Registration number: 03780906

R and J Seafoods Ltd.

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

R and J Seafoods Ltd.

Company Information

Director

Mr J W F Woods

Registered office

Units 19-20 Estate Road Number 8 South Humberside Industrial Estate Grimsby DN31 2TG

R and J Seafoods Ltd.

(Registration number: 03780906)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	748,489	816,675
Current assets
Stocks	5	522,237	625,535
Debtors	6	480,689	427,367
Cash at bank and in hand		19,075	11,020
		1,022,001	1,063,922
Creditors: Amounts falling due within one year	7	(1,098,292)	(924,306)
Net current (liabilities)/assets		(76,291)	139,616
Total assets less current liabilities		672,198	956,291
Creditors: Amounts falling due after more than one year	7	(637,953)	(605,347)
Provisions for liabilities		-	(32,718)
Net assets		34,245	318,226
Capital and reserves
Called up share capital	8	100	100
Retained earnings		34,145	318,126
Shareholders' funds		34,245	318,226

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

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

R and J Seafoods Ltd.

(Registration number: 03780906)
Balance Sheet as at 31 October 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 22 October 2025
 

......................................... Mr J W F Woods Director

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Units 19-20
Estate Road Number 8
South Humberside Industrial Estate
Grimsby
DN31 2TG

These financial statements were authorised for issue by the director on 22 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared for the individual entity and are presented in sterling and, rounded to the nearest pound.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Government grants

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the assets. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the assets.

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2-20% straight line
Plant and machinery	10% straight line

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Fixtures and fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 26 (2023 - 27).

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2023	742,967	624,015	1,366,982
At 31 October 2024	742,967	624,015	1,366,982
Depreciation
At 1 November 2023	176,911	373,396	550,307
Charge for the year	14,058	54,128	68,186
At 31 October 2024	190,969	427,524	618,493
Carrying amount
At 31 October 2024	551,998	196,491	748,489
At 31 October 2023	566,056	250,619	816,675

Included within the net book value of land and buildings above is £551,998 (2023 - £566,056) in respect of freehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Other inventories	522,237	625,535

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current	2024 £	2023 £
Trade debtors	427,362	389,180
Other debtors	53,327	38,187
	480,689	427,367

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	143,591	120,130
Trade creditors		676,533	618,158
Taxation and social security		227,433	142,230
Accruals and deferred income		36,710	34,600
Other creditors		14,025	9,188
		1,098,292	924,306

Creditors include bank loans and overdrafts and net obligations under hire purchase contracts which are secured on the assets of the company totalling £143,591 (2023 - £119,318).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	394,889	362,283
Other financial liabilities		243,064	243,064
		637,953	605,347

Creditors include bank loans and overdrafts and net obligations under purchase contracts which are secured on the assets of the company totalling £394,889 (2023 - £362,283).

Creditors include bank loans repayable by instalments of £187,334 (2023 - £166,751) due after more than five years.

8	Share capital

Allotted, called up and fully paid shares

R and J Seafoods Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	394,889	362,283

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	70,966	70,967
Other borrowings	72,625	48,352
	143,591	119,319

10	Related party transactions

Transactions with the Director

2024	At 1 November 2023 £	Repayments by Director £	At 31 October 2024 £
Mr J W F Woods
Directors Current Account	27,627	(3,815)	23,812

2023	At 1 November 2022 £	Advances to Director £	At 31 October 2023 £
Mr J W F Woods
Directors Current Account	-	27,627	27,627