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REGISTERED NUMBER: 09918608 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MD GARNETT SHELLFISH LIMITED

MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MD GARNETT SHELLFISH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Garnett
Mrs S Garnett





REGISTERED OFFICE: 5 Hall Road
Clenchwarton
King's Lynn
Norfolk
PE34 4AJ





REGISTERED NUMBER: 09918608 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,152 16,173

CURRENT ASSETS
Debtors 5 37,383 30,529
Cash at bank 145,813 172,762
183,196 203,291
CREDITORS
Amounts falling due within one year 6 49,156 42,733
NET CURRENT ASSETS 134,040 160,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,192

176,731

CREDITORS
Amounts falling due after more than one year 7 (997 ) (396 )

PROVISIONS FOR LIABILITIES (3,100 ) (2,900 )
NET ASSETS 148,095 173,435

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 147,995 173,335
SHAREHOLDERS' FUNDS 148,095 173,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mrs S Garnett - Director


MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

MD Garnett Shellfish 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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

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

Government grants
Government grants have been recognised based on the accrual model. As such, government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss. The deferred element of the grant is included in creditors as deferred income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 28,864 25,999 54,863
Additions 6,618 - 6,618
At 31 December 2023 35,482 25,999 61,481
DEPRECIATION
At 1 January 2023 17,222 21,468 38,690
Charge for year 3,506 1,133 4,639
At 31 December 2023 20,728 22,601 43,329
NET BOOK VALUE
At 31 December 2023 14,754 3,398 18,152
At 31 December 2022 11,642 4,531 16,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 37,383 30,529

MD GARNETT SHELLFISH LIMITED (REGISTERED NUMBER: 09918608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 11,563 8,637
Other creditors 37,593 34,096
49,156 42,733

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 997 396

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
M Garnett and Mrs S Garnett
Balance outstanding at start of year - -
Amounts advanced - 20,961
Amounts repaid - (20,961 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -