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Registered Number: 10147719
England and Wales

 

 

 

R & S SEAFOODS LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Director Prince Arora
Registered Number 10147719
Registered Office 3 Second Avenue
Morpeth
Northumberland
NE61 2ET
Accountants Acumen Accounting
364 West Road
Newcastle Upon Tyne
Tyne & Wear
NE4 9JY
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 April 2024.
Principal activities
Principal activity of the company during the financial year end 30 April 2024 was of Takeaway shop.
Director
The director who served the company throughout the year was as follows:
Prince Arora
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Prince Arora
Director

Date approved: 27 January 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Acumen Accounting
30 April 2024



....................................................
Acumen Accounting
364 West Road
Newcastle Upon Tyne
Tyne & Wear
NE4 9JY
27 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 79,963    76,238 
Cost of sales (22,884)   (21,818)
Gross profit 57,079    54,420 
Selling and distribution costs (3,169)   (7,788)
Administrative expenses (53,736)   (45,156)
Operating profit 174    1,476 
Interest payable and similar charges (112)   (112)
Profit/(Loss) on ordinary activities before taxation 62    1,364 
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 62    1,364 
 
4
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 4 4,423    5,575 
Cash at bank and in hand 2,001    2,174 
6,424    7,749 
Creditors: amount falling due within one year 5 (2,785)  
Net current assets 3,639    7,749 
 
Total assets less current liabilities 3,639    7,749 
Creditors: amount falling due after more than one year 6 (19,069)   (23,241)
Net assets (15,430)   (15,492)
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account (15,530)   (15,592)
Shareholders' funds (15,430)   (15,492)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
Prince Arora
Director
5
General Information
R & S Seafoods Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10147719, registration address 3 Second Avenue, Morpeth, Northumberland, NE61 2ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Staff Costs

2024
£
  2023
£
Wages and salaries 24,795    20,667 
24,795    20,667 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 2    3 
 

3.

Average number of employees

Average number of employees during the year was 3 (2023 : 4).
4.

Stocks

2024
£
  2023
£
Stocks 4,423    5,575 
4,423    5,575 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Other Creditors 2,785   
2,785   

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 3,519    7,891 
Directors' Loan Accounts 15,550    15,350 
19,069    23,241 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

6
  2024
£
  2023
£
Turnover          
Sales   79,963      76,238 
  79,963      76,238 
Cost of sales          
Purchases 22,884      21,818 
  (22,884)     (21,818)
Gross profit   57,079      54,420 
Selling and distribution costs          
Commissions Payable 3,169      7,788 
  (3,169)     (7,788)
Administrative expenses          
Wages & Salaries 17,595      13,467 
Directors Salaries 7,200      7,200 
Accountancy Fees 1,614      1,560 
Legal and Professional Fees (Allowable) 35      35 
Rates & Water 1,625      1,195 
Rent 10,650      10,200 
Light, Heat & Power 13,045      9,734 
Cleaning of Premises 1,374      275 
General Travel Expenses     998 
Bank Charges 84      84 
General Insurance 514     
Telephone, Fax & Internet     408 
  (53,736)     (45,156)
Operating profit   174      1,476 
Interest payable and similar charges          
Bank & Other Loan Interest 112      112 
  (112)     (112)
Profit/(Loss) on ordinary activities before taxation   62      1,364 
Profit/(Loss) for the financial year   62      1,364 
 
7