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REGISTERED NUMBER: 05853673 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

MCB SEAFOODS LIMITED

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCB SEAFOODS LIMITED

Company Information
for the year ended 31 December 2024







DIRECTORS: J L Bish
C L Bish





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 05853673 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Balance Sheet
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 4,000 4,000
Tangible assets 5 533,617 464,938
537,617 468,938

CURRENT ASSETS
Stocks 161,261 176,074
Debtors 6 1,154,005 1,091,878
Cash at bank and in hand 493,859 277,697
1,809,125 1,545,649
CREDITORS
Amounts falling due within one year 7 (1,356,270 ) (1,123,659 )
NET CURRENT ASSETS 452,855 421,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

990,472

890,928

CREDITORS
Amounts falling due after more than one
year

8

(67,562

)

(49,680

)

PROVISIONS FOR LIABILITIES 11 (110,168 ) (96,386 )
NET ASSETS 812,742 744,862

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 812,740 744,860
SHAREHOLDERS' FUNDS 812,742 744,862

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

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

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Balance Sheet - continued
31 December 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 14 April 2025 and were signed on its behalf by:





C L Bish - Director


MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

MCB Seafoods 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of goods is recognised at the point of sale when it can be determined that the risks and rewards of ownership of the goods have passed to the customer, and the related revenue can be reliably estimated.

Intangible assets
Intangible fixed assets relate to lifetime corporate football club seats that have been capitalised. No amortisation has been provided.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property-Straight line over 10 years
Equipment-10% reducing balance
Office equipment-20% reducing balance
Motor vehicles-20% reducing balance

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stock, consisting of produce and packaging, is valued at the lower of cost and estimated selling price less costs.

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate. Once the contributions have been paid, the company has no further obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Government assistance
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme the government is paying the first year of interest on the loan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 24 ) .

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Debenture
seats
£
COST
At 1 January 2024
and 31 December 2024 4,000
NET BOOK VALUE
At 31 December 2024 4,000
At 31 December 2023 4,000

5. TANGIBLE FIXED ASSETS
Improvements Motor Office
to property Equipment vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2024 46,916 388,884 190,033 96,653 722,486
Additions 16,500 35,056 132,012 - 183,568
Disposals - - (23,364 ) - (23,364 )
At 31 December 2024 63,416 423,940 298,681 96,653 882,690
DEPRECIATION
At 1 January 2024 22,179 120,414 72,316 42,639 257,548
Charge for year 12,683 30,353 47,170 10,802 101,008
Eliminated on disposal - - (9,483 ) - (9,483 )
At 31 December 2024 34,862 150,767 110,003 53,441 349,073
NET BOOK VALUE
At 31 December 2024 28,554 273,173 188,678 43,212 533,617
At 31 December 2023 24,737 268,470 117,717 54,014 464,938

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Office
vehicles equipment Totals
£ £ £
COST
At 1 January 2024 39,490 12,000 51,490
Transfer to ownership (39,490 ) - (39,490 )
At 31 December 2024 - 12,000 12,000
DEPRECIATION
At 1 January 2024 23,315 8,068 31,383
Charge for year 3,235 786 4,021
Transfer to ownership (26,550 ) - (26,550 )
At 31 December 2024 - 8,854 8,854
NET BOOK VALUE
At 31 December 2024 - 3,146 3,146
At 31 December 2023 16,175 3,932 20,107

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 940,730 904,251
Other debtors 213,275 187,627
1,154,005 1,091,878

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 31,310 31,328
Hire purchase contracts (see note 9) - 3,634
Trade creditors 823,144 610,664
Taxation and social security 65,066 136,587
Other creditors 436,750 341,446
1,356,270 1,123,659

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 2,915 9,915
Other creditors 64,647 39,765
67,562 49,680

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year - 3,634

Non-cancellable
operating leases
2024 2023
£ £
Within one year 59,400 58,050
Between one and five years 14,850 74,250
74,250 132,300

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Factoring account 402,854 307,995
Bank Loans & Overdraft 34,611 41,243
437,465 349,238

The company's bankers and factoring company have a fixed and floating charge over the company's assets.

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 110,168 96,386

Deferred tax
£
Balance at 1 January 2024 96,386
Accelerated capital allowances 13,782
Balance at 31 December 2024 110,168

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2

MCB SEAFOODS LIMITED (REGISTERED NUMBER: 05853673)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£ £
C L Bish
Balance outstanding at start of year 50,527 -
Amounts advanced 11,243 50,527
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,770 50,527

Interest of £1,243 (2023: £527) was charged at a rate of 2.25%. The loan is repayable on demand.

Key management personnel

During the year the company paid expenses on behalf of M Bish totalling £222 and loaned M Bish £1,000. At the year end, M Bish owed the company £13,565 (2023: £12,045). Interest of £298 (2023: £92) was charged at a rate of 2.25%. The loan is repayable on demand.