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Company No: 05841387 (England and Wales)

OTHNIEL OYSTERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

OTHNIEL OYSTERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

OTHNIEL OYSTERS LIMITED

BALANCE SHEET

As at 31 March 2025
OTHNIEL OYSTERS LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 131,353 160,566
Investments 4 242,748 242,748
374,101 403,314
Current assets
Stocks 5 270 288
Debtors 6 56,595 41,789
Cash at bank and in hand 31,449 1,491
88,314 43,568
Creditors: amounts falling due within one year 7 ( 402,386) ( 299,983)
Net current liabilities (314,072) (256,415)
Total assets less current liabilities 60,029 146,899
Provision for liabilities ( 24,957) ( 30,507)
Net assets 35,072 116,392
Capital and reserves
Called-up share capital 4 4
Share premium account 775 775
Profit and loss account 34,293 115,613
Total shareholders' funds 35,072 116,392

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Othniel Oysters Limited (registered number: 05841387) were approved and authorised for issue by the Board of Directors on 23 July 2025. They were signed on its behalf by:

G M Wordsworth
Director
OTHNIEL OYSTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
OTHNIEL OYSTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Othniel Oysters Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 38 Bowden Road, Poole, Dorset, BH12 4PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 15 - 20 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3 years straight line
Other property, plant and equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Plant and machinery Vehicles Office equipment Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2024 332,677 20,918 3,363 348,203 705,161
Additions 9,748 0 0 0 9,748
At 31 March 2025 342,425 20,918 3,363 348,203 714,909
Accumulated depreciation
At 01 April 2024 270,127 13,225 309 260,934 544,595
Charge for the financial year 18,464 1,923 1,120 17,454 38,961
At 31 March 2025 288,591 15,148 1,429 278,388 583,556
Net book value
At 31 March 2025 53,834 5,770 1,934 69,815 131,353
At 31 March 2024 62,550 7,693 3,054 87,269 160,566

4. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 April 2024 242,748
At 31 March 2025 242,748
Carrying value at 31 March 2025 242,748
Carrying value at 31 March 2024 242,748

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.03.2025
Ownership
31.03.2024
Held
Othniel shellfish Limited 38 Bowden Road, Poole, Dorset, BH12 4PW Marine fishing Ordinary 100.00% 100.00% Direct
Poole Harbour Shell Fish Co Limited 38 Bowden Road, Poole, Dorset, BH12 4PW Marine fishing Ordinary 100.00% 100.00% Direct

5. Stocks

2025 2024
£ £
Stocks 270 288

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

2025 2024
£ £
Trade debtors 29,594 11,677
Corporation tax 0 4,812
Other debtors 27,001 25,300
56,595 41,789

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 3,182 2,455
Other taxation and social security 3,865 3,139
Other creditors 395,339 294,389
402,386 299,983

8. Financial commitments

Commitments

Capital commitments are as follows:

2025 2024
£ £
Contracted for but not provided for:
Finance leases entered into 1,581 7,906