Registered number
06793970
Dartmouth Crab Company Limited
Report and Unaudited Accounts
31 March 2024
Dartmouth Crab Company Limited
Registered number: 06793970
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 730,133 722,144
Current assets
Debtors 4 762,103 464,105
Cash at bank and in hand 30,828 1,032,300
792,931 1,496,405
Creditors: amounts falling due within one year 5 (494,601) (621,089)
Net current assets 298,330 875,316
Total assets less current liabilities 1,028,463 1,597,460
Creditors: amounts falling due after more than one year 6 (102,170) (158,170)
Provisions for liabilities (60,473) (52,649)
Net assets 865,820 1,386,641
Capital and reserves
Called up share capital 2 2
Profit and loss account 865,818 1,386,639
Shareholder's funds 865,820 1,386,641
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J Mitchelmore
Director
Approved by the board on 19 November 2024
Dartmouth Crab Company Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, as applied to small entities by section 1A of the standard.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements 5 year straight line (where applicable)
Plant and machinery 20% reducing balance basis
Motor vehicles 20% reducing balance basis
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 22
3 Tangible fixed assets
Property Plant and machinery etc Motor Vehicles Total
£ £ £ £
Cost
At 1 April 2023 452,398 300,512 525,108 1,278,018
Additions - - 107,923 107,923
Disposals - - (126,088) (126,088)
At 31 March 2024 452,398 300,512 506,943 1,259,853
Depreciation
At 1 April 2023 7,354 223,649 324,871 555,874
Charge for the year - 15,370 55,898 71,268
On disposals - - (97,422) (97,422)
At 31 March 2024 7,354 239,019 283,347 529,720
Net book value
At 31 March 2024 445,044 61,493 223,596 730,133
At 31 March 2023 445,044 76,863 200,237 722,144
4 Debtors 2024 2023
£ £
Trade debtors 670,684 375,420
Other debtors 56,148 53,414
AB Seafoods Ltd intercompany account 35,271 35,271
762,103 464,105
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 60,000 60,000
Trade creditors 408,251 297,381
Corporation tax 137 36,113
Other taxes and social security costs 17,522 91,676
Other creditors 8,691 135,919
494,601 621,089
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 70,000 130,000
Director's loan account 32,170 28,170
102,170 158,170
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 130,000 190,000
The loan is secured by a fixed and floating charge over all the property or undertaking of the company.
8 Related party transactions 2024 2023
£ £
R J Michelmore
Director
Included in purchases are amounts payable to a business in which the director is a partner amounting to £5,034,570 (2023: £5,240,095), also an amount of £70,337 (2023: £146,320) payable to a company in which the director is also a director. Included in sales are amounts due to a company in which the director is also a director amounting to £409,580 (2023: £307,746). These transactions were undertaken under normal market conditions, on a commercial basis and at "arms length". During the year certain expenses were paid on behalf of a company in which the director is also a director. During the year the director provided a loan to the company, this loan is interest free and has no fixed repayment date.
Loan amount due from (to) the director (32,170) (28,170)
AB Seafoods Ltd
During the year there was a loan to AB Seafoods Ltd, this is a company in which the director is also a director.
Due from AB Seafoods Ltd 35,271 35,271
Mrs L Mitchelmore
Director
Included in purchases are amounts payable to a business in which the director is a partner amounting to £5,034,570 (2023: £5,240,095). These transactions were undertaken under normal market conditions, on a commercial basis and at "arms length".
9 Controlling party
In the opinion of the directors, the company is controlled by R J Mitchelmore who owns all the issued shares of the company.
10 Other information
Dartmouth Crab Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor Offices, New Fish Quay
The Quay
Brixham
Devon
TQ5 8AW
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