Cornalls Seafood Limited 31/03/2025 iXBRL

Company registration number: 04693936

CORNALLS SEAFOOD LIMITED

UNAUDITED FILLETED FINANCIAL STATEMENTS

31 March 2025

CORNALLS SEAFOOD LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

CORNALLS SEAFOOD LIMITED

DIRECTORS AND OTHER INFORMATION


	Director	Mr I D Cornall


	Secretary	Mrs J E Cornall


	Company number	04693936


	Registered office	Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB


	Business address	Stall 16
		Market Hall
		Shrewsbury
		Shropshire
		SY1 1HQ


	Accountants	Heywoods
		Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB

CORNALLS SEAFOOD LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CORNALLS SEAFOOD LIMITED

YEAR ENDED 31ST MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cornalls Seafood Limited for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Cornalls Seafood Limited, as a body, in accordance with the terms of our engagement letter dated 18 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Cornalls Seafood Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cornalls Seafood Limited and its director as a body for our work or for this report.

It is your duty to ensure that Cornalls Seafood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cornalls Seafood Limited. You consider that Cornalls Seafood Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cornalls Seafood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Heywoods

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

28 August 2025

CORNALLS SEAFOOD LIMITED

STATEMENT OF FINANCIAL POSITION

31ST MARCH 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	3,067		2,350
Tangible assets	6	27,627		29,255
		_______		_______
			30,694		31,605

Current assets
Stocks		4,840		4,378
Debtors	7	11,280		10,636
Cash at bank and in hand		72,152		95,428
		_______		_______
		88,272		110,442
Creditors: amounts falling due
within one year	8	( 48,755)		( 57,426)
		_______		_______
Net current assets			39,517		53,016
			_______		_______
Total assets less current liabilities			70,211		84,621


Provisions for liabilities			( 5,249)		( 5,559)

			_______		_______
Net assets			64,962		79,062
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			64,960		79,060
			_______		_______
Shareholders funds			64,962		79,062
			_______		_______

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 August 2025 , and are signed on behalf of the board by:

Mr I D Cornall

Director

Company registration number: 04693936

CORNALLS SEAFOOD LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31ST MARCH 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	2	55,944	55,946

Profit for the year		63,436	63,436
	_______	_______	_______
Total comprehensive income for the year	-	63,436	63,436

Dividends paid and payable		( 40,320)	( 40,320)
	_______	_______	_______
Total investments by and distributions to owners	-	( 40,320)	( 40,320)

	_______	_______	_______
At 31 March 2024 and 1 April 2024	2	79,060	79,062

Profit for the year		48,736	48,736
	_______	_______	_______
Total comprehensive income for the year	-	48,736	48,736

Dividends paid and payable		( 62,836)	( 62,836)
	_______	_______	_______
Total investments by and distributions to owners	-	( 62,836)	( 62,836)

	_______	_______	_______
At 31 March 2025	2	64,960	64,962
	_______	_______	_______

CORNALLS SEAFOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31ST MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

Stocks

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

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 April 2024	2,350	2,350
Additions	2,250	2,250
	_______	_______
At 31 March 2025	4,600	4,600
	_______	_______
Amortisation
At 1 April 2024	-	-
Charge for the year	1,533	1,533
	_______	_______
At 31 March 2025	1,533	1,533
	_______	_______
Carrying amount
At 31 March 2025	3,067	3,067
	_______	_______
At 31 March 2024	2,350	2,350
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	46,541	34,061	80,602
Additions	5,518	-	5,518
Disposals	( 2,023)	-	( 2,023)
	_______	_______	_______
At 31 March 2025	50,036	34,061	84,097
	_______	_______	_______
Depreciation
At 1 April 2024	29,478	21,869	51,347
Charge for the year	2,849	3,048	5,897
Disposals	( 774)	-	( 774)
	_______	_______	_______
At 31 March 2025	31,553	24,917	56,470
	_______	_______	_______
Carrying amount
At 31 March 2025	18,483	9,144	27,627
	_______	_______	_______
At 31 March 2024	17,063	12,192	29,255
	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	6,130	6,910
Other debtors	5,150	3,726
	_______	_______
	11,280	10,636
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	23,023	31,100
Corporation tax	12,945	19,074
Social security and other taxes	397	448
Other creditors	12,390	6,804
	_______	_______
	48,755	57,426
	_______	_______