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Registered number: 05395094
Whitstable Oyster Company Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 May 2025
Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge, Folkestone
Kent
CT18 7TQ
Whitstable Oyster Company Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2—3
Independent Auditor's Report | 4—5
Profit and Loss Account | 6
Statement of Comprehensive Income | 7
Balance Sheet | 8
Statement of Changes in Equity | 9
Statement of Cash Flows | 10
Notes to the Statement of Cash Flows | 11
Notes to the Financial Statements | 12—19

Page 1
Whitstable Oyster Company Limited
Strategic Report
For The Year Ended 31 May 2025
Strategic Report
The directors present their strategic report for the year ended 31 May 2025.
Principal Activity
The company's principal activity continues to be that of the Purveyors of Sea Food Products and Brewery products through commercial outlets and Property Estate Managers.
Review of the Business
The major operating costs relating to the business are staff wages and employer costs, purchases of food and drink and premises costs such as rent, rates, light and heat. These continue to be at high levels but are being monitored and managed by the directors.
There is commitment to investment in the business so that high standards of quality can be maintained and this is evidenced through fixed assets additions totalling £282,066 (2024 - £113,805).
The key financial and operational performance indicators monitored by management include staff costs to turnover, stock purchases to turnover and operating cash flow ratio.
The staff costs as a percentage of turnover for the Company have been 35.0% (2024 - 33.6%).
The stock purchases costs as a percentage of turnover for the Company have been 35.9% (2024 - 37.9%).
The current ratio (current assets/current liabilities) for the Company was 3.43 (2024 - 2.70).
Principal Risks and Uncertainties
The principal risks to the company are:
1. The state of the economy and the national and sector specific challenges resulting from the ongoing cost of living crisis.
2. That cash flow is appropriately maintained during the quieter months of the business and the business does not have to rely on higher cost loans rather than its own reserves. To meet this cash flow is reviewed monthly and then planned appropriately.
3. That the company continues to maintain the food and hygiene standards required by the Food Standards Agency. To meet these the company continues to invest in staff training and maintaining the equipment to a high standard.
On behalf of the board

Mr J Green Director
20/02/2026

Page 1
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Whitstable Oyster Company Limited
Company No. 05395094
Directors' Report For The Year Ended 31 May 2025
Directors' Report
The directors present their report and the financial statements for the year ended 31 May 2025.
Future Developments
The directors believe that the impact of the cost of living crisis is being managed as carefully as possible by the company.
2025/26 & 2026/27 forecasts have been prepared at higher than 2025 levels with sales increasing due to inflationary cost increases being passed on where possible. The forecasts have taken account of the increasing costs from minimum wage increases and continued increases in utility costs expected as fixed term contracts come to an end, from April 26 the business rates relief will end and estimates have been made to take account of the removal and cost increases, however the impact of any Government support is yet to be fully understood and this may well reduce the predicted impact of these cost increases.
Since the year end, the company enjoyed a strong start to the financial year to December. The directors expect this to continue when the weather improves in the Spring and thus the business will be running at capacity again. Currently the business remains profitable on a year-to-date basis.
Based on these assumptions, the directors believe that there is no material uncertainty due to the ongoing external factors and the company will continue in operational existence for the foreseeable future.
Dividends
The value of dividends paid amounted to £NIL .
The directors recommended a final dividend of £NIL .
Financial Instruments
The company's activities and seasonality of business expose it to a number of financial risks including credit risks, cash flow and liquidity. It carefully manages its bank facilities and cash flows to minimize these risks.
The company's main financial instruments comprise cash, bank overdraft facilities, bank loans and other loans.
The main financial risks related to these facilities are credit risk and liquidity risk. The company mitigates its credit risk by carrying out credit checks and status enquiries on individual customers and suppliers, and by regularly reviewing its debtors. Exposure to liquidity risk is mitigated by ensuring that the company has sufficient funds available for day-to-day operations through the management of its borrowing facilities.
Directors
The directors who held office during the year were as follows:

Mr J Green
Mr R Green
Mr G Green

Post Balance Sheet Events
There have been no significant events affecting the Company since the year end.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
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Whitstable Oyster Company Limited
Directors' Report (continued)
For The Year Ended 31 May 2025
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors
The auditors, Beresfords Chartered Certified Accountants, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board

Mr J Green Director
20/02/2026

Page 3
Page 4
Independent Auditor's Report
to the Members of
Whitstable Oyster Company Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of Whitstable Oyster Company Limited for the year ended 31 May 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit/(loss) for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:

