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REGISTERED NUMBER: 08010725 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Fat Seagull Limited

The Fat Seagull Limited (Registered number: 08010725)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Fat Seagull Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M S Hallsworth
Mrs C T Hallsworth





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT





REGISTERED NUMBER: 08010725 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

The Fat Seagull Limited (Registered number: 08010725)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,656 15,285
12,656 15,285

CURRENT ASSETS
Stocks 6 870 800
Debtors 7 68,500 102,582
Cash in hand 1,000 1,000
70,370 104,382
CREDITORS
Amounts falling due within one year 8 19,640 18,321
NET CURRENT ASSETS 50,730 86,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,386

101,346

CREDITORS
Amounts falling due after more than one
year

9

(23,190

)

(27,716

)

PROVISIONS FOR LIABILITIES (2,134 ) (2,575 )
NET ASSETS 38,062 71,055

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10 38,060 71,053
SHAREHOLDERS' FUNDS 38,062 71,055

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

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

The Fat Seagull Limited (Registered number: 08010725)

Balance Sheet - continued
31 March 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 Income Statement 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 S Hallsworth - Director


The Fat Seagull Limited (Registered number: 08010725)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Fat Seagull 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 as modified by the revaluation of certain assets.

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 2012. Goodwill has been fully amortised.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 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.

Government grants
Government grants received as a contribution towards expenditure on a fixed asset are released over the life of the asset.

The Fat Seagull Limited (Registered number: 08010725)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 40,000
AMORTISATION
At 1 April 2023
and 31 March 2024 40,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 50,026 23,901 73,927
Additions 1,600 - 1,600
At 31 March 2024 51,626 23,901 75,527
DEPRECIATION
At 1 April 2023 38,573 20,069 58,642
Charge for year 3,270 959 4,229
At 31 March 2024 41,843 21,028 62,871
NET BOOK VALUE
At 31 March 2024 9,783 2,873 12,656
At 31 March 2023 11,453 3,832 15,285

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 870 800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 62,844 99,216
VAT 4,731 2,496
Prepayments and accrued income 925 870
68,500 102,582

The Fat Seagull Limited (Registered number: 08010725)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 13,752 11,546
Trade creditors 810 753
Corporation tax 629 2,516
Social security and other taxes 502 111
Wages control account 1,420 940
Directors' current accounts 11 6
Accruals and deferred income 2,439 2,346
Deferred government grants 77 103
19,640 18,321

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 4,445 4,445
Bank loans to be repaid
between 2 & 5 years by
instalments 18,513 22,962
Deferred government grants 232 309
23,190 27,716

10. RESERVES
Retained
earnings
£   

At 1 April 2023 71,053
Profit for the year 807
Dividends (33,800 )
At 31 March 2024 38,060