MW Seafoods Limited - Filleted accounts

Registered number

08264823

MW Seafoods Limited

Unaudited Filleted Accounts

30 June 2025

MW Seafoods Limited
Registered number:		08264823
Balance Sheet
as at 30 June 2025
Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		5,589			4,312

Current assets
Debtors	4	76,880			332,848
Cash at bank and in hand		49,177			-
		126,057			332,848
Creditors: amounts falling due within one year	5	(68,649)			(262,127)

Net current assets			57,408			70,721

Total assets less current liabilities			62,997			75,033

Creditors: amounts falling due after more than one year	6		-			(10,833)

Provisions for liabilities			(1,397)			(1,078)

Net assets			61,600			63,122

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			60,600			62,122

Shareholders' funds			61,600			63,122

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


M Wells
Director
Approved by the board on 16 September 2025

MW Seafoods Limited
Notes to the Accounts
for the year ended 30 June 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The reporting currency is Pounds Sterling (GBP) and all figures are rounded to the nearest £1.


	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery		straight line at 10% or 17.5% reducing balance
	Motor vehicles		straight line at 25% or 30% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Share Capital
	Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

	Dividends
	Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Employees					2025		2024
Number							Number
	Average number of persons employed by the company					2		2

3	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 July 2024			44,099		-		44,099
	Additions			-		5,495		5,495
	At 30 June 2025			44,099		5,495		49,594

	Depreciation
	At 1 July 2024			39,787		-		39,787
	Charge for the year			4,065		153		4,218
	At 30 June 2025			43,852		153		44,005

	Net book value
	At 30 June 2025			247		5,342		5,589
	At 30 June 2024			4,312		-		4,312

4	Debtors					2025		2024
£							£
	Trade debtors					71,911		75,575
	Other debtors					4,969		257,273
						76,880		332,848


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					-		185,640
	Trade creditors					56,056		49,148
	Taxation and social security costs					9,270		9,192
	Other creditors					3,323		18,147
						68,649		262,127


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		10,833


7	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					-		175,640

	Any bank overdraft arising is secured by a debenture over all assets of the company.


8	Share Capital					2025		2024
£							£
	Allotted Share capital:
	A Ordinary Shares of £1 each					400		400
	B Ordinary Shares of £1 each					100		100
	C Ordinary Shares of £1 each					250		250
	D Ordinary Shares of £1 each					250		250
						1,000		1,000

	The ordinary shares carry equal voting rights and rights to capital on a winding up, but the company's articles allow for separate rates of dividend to be voted on each class of ordinary share independent of the other classes.



9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	M Wells
	Directors' current account	(1,650)		3,621		(3,200)		(1,229)

		(1,650)		3,621		(3,200)		(1,229)

10	Controlling party

	The company is controlled by the directors as a body. There is no overall controlling party.





11	Other information

	MW Seafoods Limited is a private company limited by shares and incorporated in England. Its registered office is:
	c/o Kirwin Brothers, North Quay
	Fish Docks
	Grimsby
	N E Lincolnshire
	DN31 3SY