Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-20The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01Cultivation, processing and sale of shellfish.14false12falsetruefalse 04657058 2024-01-01 2024-12-31 04657058 2023-01-01 2023-12-31 04657058 2024-12-31 04657058 2023-12-31 04657058 2023-01-01 04657058 1 2024-01-01 2024-12-31 04657058 d:Director1 2024-01-01 2024-12-31 04657058 c:Buildings 2024-01-01 2024-12-31 04657058 c:Buildings 2024-12-31 04657058 c:Buildings 2023-12-31 04657058 c:Buildings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:PlantMachinery 2024-01-01 2024-12-31 04657058 c:PlantMachinery 2024-12-31 04657058 c:PlantMachinery 2023-12-31 04657058 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:FurnitureFittings 2024-01-01 2024-12-31 04657058 c:FurnitureFittings 2024-12-31 04657058 c:FurnitureFittings 2023-12-31 04657058 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:OfficeEquipment 2024-01-01 2024-12-31 04657058 c:OfficeEquipment 2024-12-31 04657058 c:OfficeEquipment 2023-12-31 04657058 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:ComputerEquipment 2024-01-01 2024-12-31 04657058 c:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 04657058 c:OtherPropertyPlantEquipment 2024-12-31 04657058 c:OtherPropertyPlantEquipment 2023-12-31 04657058 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04657058 c:CurrentFinancialInstruments 2024-12-31 04657058 c:CurrentFinancialInstruments 2023-12-31 04657058 c:Non-currentFinancialInstruments 2024-12-31 04657058 c:Non-currentFinancialInstruments 2023-12-31 04657058 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 04657058 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 04657058 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 04657058 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 04657058 c:ShareCapital 2024-12-31 04657058 c:ShareCapital 2023-12-31 04657058 c:RetainedEarningsAccumulatedLosses 2024-12-31 04657058 c:RetainedEarningsAccumulatedLosses 2023-12-31 04657058 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 04657058 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04657058 c:TaxLossesCarry-forwardsDeferredTax 2024-12-31 04657058 c:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04657058 d:FRS102 2024-01-01 2024-12-31 04657058 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04657058 d:FullAccounts 2024-01-01 2024-12-31 04657058 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04657058 2 2024-01-01 2024-12-31 04657058 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 04657058










MALDON OYSTER COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
MALDON OYSTER COMPANY LIMITED
REGISTERED NUMBER: 04657058

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,197,126
1,296,493

  
1,197,126
1,296,493

Current assets
  

Stocks
  
264,630
277,723

Debtors: amounts falling due within one year
 5 
609,889
325,228

Cash at bank and in hand
  
241,421
248,994

  
1,115,940
851,945

Creditors: amounts falling due within one year
 6 
(388,934)
(351,785)

Net current assets
  
 
 
727,006
 
 
500,160

Total assets less current liabilities
  
1,924,132
1,796,653

Creditors: amounts falling due after more than one year
 7 
(268,028)
(235,610)

Provisions for liabilities
  

Deferred tax
 8 
(99,366)
(121,514)

  
 
 
(99,366)
 
 
(121,514)

Net assets
  
1,556,738
1,439,529


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,556,736
1,439,527

  
1,556,738
1,439,529


Page 1

 
MALDON OYSTER COMPANY LIMITED
REGISTERED NUMBER: 04657058
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs C L Emans
Director

Date: 20 May 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Maldon Oyster Company Ltd is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Birchwood Farm, Cock Clarks, Chelmsford, Essex, CM3 6RF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts 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.

Page 4

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold Property
-
10%
on cost
Plant and machinery
-
20%
on cost
Fixtures and fittings
-
20%
on cost
Office equipment
-
20%
on cost
Motor Vehicles
-
20%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 6

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial 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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 12).


4.


Tangible fixed assets





Leasehold Property
Plant and machinery
Fixtures and fittings
Office equipment

£
£
£
£



Cost or valuation


At 1 January 2024
1,220,448
222,159
2,820
9,410


Additions
-
30,050
6,549
2,499


Disposals
-
(6,000)
-
-



At 31 December 2024

1,220,448
246,209
9,369
11,909



Depreciation


At 1 January 2024
150,947
146,456
560
3,840


Charge for the year on owned assets
122,045
21,852
1,014
1,906


Disposals
-
(2,800)
-
-



At 31 December 2024

272,992
165,508
1,574
5,746



Net book value



At 31 December 2024
947,456
80,701
7,795
6,163



At 31 December 2023
1,069,501
75,703
2,260
5,570
Page 8

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           4.Tangible fixed assets (continued)


Motor Vehicles
Total

£
£



Cost or valuation


At 1 January 2024
238,663
1,693,500


Additions
42,350
81,448


Disposals
-
(6,000)



At 31 December 2024

281,013
1,768,948



Depreciation


At 1 January 2024
95,204
397,007


Charge for the year on owned assets
30,798
177,615


Disposals
-
(2,800)



At 31 December 2024

126,002
571,822



Net book value



At 31 December 2024
155,011
1,197,126



At 31 December 2023
143,459
1,296,493


5.


Debtors

2024
2023
£
£


Trade debtors
197,994
176,079

Amounts owed by joint ventures and associated undertakings
370,000
104,163

Other debtors
24,820
28,564

Prepayments and accrued income
17,075
16,422

609,889
325,228


Page 9

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
193,571
160,503

Corporation tax
84,195
59,213

Other taxation and social security
22,916
16,361

Other creditors
88,252
115,708

388,934
351,785



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
268,028
235,610

268,028
235,610


Included within other creditors are grants - £268,028 (2023: £235,610) due after one year and £38,720 (2023: £38,720) due within one year being released over the lfe of the assets to which they relate.


8.


Deferred taxation




2024
2023


£

£






At beginning of year
121,514
99,943


Charged to profit or loss
(22,148)
21,571



At end of year
99,366
121,514

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
99,649
121,663

Short term timing differences
283
149

99,366
121,514

Page 10

 
MALDON OYSTER COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Directors' transactions

During the year, the directors withdrew £73,642 (2023: £46,601) from and introduced £73,013 (2023: £46,440) to the company. At the year end there was a balance of £24,565 (2023: £25,194) due to the directors.







10.


Post balance sheet events

On 21 March 2025 a dividend of £38,240 was declared.

 
Page 11