Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30102023-12-01falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01661012 2023-12-01 2024-11-30 01661012 2022-12-01 2023-11-30 01661012 2024-11-30 01661012 2023-11-30 01661012 2022-12-01 01661012 c:Director1 2023-12-01 2024-11-30 01661012 d:MotorVehicles 2023-12-01 2024-11-30 01661012 d:MotorVehicles 2024-11-30 01661012 d:MotorVehicles 2023-11-30 01661012 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 01661012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 01661012 d:FurnitureFittings 2023-12-01 2024-11-30 01661012 d:FurnitureFittings 2024-11-30 01661012 d:FurnitureFittings 2023-11-30 01661012 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 01661012 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 01661012 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 01661012 d:LeasedAssetsHeldAsLessee 2023-12-01 2024-11-30 01661012 d:CurrentFinancialInstruments 2024-11-30 01661012 d:CurrentFinancialInstruments 2023-11-30 01661012 d:Non-currentFinancialInstruments 2024-11-30 01661012 d:Non-currentFinancialInstruments 2023-11-30 01661012 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 01661012 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 01661012 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 01661012 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 01661012 d:ShareCapital 2024-11-30 01661012 d:ShareCapital 2023-11-30 01661012 d:RetainedEarningsAccumulatedLosses 2024-11-30 01661012 d:RetainedEarningsAccumulatedLosses 2023-11-30 01661012 c:FRS102 2023-12-01 2024-11-30 01661012 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 01661012 c:FullAccounts 2023-12-01 2024-11-30 01661012 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 01661012 d:HirePurchaseContracts d:WithinOneYear 2024-11-30 01661012 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 01661012 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-11-30 01661012 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 01661012 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 01661012 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 01661012 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 01661012 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 01661012 d:RetirementBenefitObligationsDeferredTax 2024-11-30 01661012 d:RetirementBenefitObligationsDeferredTax 2023-11-30 01661012 2 2023-12-01 2024-11-30 01661012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-11-30 01661012 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-11-30 01661012 d:LeasedAssetsHeldAsLessee 2024-11-30 01661012 d:LeasedAssetsHeldAsLessee 2023-11-30 01661012 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 01661012










B & M SEAFOODS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
B & M SEAFOODS LIMITED
REGISTERED NUMBER: 01661012

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
79,006
166,218

  
79,006
166,218

Current assets
  

Stocks
  
53,448
77,126

Debtors: amounts falling due within one year
 5 
121,596
196,931

Cash at bank and in hand
  
32,844
84,388

  
207,888
358,445

Creditors: amounts falling due within one year
 6 
(254,272)
(322,137)

Net current (liabilities)/assets
  
 
 
(46,384)
 
 
36,308

Total assets less current liabilities
  
32,622
202,526

Creditors: amounts falling due after more than one year
 7 
(3,268)
(8,854)

  

Net assets
  
29,354
193,672


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
29,352
193,670

  
29,354
193,672


Page 1

 
B & M SEAFOODS LIMITED
REGISTERED NUMBER: 01661012
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 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: 




................................................
S J Appleby
Director

Date: 24 June 2025

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

Page 2

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

B & M Seafoods Limited is a private company limited by shares and incorporated in England and Wales, registration number 01661012. The registered office is Progress Way, Mid Suffolk Business Park, Langton Green, Eye, Suffolk, IP23 7HU.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Going concern

The Directors have considered the Company’s position at the time of signing the financial
statements, and in particular the effects on the Company of the wider economy. As part of their assessment, they have taken into consideration a number of possible trading performance,
profitability and cash flow scenarios.
Based on this and the on-going support of the Directors, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 3

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
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.

Page 4

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

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.

 
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.

Page 5

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value.
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.

Page 6

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 7

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 December 2023
170,878
416,266
587,144


Additions
-
4,965
4,965


Disposals
-
(87,349)
(87,349)



At 30 November 2024

170,878
333,882
504,760



Depreciation


At 1 December 2023
88,041
332,885
420,926


Charge for the year on owned assets
16,539
4,852
21,391


Charge for the year on financed assets
4,171
-
4,171


Disposals
-
(20,734)
(20,734)



At 30 November 2024

108,751
317,003
425,754



Net book value



At 30 November 2024
62,127
16,879
79,006



At 30 November 2023
82,837
83,381
166,218

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
12,511
16,682

12,511
16,682

Page 8

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
87,494
94,886

Amounts owed by associates
17,759
11,509

Other debtors
3,128
4,447

Prepayments and accrued income
13,215
68,002

Tax recoverable
-
2,956

Deferred taxation
-
15,131

121,596
196,931



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
91,224
154,353

Amounts owed to group undertakings
39,800
40,000

Amounts owed to associates
7,043
5,772

Other taxation and social security
1,536
4,846

Obligations under finance lease and hire purchase contracts
5,587
5,587

Other creditors
73,427
75,697

Accruals and deferred income
35,655
35,882

254,272
322,137



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
3,268
8,854

3,268
8,854


Secured Loans                                                                           
The amount of secured creditors shown under net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

Page 9

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,587
5,587

Between 1-5 years
3,268
8,854

8,855
14,441


9.


Deferred taxation




2024
2023


£

£






At beginning of year
15,131
(14,277)


Charged to profit or loss
(15,131)
29,408



At end of year
-
15,131

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(29,838)

Tax losses carried forward
-
44,867

Pension surplus
-
102

-
15,131


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £5,227 (2023: £5,097). Contributions totalling £388 (2023: £408) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
B & M SEAFOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Related party transactions

The company is a group undertaking of B & M Seafoods Holdings Limited.
No transactions have been disclosed in relation to B & M Seafoods Holdings Limited, in line with the exemption contained within the Financial Reporting Standard 8.
Included in debtors at the year end date is a balance of £17,759 (2023: £11,509) which is owed from Salpen Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders. 
Included in creditors at the year end date is a balance of £7,043 (2023: £5,772) which is owed to Langtons Limited, a company of which S J Appleby and S P Appleby are also directors and controlling shareholders. 
At the year end the directors were owed £72,165 (2023: £74,302) which is repayable on demand.
During the financial year, the company wrote off a director's loan amounting to £73,860. This write-off has been accounted for in accordance with FRS 102 Section 1A. The loan was initially recognised at transaction price and subsequently written off due to the company's inability to repay the loan. The director agreed to write off the loan to support the company's financial stability. The impact of this write-off on the financial statements is reflected in the profit and loss account.

 
Page 11