Registered number
08695741
Shellfish Direct Ltd
Filleted Accounts
30 September 2024
Shellfish Direct Ltd
Registered number: 08695741
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 22,000 22,000
Tangible assets 4 22,260 26,853
44,260 48,853
Current assets
Debtors 5 983 2,351
Cash at bank and in hand 46,627 75,694
47,610 78,045
Creditors: amounts falling due within one year 6 (7,944) (63,542)
Net current assets 39,666 14,503
Net assets 83,926 63,356
Capital and reserves
Called up share capital 2 2
Profit and loss account 83,924 63,354
Shareholders' funds 83,926 63,356
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 members have 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.
J D Ballett
Director
Approved by the board on 13 November 2024
Shellfish Direct Ltd
Notes to the Accounts
for the year ended 30 September 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:
Plant and machinery 25% reducing balance
Boats and engines 15% reducing balance
Motor vehicles 20% reducing balance
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Licences:
Cost
At 1 October 2023 22,000
At 30 September 2024 22,000
Amortisation
At 30 September 2024 -
Net book value
At 30 September 2024 22,000
At 30 September 2023 22,000
4 Tangible fixed assets
Commercial vehicles Plant and machinery etc Boats and engines Total
£ £ £ £
Cost
At 1 October 2023 31,697 18,711 37,345 87,753
At 30 September 2024 31,697 18,711 37,345 87,753
Depreciation
At 1 October 2023 25,731 16,049 19,120 60,900
Charge for the year 1,193 666 2,734 4,593
At 30 September 2024 26,924 16,715 21,854 65,493
Net book value
At 30 September 2024 4,773 1,996 15,491 22,260
At 30 September 2023 5,966 2,662 18,225 26,853
5 Debtors 2024 2023
£ £
Other debtors 983 2,351
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 895 865
Director's currrent account 88 55,966
Taxation and social security costs 6,961 6,711
7,944 63,542
7 Other information
Shellfish Direct Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Lulworth Crescent
Poole
Dorset
BH15 4DL
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