Solent Seafood Limited |
Registered number: 10976764 |
Balance Sheet |
as at 31 December 2024 |
|
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
17,805 |
|
|
24,086 |
|
Current assets |
Stocks |
|
|
9,773 |
|
|
17,859 |
Debtors |
4 |
|
31,416 |
|
|
87,064 |
Cash at bank and in hand |
|
|
3,919 |
|
|
2,237 |
|
|
|
45,108 |
|
|
107,160 |
|
Creditors: amounts falling due within one year |
5 |
|
(63,147) |
|
|
(119,061) |
|
Net current liabilities |
|
|
|
(18,039) |
|
|
(11,901) |
|
Net (liabilities)/assets |
|
|
|
(234) |
|
|
12,185 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
10 |
|
|
10 |
Profit and loss account |
|
|
|
(104,374) |
|
|
(78,505) |
Shareholders' loan |
|
|
|
104,130 |
|
|
90,680 |
|
Shareholder's funds - Deficit |
|
|
|
(234) |
|
|
12,185 |
|
|
|
|
|
|
|
|
The director is 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 director acknowledges his 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. |
|
|
|
|
Mr. P. C. Tarrant |
Director |
Approved by the board on 11 March 2025 |
|
Solent Seafood Limited |
Notes to the Accounts |
for the year ended 31 December 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 receivable. Turnover includes revenue earned from the wholesale and retail distribution of seafood. |
|
|
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings and equipment |
25% reducing balance |
|
Plant and machinery |
20% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), 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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Going concern |
|
The accounts have been prepared under the going concern basis as the shareholder has confirmed that he will not seek repayment of his loan within the next twelve months. will not seek repayment of his loan within the next twelve months. |
|
|
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 |
2 |
|
4 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
Fixtures, fittings and equipment |
|
Plant and machinery |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2024 |
11,949 |
|
22,017 |
|
16,799 |
|
50,765 |
|
Additions |
- |
|
216 |
|
- |
|
216 |
|
Disposals |
- |
|
- |
|
(2,599) |
|
(2,599) |
|
At 31 December 2024 |
11,949 |
|
22,233 |
|
14,200 |
|
48,382 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
6,923 |
|
10,562 |
|
9,194 |
|
26,679 |
|
Charge for the year |
1,256 |
|
2,334 |
|
1,567 |
|
5,157 |
|
On disposals |
- |
|
- |
|
(1,259) |
|
(1,259) |
|
At 31 December 2024 |
8,179 |
|
12,896 |
|
9,502 |
|
30,577 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
3,770 |
|
9,337 |
|
4,698 |
|
17,805 |
|
At 31 December 2023 |
5,026 |
|
11,455 |
|
7,605 |
|
24,086 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
24,509 |
|
81,129 |
|
Other debtors |
6,907 |
|
5,935 |
|
|
|
|
|
|
31,416 |
|
87,064 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
18,281 |
|
6,892 |
|
Trade creditors |
37,777 |
|
107,609 |
|
Taxation and social security costs |
- |
|
651 |
|
Other creditors |
7,089 |
|
3,909 |
|
|
|
|
|
|
63,147 |
|
119,061 |
|
|
|
|
|
|
|
|
|
|
6 |
Other information |
|
|
Solent Seafood Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 5 |
|
Marshlands Road |
|
Farlington |
|
Portsmouth |
|
PO6 1ST |