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REGISTERED NUMBER: 02573486 (England and Wales)


















Financial Statements for the Year Ended 31 March 2025

for

UPSTREAM SEAFOODS LIMITED

UPSTREAM SEAFOODS LIMITED (REGISTERED NUMBER: 02573486)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UPSTREAM SEAFOODS LIMITED

Company Information
for the Year Ended 31 March 2025







DIRECTOR: C T Smith





REGISTERED OFFICE: Unit 5-7 Silver Wing Industrial Estate
Horatius Way
Croydon
CR0 4RU





REGISTERED NUMBER: 02573486 (England and Wales)





ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD

UPSTREAM SEAFOODS LIMITED (REGISTERED NUMBER: 02573486)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 33,310 46,656

CURRENT ASSETS
Stocks 83,690 32,605
Debtors 5 636,130 730,644
Cash at bank and in hand 228,064 449,932
947,884 1,213,181
CREDITORS
Amounts falling due within one year 6 663,665 745,135
NET CURRENT ASSETS 284,219 468,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,529

514,702

CREDITORS
Amounts falling due after more than one
year

7

(5,344

)

(21,520

)

PROVISIONS FOR LIABILITIES (6,329 ) -
NET ASSETS 305,856 493,182

CAPITAL AND RESERVES
Called up share capital 19,500 19,500
Retained earnings 286,356 473,682
SHAREHOLDERS' FUNDS 305,856 493,182

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

UPSTREAM SEAFOODS LIMITED (REGISTERED NUMBER: 02573486)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2025 and were signed by:





C T Smith - Director


UPSTREAM SEAFOODS LIMITED (REGISTERED NUMBER: 02573486)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Upstream 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.

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.
Plant and machinery - 25% on reducing balance
Fixtures & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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 24 (2024 - 22 ) .

UPSTREAM SEAFOODS LIMITED (REGISTERED NUMBER: 02573486)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Short Plant and Fixtures Motor
leasehold machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 30,879 63,890 38,937 110,408 244,114
Additions - 473 1,892 - 2,365
Disposals - - - (57,058 ) (57,058 )
At 31 March 2025 30,879 64,363 40,829 53,350 189,421
DEPRECIATION
At 1 April 2024 30,879 57,053 36,289 73,237 197,458
Charge for year - 1,828 1,147 8,145 11,120
Eliminated on disposal - - - (52,467 ) (52,467 )
At 31 March 2025 30,879 58,881 37,436 28,915 156,111
NET BOOK VALUE
At 31 March 2025 - 5,482 3,393 24,435 33,310
At 31 March 2024 - 6,837 2,648 37,171 46,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 622,235 709,888
Other debtors 13,895 20,756
636,130 730,644

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 18,000 21,600
Trade creditors 605,996 661,762
Taxation and social security 25,518 39,574
Other creditors 14,151 22,199
663,665 745,135

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans 5,344 21,520