- the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
Whitstable Oyster Company Limited
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records or returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have nothing to report in this regard.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Phillip Hindle FCCA (Senior Statutory Auditor) for and on behalf of Beresfords Chartered Certified Accountants , Statutory Auditor
20/02/2026

Page 5
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Whitstable Oyster Company Limited
Profit and Loss Account
For The Year Ended 31 May 2025
Profit and Loss Account

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER | 3 | 9,678,230 |  | 9,664,828
Cost of sales |  | (7,026,660 ) |  | (7,053,993 )
GROSS PROFIT |  | 2,651,570 |  | 2,610,835
Administrative expenses |  | (1,503,308 ) |  | (1,441,139 )
Other operating income |  | - |  | -
OPERATING PROFIT | 4 | 1,148,262 |  | 1,169,696
Loss on disposal of fixed assets |  | (7,649 ) |  | (4,434 )
Other interest receivable and similar income | 9 | 311 |  | 342
Interest payable and similar charges | 10 | (423,955 ) |  | (493,720 )
PROFIT BEFORE TAXATION |  | 716,969 |  | 671,884
Tax on Profit | 11 | (199,956 ) |  | (187,476 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |  | 517,013 |  | 484,408

The notes on pages 11 to 19 form part of these financial statements.
Page 6
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Whitstable Oyster Company Limited
Statement of Comprehensive Income
For The Year Ended 31 May 2025
Statement of Comprehensive Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
PROFIT FOR THE FINANCIAL YEAR |  | 517,013 |  | 484,408
OTHER COMPREHENSIVE INCOME FOR THE YEAR |  | - |  | -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |  | 517,013 |  | 484,408

Page 7
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Whitstable Oyster Company Limited
Balance Sheet
As At 31 May 2025
Balance Sheet
Registered number: 05395094

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 12 |  | 4,075,860 |  | 3,980,652
|  |  | 4,075,860 |  | 3,980,652
CURRENT ASSETS
Stocks | 13 | 156,601 |  | 147,348 |
Debtors | 14 | 4,074,641 |  | 4,283,961 |
Cash at bank and in hand |  | 1,423,787 |  | 1,343,553 |
|  | 5,655,029 |  | 5,774,862 |
Creditors: Amounts Falling Due Within One Year | 15 | (1,652,079 ) |  | (2,142,291 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 4,002,950 |  | 3,632,571
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 8,078,810 |  | 7,613,223
Creditors: Amounts Falling Due After More Than One Year | 16 |  | (3,184,715 ) |  | (3,262,036 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 19 |  | (188,704 ) |  | (162,809 )
NET ASSETS |  |  | 4,705,391 |  | 4,188,378
CAPITAL AND RESERVES
Called up share capital | 21 |  | 100 |  | 100
Profit and Loss Account |  |  | 4,705,291 |  | 4,188,278
SHAREHOLDERS' FUNDS |  |  | 4,705,391 |  | 4,188,378

On behalf of the board

Mr J Green Director
20/02/2026

The notes on pages 11 to 19 form part of these financial statements.
Page 8
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Whitstable Oyster Company Limited
Statement of Changes in Equity
For The Year Ended 31 May 2025
Statement of Changes in Equity

| Share Capital | Profit and Loss Account | Total
--- | --- | --- | ---
| £ | £ | £
As at 1 June 2023 | 100 | 3,703,870 | 3,703,970
Profit for the year and total comprehensive income | - | 484,408 | 484,408
As at 31 May 2024 and 1 June 2024 | 100 | 4,188,278 | 4,188,378
Profit for the year and total comprehensive income | - | 517,013 | 517,013
As at 31 May 2025 | 100 | 4,705,291 | 4,705,391

Page 9
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Whitstable Oyster Company Limited
Statement of Cash Flows
For The Year Ended 31 May 2025
Statement of Cash Flows

| 2025 |  | 2024
| Notes | £ |  | £
Cash flows from operating activities
Net cash generated from operations | 1 | 642,466 |  | 1,143,634
Tax paid |  | (217,041 ) |  | (365,325 )
Net cash generated from operating activities |  | 425,425 |  | 778,309
Cash flows from investing activities
Purchase of tangible assets |  | (280,851 ) |  | (113,805 )
Proceeds from disposal of tangible assets |  | 2,308 |  | 8,010
Interest received |  | 311 |  | 343
Cash receipts from repayment of loans to related parties |  | 392,602 |  | 193,975
Advances of loans to related parties |  | (282,429) |  | (392,256)
Net cash used in investing activities |  | (168,059 ) |  | (303,733 )
Cash flows from financing activities
Proceeds from new bank borrowings |  | - |  | 3,216,418
Repayment of bank borrowings |  | (87,169 ) |  | (2,677,053 )
Amount withdrawn by directors |  | (19,755) |  | -
Interest paid and loan written off |  | (231,234) |  | (222,018)
Proceeds from related party borrowing draw downs |  | 223,239 |  | 42,708
Repayment of related party borrowing |  | (62,213) |  | (81,231)
Net cash (used in)/generated from financing activities |  | (177,132 ) |  | 278,824
Increase in cash and cash equivalents |  | 80,234 |  | 753,400
Cash and cash equivalents at beginning of year | 2 | 1,343,553 |  | 590,153
Cash and cash equivalents at end of year | 2 | 1,423,787 |  | 1,343,553

