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Company No: 12267568 (England and Wales)

# THE SEAFOOD BAR SOHO LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

THE SEAFOOD BAR SOHO LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

THE SEAFOOD BAR SOHO LIMITED

## BALANCE SHEET

As at 31 December 2024
THE SEAFOOD BAR SOHO LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 31.12.2024 |  | 31.12.2023
|  | £ |  | £
Current assets |  |  |  |
Stocks |  | 20,984 |  | 17,301
Debtors | 3 | 1,733,932 |  | 1,488,703
Cash at bank and in hand |  | 100,202 |  | 137,323
|  | 1,855,118 |  | 1,643,327
Creditors: amounts falling due within one year | 4 | ( 265,248) |  | ( 244,850)
Net current assets |  | 1,589,870 |  | 1,398,477
Total assets less current liabilities |  | 1,589,870 |  | 1,398,477
Creditors: amounts falling due after more than one year | 5 | ( 2,146,977) |  | ( 2,149,710)
Net liabilities |  | ( 557,107) |  | ( 751,233)
Capital and reserves |  |  |  |
Called-up share capital | 6 | 1 |  | 1
Profit and loss account |  | ( 557,108 ) |  | ( 751,234 )
Total shareholder's deficit |  | ( 557,107) |  | ( 751,233)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Seafood Bar Soho Limited (registered number: 12267568) were approved and authorised for issue by the Board of Directors on 22 October 2025. They were signed on its behalf by:

P De Visscher Director |

THE SEAFOOD BAR SOHO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
THE SEAFOOD BAR SOHO LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 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

The Seafood Bar Soho 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 77 Dean Street, London, W1D 3SH, 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### 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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 31.12.2024 |  | 31.12.2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 36 |  | 37

#### 3. Debtors

| 31.12.2024 |  | 31.12.2023
| £ |  | £
Trade debtors | 10,238 |  | 0
Amounts owed by Group undertakings | 1,677,114 |  | 1,415,497
Other debtors | 46,580 |  | 73,206
| 1,733,932 |  | 1,488,703

#### 4. Creditors: amounts falling due within one year

| 31.12.2024 |  | 31.12.2023
| £ |  | £
Trade creditors | 73,415 |  | 61,765
Other taxation and social security | 108,885 |  | 100,139
Other creditors | 82,948 |  | 82,946
| 265,248 |  | 244,850

#### 5. Creditors: amounts falling due after more than one year

| 31.12.2024 |  | 31.12.2023
| £ |  | £
Bank loans | 64,959 |  | 126,874
Amounts owed to Group undertakings | 2,023,228 |  | 1,966,306
Other creditors | 58,790 |  | 56,530
| 2,146,977 |  | 2,149,710

#### 6. Called-up share capital

| 31.12.2024 |  | 31.12.2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 7. Related party transactions

At the year end the company was owed £1,677,114 (2023 - £1,415,497) by The Seafood Bar Limited, the intermediate parent company, in respect of an interest free loan which is repayable on demand.
The ultimate parent company is Seafood Group B V, registered in The Netherlands. and they were owed £2,023,228 (2023 - £1,966,306).
At the year end the company owed £53,815 (2023 - £51,746) to DJK Holding B.V, £4,975 (2023 - £4,784) to FBE de Visscher Holding B.V, and £64,959 (2023 - £126,875) to Seafood Market, companies having common director, on which 4% interest has been charged.