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REGISTERED NUMBER: 04269695 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

EXCEL SHELLFISH LIMITED

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXCEL SHELLFISH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr M A Moore
Miss K Moore



SECRETARY: Mr M A Moore



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 04269695 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC Bank Plc
Teignmouth Branch
13 Wellington Street
Teignmouth
Devon
TQ14 8HL

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 43
Tangible assets 5 29,234 35,959
29,234 36,002

CURRENT ASSETS
Stocks 8,462 10,596
Debtors 6 72,359 78,938
Cash at bank 107,330 20,969
188,151 110,503
CREDITORS
Amounts falling due within one year 7 101,118 78,535
NET CURRENT ASSETS 87,033 31,968
TOTAL ASSETS LESS CURRENT LIABILITIES 116,267 67,970

CREDITORS
Amounts falling due after more than one
year

8

(13,956

)

(23,393

)

PROVISIONS FOR LIABILITIES (7,092 ) (7,329 )
NET ASSETS 95,219 37,248

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 95,119 37,148
SHAREHOLDERS' FUNDS 95,219 37,248

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

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

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

BALANCE SHEET - continued
31 AUGUST 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 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 19 December 2024 and were signed on its behalf by:




Mr M A Moore - Director



Miss K Moore - Director


EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Excel 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.

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 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 2001, is being amortised evenly over its estimated useful life of twenty years.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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 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.

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.

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 2,000
AMORTISATION
At 1 September 2023 1,957
Amortisation for year 43
At 31 August 2024 2,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 43

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 71,585 7,498 24,454 840 104,377
Additions - - - 467 467
Disposals - - - (625 ) (625 )
At 31 August 2024 71,585 7,498 24,454 682 104,219
DEPRECIATION
At 1 September 2023 37,962 5,162 24,454 840 68,418
Charge for year 6,725 350 - 117 7,192
Eliminated on disposal - - - (625 ) (625 )
At 31 August 2024 44,687 5,512 24,454 332 74,985
NET BOOK VALUE
At 31 August 2024 26,898 1,986 - 350 29,234
At 31 August 2023 33,623 2,336 - - 35,959

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,172 69,840
Other debtors 1,500 3,191
Directors' current accounts 1,606 -
VAT 4,692 5,488
Prepayments 389 419
72,359 78,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,170 10,649
Trade creditors 25,326 27,647
Tax 40,078 11,230
Social security and other taxes 724 1,999
Other creditors 62 -
Directors' current accounts 19,695 23,512
Accrued expenses 5,063 3,498
101,118 78,535

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 13,956 23,393

9. OTHER FINANCIAL COMMITMENTS

At 31/8/24, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £7,006 [2023; £7,006].

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr M A Moore
Balance outstanding at start of year (23,061 ) (28,878 )
Amounts advanced 71,319 40,346
Amounts repaid (67,953 ) (34,529 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,695 ) (23,061 )

EXCEL SHELLFISH LIMITED (REGISTERED NUMBER: 04269695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Miss K Moore
Balance outstanding at start of year (451 ) -
Amounts advanced 18,203 13,978
Amounts repaid (16,146 ) (14,429 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,606 (451 )

Loans are unsecured and repayable on demand. Interest is charged at 10% in the year on credit loan balances.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,758 (2023 - £29,077) were paid to the directors .

12. GOVERNMENT GUARANTEED LOAN

The bank loan of £24,126 is a COVID-19 Bounce Back Loan guaranteed by the government. Term runs to December 2026.