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REGISTERED NUMBER: SC429720 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Bell's Seafoods Ltd

Bell's Seafoods Ltd (Registered number: SC429720)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bell's Seafoods Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: D Bell
Mrs R R Bell



REGISTERED OFFICE: 24 Durness Street
Thurso
Caithness
KW14 8BQ



REGISTERED NUMBER: SC429720 (Scotland)



ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ



BANKERS: The Royal Bank of Scotland plc
Olrig Street
Thurso
Caithness
KW14 7BL

Bell's Seafoods Ltd (Registered number: SC429720)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 20,700 -
Tangible assets 5 471,836 433,861
492,536 433,861

CURRENT ASSETS
Stocks 173,295 156,000
Debtors 6 1,118,274 804,401
Cash at bank and in hand 452,271 317,756
1,743,840 1,278,157
CREDITORS
Amounts falling due within one year 7 (1,353,202 ) (992,274 )
NET CURRENT ASSETS 390,638 285,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

883,174

719,744

CREDITORS
Amounts falling due after more than one
year

8

(11,369

)

(21,594

)

PROVISIONS FOR LIABILITIES (52,097 ) (31,973 )
NET ASSETS 819,708 666,177

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 819,608 666,077
SHAREHOLDERS' FUNDS 819,708 666,177

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

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

Bell's Seafoods Ltd (Registered number: SC429720)

Balance Sheet - continued
31 August 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 27 May 2025 and were signed on its behalf by:





D Bell - Director


Bell's Seafoods Ltd (Registered number: SC429720)

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

1. STATUTORY INFORMATION

Bell's Seafoods Ltd 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% straight line
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Bell's Seafoods Ltd (Registered number: SC429720)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023 10,000
Additions 23,000
At 31 August 2024 33,000
AMORTISATION
At 1 September 2023 10,000
Charge for year 2,300
At 31 August 2024 12,300
NET BOOK VALUE
At 31 August 2024 20,700
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1 September 2023 - 176,195 298,073
Additions 10,000 4,000 23,511
Disposals - - (24,736 )
At 31 August 2024 10,000 180,195 296,848
DEPRECIATION
At 1 September 2023 - - 118,092
Charge for year - 18,022 41,945
Eliminated on disposal - - (15,153 )
At 31 August 2024 - 18,022 144,884
NET BOOK VALUE
At 31 August 2024 10,000 162,173 151,964
At 31 August 2023 - 176,195 179,981

Bell's Seafoods Ltd (Registered number: SC429720)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 199,229 4,148 677,645
Additions 136,330 482 174,323
Disposals - - (24,736 )
At 31 August 2024 335,559 4,630 827,232
DEPRECIATION
At 1 September 2023 122,583 3,109 243,784
Charge for year 66,168 630 126,765
Eliminated on disposal - - (15,153 )
At 31 August 2024 188,751 3,739 355,396
NET BOOK VALUE
At 31 August 2024 146,808 891 471,836
At 31 August 2023 76,646 1,039 433,861

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 938,020 699,012
Other debtors 180,254 105,389
1,118,274 804,401

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 9,973
Trade creditors 1,178,189 829,670
Other creditors 164,788 152,631
1,353,202 992,274

Other creditors includes the sum of £77,037 in respect of taxation (2023 - £43,826).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,369 21,594

Bell's Seafoods Ltd (Registered number: SC429720)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
D Bell and Mrs R R Bell
Balance outstanding at start of year 62,898 42,874
Amounts advanced 129,998 90,171
Amounts repaid (90,140 ) (70,147 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 102,756 62,898