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REGISTERED NUMBER: 14981466 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 5 JULY 2023 TO 31 JULY 2024

FOR

MN Seafood Partners Ltd

MN Seafood Partners Ltd (Registered number: 14981466)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 5 July 2023 to 31 July 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


MN Seafood Partners Ltd

COMPANY INFORMATION
for the period 5 July 2023 to 31 July 2024







Directors: M Newman
Mrs F Newman





Registered office: 129 North Hill
Plymouth
PL4 8JY





Business address: 3 Leo Avenue
Sherford
Plymouth
Devon
PL9 8GJ





Registered number: 14981466 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

MN Seafood Partners Ltd (Registered number: 14981466)

BALANCE SHEET
31 July 2024

Notes £    £   
Fixed assets
Tangible assets 4 2,960

Current assets
Debtors 5 54,963
Cash at bank and in hand 55,661
110,624
Creditors
Amounts falling due within one year 6 67,959
Net current assets 42,665
Total assets less current liabilities 45,625

Capital and reserves
Called up share capital 7 2
Retained earnings 45,623
Shareholders' funds 45,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2024 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.

MN Seafood Partners Ltd (Registered number: 14981466)

BALANCE SHEET - continued
31 July 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





M Newman - Director


MN Seafood Partners Ltd (Registered number: 14981466)

NOTES TO THE FINANCIAL STATEMENTS
for the period 5 July 2023 to 31 July 2024

1. STATUTORY INFORMATION

MN Seafood Partners Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office and business 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 receivable, net of discounts and value added taxes. Turnover includes revenue earned from the wholesale of seafood..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment 15% reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 period 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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

MN Seafood Partners Ltd (Registered number: 14981466)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 5 July 2023 to 31 July 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Equipment
£   
Cost
Additions 3,481
At 31 July 2024 3,481
Depreciation
Charge for period 521
At 31 July 2024 521
Net book value
At 31 July 2024 2,960

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 35,224
Other debtors 19,739
54,963

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 66,659
Other creditors 1,300
67,959

MN Seafood Partners Ltd (Registered number: 14981466)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 5 July 2023 to 31 July 2024

7. CALLED UP SHARE CAPITAL

During the period, 2 shares of £1 each were issued to form the initial share capital of the company, all shares rank pari passu.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £19,739 by it's directors, Mr and Mrs Newman, this was repaid in full within 9 months of the year end.

The balance is made up of debits totalling £173,656, credits of £153,917 the maximum overdrawn in the year was £19,739.

9. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors.