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REGISTERED NUMBER: 09964840 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

GEM SEAFOODS INTERNATIONAL LTD

GEM SEAFOODS INTERNATIONAL LTD (REGISTERED NUMBER: 09964840)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEM SEAFOODS INTERNATIONAL LTD

COMPANY INFORMATION
for the year ended 31 January 2025







DIRECTORS: Mr P S Wilson
Mrs Y M Wilson
Mrs T M Hart





REGISTERED OFFICE: 17 St Peters Place
Fleetwood
Lancashire
FY7 6EB





REGISTERED NUMBER: 09964840 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

GEM SEAFOODS INTERNATIONAL LTD (REGISTERED NUMBER: 09964840)

BALANCE SHEET
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 11 5,827

CURRENT ASSETS
Stocks 5 1,488,259 1,809,373
Debtors 6 930,486 862,483
Cash at bank 38,206 140,705
2,456,951 2,812,561
CREDITORS
Amounts falling due within one year 7 (1,583,795 ) (1,913,982 )
NET CURRENT ASSETS 873,156 898,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

873,167

904,406

CREDITORS
Amounts falling due after more than one
year

8

(20,834

)

(70,834

)

PROVISIONS FOR LIABILITIES (3 ) (1,400 )
NET ASSETS 852,330 832,172

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 852,210 832,052
SHAREHOLDERS' FUNDS 852,330 832,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

GEM SEAFOODS INTERNATIONAL LTD (REGISTERED NUMBER: 09964840)

BALANCE SHEET - continued
31 January 2025


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 23 May 2025 and were signed on its behalf by:





Mr P S Wilson - Director


GEM SEAFOODS INTERNATIONAL LTD (REGISTERED NUMBER: 09964840)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2025

1. STATUTORY INFORMATION

Gem Seafoods International Ltd 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

GEM SEAFOODS INTERNATIONAL LTD (REGISTERED NUMBER: 09964840)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2025

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2024
and 31 January 2025 27,109 4,595 31,704
DEPRECIATION
At 1 February 2024 21,687 4,190 25,877
Charge for year 5,422 394 5,816
At 31 January 2025 27,109 4,584 31,693
NET BOOK VALUE
At 31 January 2025 - 11 11
At 31 January 2024 5,422 405 5,827

5. STOCKS
2025 2024
£    £   
Stocks 1,488,259 1,809,373

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 871,009 822,811
VAT 49,809 25,646
Prepayments 9,668 14,026
930,486 862,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 142,445 227,885
Tax 7,586 28,725
Other creditors 1,366,772 1,582,331
Accruals and deferred income 16,992 25,041
1,583,795 1,913,982

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans - 1-2 years 20,834 50,000
Bank loans - 2-5 years - 20,834
20,834 70,834