social security
23,804 
9,192 
Other creditors
50,000 
50,000 
Loans from directors
522,703 
522,005 
Accruals
20,044 
3,044 
Deferred income
19,051 
- 
684,105 
624,329 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
28,209 
106,559 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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