REGISTERED NUMBER: 13330680 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025

FOR

PHOENIX SEAFOODS (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K V Prokidis

T J W ter Horst

Ms E Ortega Zamorano

REGISTERED OFFICE:

Suite 1B

Quadrant House North

65 Croydon Road

Caterham

Surrey

CR3 6PB

REGISTERED NUMBER:

13330680 (England and Wales)

ACCOUNTANTS:

Upton Neenan Lees

Chartered Accountants

Suite 1B

Quadrant House North

65 Croydon Road

Caterham

Surrey

CR3 6PB

FIXED ASSETS

Intangible assets

4

2,044

3,621

Tangible assets

5

1,169

2,053

3,213

5,674

CURRENT ASSETS

Stocks

1,023,518

450

Debtors

6

3,409,647

3,250,502

Cash at bank

448,783

543,586

4,881,948

3,794,538

CREDITORS

Amounts falling due within one year

7

(2,306,380

)

(1,217,803

)

NET CURRENT ASSETS

2,575,568

2,576,735

TOTAL ASSETS LESS CURRENT LIABILITIES

2,578,781

2,582,409

CREDITORS

Amounts falling due after more than one year

8

(1,333,665

)

(1,427,795

)

NET ASSETS

1,245,116

1,154,614

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,245,016

1,154,514

1,245,116

1,154,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2025 and were signed on its behalf by:

K V Prokidis - Director

T J W ter Horst - Director

Ms E Ortega Zamorano - Director

1.	STATUTORY INFORMATION

Phoenix Seafoods (UK) Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 etc

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2024

and 31 March 2025

8,603

AMORTISATION

At 1 May 2024

4,982

Charge for period

1,577

At 31 March 2025

6,559

NET BOOK VALUE

At 31 March 2025

2,044

At 30 April 2024

3,621

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

and 31 March 2025

6,243

DEPRECIATION

At 1 May 2024

4,190

Charge for period

884

At 31 March 2025

5,074

NET BOOK VALUE

At 31 March 2025

1,169

At 30 April 2024

2,053

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

30.4.24

£

£

Trade debtors

3,369,759

3,208,331

Other debtors

39,888

42,171

3,409,647

3,250,502

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

30.4.24

£

£

Bank loans and overdrafts

1,180,731

551,486

Trade creditors

595,275

-

Taxation and social security

126,360

265,194

Other creditors

404,014

401,123

2,306,380

1,217,803

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

30.4.24

£

£

Other creditors

1,333,665

1,427,795