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REGISTERED NUMBER: 06810314 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024

FOR

SEAFOOD CORNWALL TRAINING LIMITED

SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEAFOOD CORNWALL TRAINING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024







DIRECTORS: S J Cadman
D E Stevens
K L Downing
C W Ranford
T Lambourn





REGISTERED OFFICE: Admiralty Boat House
The Strand
Newlyn
PENZANCE
Cornwall
TR18 5HL





REGISTERED NUMBER: 06810314 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)

BALANCE SHEET
17 DECEMBER 2024

2024 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,088 9,569

CURRENT ASSETS
Debtors 5 59,486 23,951
Cash at bank and in hand 169,489 190,699
228,975 214,650
CREDITORS
Amounts falling due within one year 6 96,992 71,674
NET CURRENT ASSETS 131,983 142,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,071

152,545

PROVISIONS FOR LIABILITIES 592 592
NET ASSETS 140,479 151,953

RESERVES
Income and expenditure account 140,479 151,953
140,479 151,953

SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)

BALANCE SHEET - continued
17 DECEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 17 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 17 December 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 surplus or deficit 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.

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 28 April 2025 and were signed on its behalf by:




S J Cadman - Director T Lambourn - Director




D E Stevens - Director K L Downing - Director




C W Ranford - Director


SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024

1. STATUTORY INFORMATION

Seafood Cornwall Training Limited is a private company, limited by guarantee , 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
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

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 etc - 33% on cost and 15% on reducing balance

Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit 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.

Grants
Grant income is recognised on an accruals basis when it is probable that an economic benefit will flow to the entity. Grant income is deferred to future accounting periods and is released to the income statement when the related expenditure is incurred, where grant-funded projects span the year end date.

SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 48,915
Additions 1,858
At 17 December 2024 50,773
DEPRECIATION
At 1 April 2024 39,346
Charge for period 2,339
At 17 December 2024 41,685
NET BOOK VALUE
At 17 December 2024 9,088
At 31 March 2024 9,569

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 48,628 15,485
Amounts recoverable on contracts 7,165 1,866
Other debtors 3,693 6,600
59,486 23,951

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade creditors 5,154 3,234
Taxation and social security - 1,746
Other creditors 91,838 66,694
96,992 71,674

7. MEMBERS

The company is limited by guarantee. Each member promises to pay £10 if the company is dissolved.

Members at 1st April 2024 5

Changes in membership 0

Total members at 17th December 2024 5

SEAFOOD CORNWALL TRAINING LIMITED (REGISTERED NUMBER: 06810314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 17 DECEMBER 2024

8. POST BALANCE SHEET EVENTS

On 18 December 2024, the company successfully completed its transition to a charitable organisation, registered with the Charity Commission under the registration number 1211457. This change in status reflects the company's commitment to its charitable objectives and will have significant implications for its operations and financial reporting going forward.

The transition to a charity will result in the following key changes:

1. Governance Structure: The company's governance structure has been revised to comply with
charity regulations, including the appointment of trustees and the establishment of a charitable trust deed.

2. Taxation: As a registered charity, the company will benefit from various tax exemptions and reliefs, including relief from corporation tax on its primary purpose trading activities and eligibility to claim Gift Aid on donations.

3. Financial Reporting: The financial statements will now be prepared in accordance with the Statement of Recommended Practice (SORP) applicable to charities, which includes specific requirements for the presentation of income, expenditure, and reserves.

The directors believe that this change will enhance the company's ability to achieve its mission and deliver greater public benefit.