REGISTERED NUMBER: 09918608 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MD GARNETT SHELLFISH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Garnett

Mrs S Garnett

REGISTERED OFFICE:

5 Hall Road

Clenchwarton

King's Lynn

Norfolk

PE34 4AJ

REGISTERED NUMBER:

09918608 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Tangible assets

4

13,884

18,152

CURRENT ASSETS

Debtors

5

2,907

37,383

Cash at bank

200,585

145,813

203,492

183,196

CREDITORS

Amounts falling due within one year

6

55,820

49,156

NET CURRENT ASSETS

147,672

134,040

TOTAL ASSETS LESS CURRENT LIABILITIES

161,556

152,192

CREDITORS

Amounts falling due after more than one year

7

(525

)

(997

)

PROVISIONS FOR LIABILITIES

(2,650

)

(3,100

)

NET ASSETS

158,381

148,095

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

158,281

147,995

SHAREHOLDERS' FUNDS

158,381

148,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mrs S Garnett - Director

1.	STATUTORY INFORMATION

MD Garnett Shellfish 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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 and 20% on cost

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

35,482

25,999

61,481

Additions

2,312

-

2,312

Disposals

(4,516

)

-

(4,516

)

At 31 December 2024

33,278

25,999

59,277

DEPRECIATION

At 1 January 2024

20,728

22,601

43,329

Charge for year

4,170

850

5,020

Eliminated on disposal

(2,956

)

-

(2,956

)

At 31 December 2024

21,942

23,451

45,393

NET BOOK VALUE

At 31 December 2024

11,336

2,548

13,884

At 31 December 2023

14,754

3,398

18,152

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

162

-

Other debtors

2,745

37,383

2,907

37,383

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

25,046

11,563

Other creditors

30,774

37,593

55,820

49,156

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

525

997

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

M Garnett and Mrs S Garnett

Balance outstanding at start of year

-

-

Amounts advanced

217

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

217

-