Page 10
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Whitstable Oyster Company Limited
Notes to the Statement of Cash Flows
For The Year Ended 31 May 2025
Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit for the financial year | 517,013 |  | 484,408
Adjustments for:
Tax on profit | 199,956 |  | 187,476
Interest expense | 231,234 |  | 258,218
Interest income | (311 ) |  | (342 )
Depreciation of tangible assets | 175,686 |  | 153,721
Loss on disposal of tangible assets | 7,649 |  | 4,434
Movements in working capital:
(Increase)/decrease in stocks | (9,253 ) |  | 2,041
Increase in trade and other debtors | (24,713 ) |  | (14,382 )
(Decrease)/increase in trade and other creditors | (454,795 ) |  | 37,418
Decrease in deferred income, including government grants | - |  | 30,642
Net cash generated from operations | 642,466 |  | 1,143,634

2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cash at bank and in hand | 1,423,787 |  | 1,343,553

3. Analysis of changes in net debt

| As at 1 June 2024 | Cash flows | As at 31 May 2025
--- | --- | --- | ---
| £ | £ | £
Cash at bank and in hand | 1,343,553 | 80,234 | 1,423,787
Debts falling due within one year | (85,385 ) | (6,837) | (92,222 )
Debts falling due after more than one year | (3,057,652) | 94,006 | (2,963,646)
| (1,799,484) | 167,403 | (1,632,081)

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Whitstable Oyster Company Limited
Notes to the Financial Statements
For The Year Ended 31 May 2025
Notes to the Financial Statements
1. General Information
Whitstable Oyster Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05395094 . The registered office is Harbour Office, Whitstable Harbour, Whitstable, Kent, CT5 1AB.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Significant judgements and estimations
No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of ssets and liabilities within the next financial year have been made.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | 2% straight line (buildings) nil (land)
Plant & Machinery | 15% reducing balance
Motor Vehicles | 25% reducing balance
Fixtures & Fittings | 10% reducing balance
Computer Equipment | 20% reducing balance

2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
2.6. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
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.
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Financial Instruments
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Trade creditors are recognised at the transaction price.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
3. Turnover
Analysis of turnover by class of business is as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Rendering of services | 1,915,433 |  | 1,921,509
Sale of goods | 7,762,797 |  | 7,743,319
| 9,678,230 |  | 9,664,828

4. Operating Profit
The operating profit is stated after charging:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Depreciation of tangible fixed assets | 175,686 |  | 153,721

5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 12,645 |  | 11,495

6. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Wages and salaries | 3,253,416 |  | 3,169,494
Social security costs | 250,208 |  | 224,369
Other pension costs | 50,370 |  | 47,777
| 3,553,994 |  | 3,441,640

7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
Operational staff | 193 |  | 213
Directors | 3 |  | 3
| 196 |  | 216

8. Directors' remuneration

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 147,500 |  | 168,333
Company contributions to money purchase pension schemes | 3,842 |  | 4,042
| 151,342 |  | 172,375

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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
9. Interest Receivable and Similar Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other interest receivable - beneficial loan interest | 311 |  | 154
Other interest receivable | - |  | 188
| 311 |  | 342

10. Interest Payable and Similar Charges

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 419,358 |  | 448,364
Interest payable on other loans | 4,335 |  | 4,008
Other finance charges | 262 |  | 41,348
| 423,955 |  | 493,720

11. Tax on Profit

The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 25.0% | 25.0% | 174,061 |  | 197,834
Deferred Tax
Origination and reversal of timing differences | 25,895 |  | (10,358 )
Total tax charge for the period | 199,956 |  | 187,476
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 |  | 2024
| £ |  | £
Profit before tax | 716,969 |  | 671,884
Tax on profit at 25% (UK standard rate) | 179,242 |  | 167,971
Expenses not deductible for tax purposes | 1,184 |  | 9,437
Capital allowances | 19,530 |  | 10,068
Total tax charge for the period | 199,956 |  | 187,476

