IRIS Accounts Production v24.3.2.46 SC498124 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4981242023-07-31SC4981242024-07-31SC4981242023-08-012024-07-31SC4981242022-07-31SC4981242022-08-012023-07-31SC4981242023-07-31SC498124ns15:Scotland2023-08-012024-07-31SC498124ns14:PoundSterling2023-08-012024-07-31SC498124ns10:Director12023-08-012024-07-31SC498124ns10:Director22023-08-012024-07-31SC498124ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC498124ns10:SmallEntities2023-08-012024-07-31SC498124ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC498124ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC498124ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC498124ns10:FullAccounts2023-08-012024-07-31SC49812412023-08-012024-07-31SC498124ns10:RegisteredOffice2023-08-012024-07-31SC498124ns5:CurrentFinancialInstruments2024-07-31SC498124ns5:CurrentFinancialInstruments2023-07-31SC498124ns5:Non-currentFinancialInstruments2024-07-31SC498124ns5:Non-currentFinancialInstruments2023-07-31SC498124ns5:ShareCapital2024-07-31SC498124ns5:ShareCapital2023-07-31SC498124ns5:SharePremium2024-07-31SC498124ns5:SharePremium2023-07-31SC498124ns5:RetainedEarningsAccumulatedLosses2024-07-31SC498124ns5:RetainedEarningsAccumulatedLosses2023-07-31SC498124ns5:NetGoodwill2023-08-012024-07-31SC498124ns5:PlantMachinery2023-08-012024-07-31SC498124ns5:NetGoodwill2023-07-31SC498124ns5:IntangibleAssetsOtherThanGoodwill2023-07-31SC498124ns5:NetGoodwill2024-07-31SC498124ns5:IntangibleAssetsOtherThanGoodwill2024-07-31SC498124ns5:NetGoodwill2023-07-31SC498124ns5:IntangibleAssetsOtherThanGoodwill2023-07-31SC498124ns5:PlantMachinery2023-07-31SC498124ns5:PlantMachinery2024-07-31SC498124ns5:PlantMachinery2023-07-31SC498124ns5:CostValuation2023-07-31SC498124ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC498124ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC498124ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-07-31SC498124ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-07-31
REGISTERED NUMBER: SC498124 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Seafield Mussels Limited

Seafield Mussels Limited (Registered number: SC498124)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seafield Mussels Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: E N Smith
J M Laurenson





REGISTERED OFFICE: Blueshell Mussels Limited
Farm office
Sparl
Brae
Shetland
ZE2 9QJ





REGISTERED NUMBER: SC498124 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

Seafield Mussels Limited (Registered number: SC498124)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,928 4,928
Tangible assets 5 1,239 5,577
Investments 6 10,620 10,620
16,787 21,125

CURRENT ASSETS
Stocks 109,504 109,047
Debtors 7 55,439 34,739
Cash at bank 34,417 14,237
199,360 158,023
CREDITORS
Amounts falling due within one year 8 54,998 20,388
NET CURRENT ASSETS 144,362 137,635
TOTAL ASSETS LESS CURRENT LIABILITIES 161,149 158,760

CREDITORS
Amounts falling due after more than one year 9 32,039 30,500
NET ASSETS 129,110 128,260

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 163,900 163,900
Retained earnings (34,890 ) (35,740 )
SHAREHOLDERS' FUNDS 129,110 128,260

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

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

Seafield Mussels Limited (Registered number: SC498124)

Balance Sheet - continued
31 July 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 31 January 2025 and were signed on its behalf by:




E N Smith - Director



J M Laurenson - Director


Seafield Mussels Limited (Registered number: SC498124)

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

1. STATUTORY INFORMATION

Seafield Mussels Limited is a private company, limited by shares , registered in Scotland. 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 2015, is being amortised evenly over its estimated useful life of five years.

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 - 10% on cost and Straight line over 7 years

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.

Seafield Mussels Limited (Registered number: SC498124)

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 100,000 4,928 104,928
AMORTISATION
At 1 August 2023
and 31 July 2024 100,000 - 100,000
NET BOOK VALUE
At 31 July 2024 - 4,928 4,928
At 31 July 2023 - 4,928 4,928

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2023
and 31 July 2024 98,374
DEPRECIATION
At 1 August 2023 92,797
Charge for year 4,338
At 31 July 2024 97,135
NET BOOK VALUE
At 31 July 2024 1,239
At 31 July 2023 5,577

Seafield Mussels Limited (Registered number: SC498124)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 10,620
NET BOOK VALUE
At 31 July 2024 10,620
At 31 July 2023 10,620

7. DEBTORS
31.7.24 31.7.23
£    £   
Amounts falling due within one year:
Trade debtors 10,561 -
Other debtors 11,558 4,239
22,119 4,239

Amounts falling due after more than one year:
Other debtors 33,320 30,500

Aggregate amounts 55,439 34,739

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 44,583 7,394
Taxation and social security 979 3,588
Other creditors 9,436 9,406
54,998 20,388

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other creditors 32,039 30,500

Seafield Mussels Limited (Registered number: SC498124)

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

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby they have occurred under normal market conditions.