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COMPANY REGISTRATION NUMBER: 06560462

Selwyn's Seafoods Limited

Filleted Unaudited Financial Statements

30 April 2025

Selwyn's Seafoods Limited

Statement of Financial Position

30 April 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Intangible assets | 5 |  | – | 3,325
Tangible assets | 6 |  | 147,054 | 159,666
|  | --------- | ---------
|  | 147,054 | 162,991

Current assets

Stocks | 2,500 |  | 2,500
Debtors | 7 | 48,664 |  | 45,744
Cash at bank and in hand | 55,143 |  | 9,266
| --------- |  | --------
| 106,307 |  | 57,510

Creditors: amounts falling due within one year | 8 | 169,953 |  | 157,433
| --------- |  | ---------
Net current liabilities |  | 63,646 | 99,923
|  | --------- | ---------
Total assets less current liabilities |  | 83,408 | 63,068

Provisions

Taxation including deferred tax |  | 19,932 | 21,540
|  | -------- | --------
Net assets |  | 63,476 | 41,528
|  | -------- | --------

Capital and reserves

Called up share capital |  | 2 | 2
Profit and loss account |  | 63,474 | 41,526
|  | -------- | --------
Shareholder funds |  | 63,476 | 41,528
|  | -------- | --------

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 income and retained earnings has not been delivered.
For the year ending 30 April 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 member has 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Selwyn's Seafoods Limited

Statement of Financial Position (continued)

30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 28 January 2026 , and are signed on behalf of the board by:

Mr R A Jones |
Director |

Company registration number: 06560462

Selwyn's Seafoods Limited

Notes to the Financial Statements

Year ended 30 April 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 Penyrheol Farm, Blue Anchor, Penclawdd, Swansea, SA4 3HY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 revalued amounts, 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. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Product brand | - | 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:

| Short leasehold property | - | 5% straight line
| Plant and machinery | - | 25% reducing balance or 10 years straight line
| Fixtures and fittings | - | 25% reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are 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 in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. 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 asset.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2024: 3 ).
5. Intangible assets

| Product brand
| £
Cost |
At 1 May 2024 and 30 April 2025 | 33,250
| --------
Amortisation |
At 1 May 2024 | 29,925
Charge for the year | 3,325
| --------
At 30 April 2025 | 33,250
| --------
Carrying amount |
At 30 April 2025 | –
| --------
At 30 April 2024 | 3,325
| --------

6. Tangible assets

| Land and buildings | Plant and machinery | Fixtures and fittings | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 May 2024 | 116,423 | 246,658 | 16,422 | 379,503
Additions | – | 22,133 | 7,232 | 29,365
| --------- | --------- | -------- | ---------
At 30 April 2025 | 116,423 | 268,791 | 23,654 | 408,868
| --------- | --------- | -------- | ---------
Depreciation |  |  |  |
At 1 May 2024 | 46,569 | 163,571 | 9,697 | 219,837
Charge for the year | 5,822 | 32,665 | 3,490 | 41,977
| --------- | --------- | -------- | ---------
At 30 April 2025 | 52,391 | 196,236 | 13,187 | 261,814
| --------- | --------- | -------- | ---------
Carrying amount |  |  |  |
At 30 April 2025 | 64,032 | 72,555 | 10,467 | 147,054
| --------- | --------- | -------- | ---------
At 30 April 2024 | 69,854 | 83,087 | 6,725 | 159,666
| --------- | --------- | -------- | ---------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 16,438 | 12,869
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 21,325 | 8,661
Other debtors | 10,901 | 24,214
| -------- | --------
| 48,664 | 45,744
| -------- | --------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 102,651 | 7,258
Trade creditors | 23,828 | 82,126
Corporation tax | 7,573 | –
Other creditors | 35,901 | 68,049
| --------- | ---------
| 169,953 | 157,433
| --------- | ---------

9. Related party transactions
The company has taken the exemption provided by Section 1AC.35 of FRS 102 not to disclosure transactions between two wholly owned members of the group.
10. Controlling party
The ultimate holding company is Hiash Limited, who owns 100% of the share capital of the company and their registered office is 1 Picton Lane, Swansea, SA1 4AF. Hiash Limited does not prepare consolidated accounts under the exemption provided by Section 1A.21 of FRS 102.