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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
12. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 June 2024 | 3,821,579 | 439,790 | 29,970 | 933,209
Additions | 65,104 | 70,526 | 13,906 | 85,255
Disposals | - | (14,031 ) | (3,500 ) | (8,533 )
As at 31 May 2025 | 3,886,683 | 496,285 | 40,376 | 1,009,931
Depreciation
As at 1 June 2024 | 502,624 | 299,923 | 23,282 | 443,407
Provided during the period | 68,361 | 31,301 | 4,657 | 57,332
Disposals | - | (10,567 ) | (1,531 ) | (5,227 )
As at 31 May 2025 | 570,985 | 320,657 | 26,408 | 495,512
Net Book Value
As at 31 May 2025 | 3,315,698 | 175,628 | 13,968 | 514,419
As at 1 June 2024 | 3,318,955 | 139,867 | 6,688 | 489,802

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 June 2024 | 94,183 | 5,318,731
Additions | 46,060 | 280,851
Disposals | (8,103 ) | (34,167 )
As at 31 May 2025 | 132,140 | 5,565,415
Depreciation
As at 1 June 2024 | 68,843 | 1,338,079
Provided during the period | 14,035 | 175,686
Disposals | (6,885 ) | (24,210 )
As at 31 May 2025 | 75,993 | 1,489,555
Net Book Value
As at 31 May 2025 | 56,147 | 4,075,860
As at 1 June 2024 | 25,340 | 3,980,652

Included within the net book value of land and buildings above is £3,304,169 (2024 - £3,318,955) in respect of freehold land and buildings
13. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Food, drink and consumables | 156,601 |  | 147,348

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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
14. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 85,565 |  | 98,711
Prepayments and accrued income | 170,440 |  | 132,581
Other debtors - The Whitstable Oyster Trading Company Ltd | 1,859,933 |  | 1,888,514
Other debtors - G.B. Green Limited | - |  | 137,763
Other debtors - Sea Street Developments Limited | 1,815,265 |  | 1,909,623
Other debtors - The Faversham Real Ale Trading Company Ltd | 116,003 |  | 115,853
Directors' loan accounts | 27,435 |  | 916
| 4,074,641 |  | 4,283,961

15. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 287,991 |  | 801,388
Bank loans and overdrafts | 92,222 |  | 85,385
Other creditors | 139,557 |  | 122,291
Corporation tax | 75,887 |  | 118,867
Taxation and social security | 439,415 |  | 435,949
Accruals and deferred income | 617,007 |  | 578,411
| 1,652,079 |  | 2,142,291

16. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans | 2,963,646 |  | 3,057,652
Other creditors - The Whitstable Oyster Fishery Company | 221,069 |  | 204,384
| 3,184,715 |  | 3,262,036

17. Loans
An analysis of the maturity of loans is given below:
NatWest bank loan is denominated in GBP with a nominal interest rate of 2.5% above the Bank of England base rate %, and the final instalment is due on 21 April 2040. The carrying amount at year end is £1,418,663 (2024 - £1,467,610).
NatWest bank loan is denominated in GBP with a nominal interest rate of 2.45% above the Bank of England base rate %, and the final instalment is due on 11 January 2044. The carrying amount at year end is £1,637,205 (2024 - £1,675,427).
There is a debenture held against Whitstable Oyster Company Limited.
There is a fixed charge for £10,000 Cash Deposit held on Whitstable Oyster Company Limited.
There is a fixed charge over the freehold of Penny Lodge, Tower Hill, Whitstable, Kent and its associated assets.
There is a fixed charge over the freehold of The Boat House, Sea Wall, Whitstable, Kent and its associated assets.
G B Green Limited has guaranteed the value of the NatWest bank loan supported by a charge over the Hotel Continental, Beach Walk, Whitstable, Kent and it's associated assets, along with a Debenture held against G B Green Limited.
Included in the loans and borrowings are the following amounts due after more than five years:

| 2025 |  | 2024
| £ |  | £
After more than five years by instalments | 2,512,937 |  | 2,640,456

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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts falling due within one year or on demand:
Bank loans | 92,222 |  | 85,385

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Amounts falling due between one and five years:
Bank loans | 2,963,646 |  | 3,057,652

19. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Accelerated capital allowances | 25,895 |  | (10,358 )
Other timing differences | 162,809 |  | 173,167
| 188,704 |  | 162,809

20. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 June 2024 | 162,809 | 162,809
Additions | 25,895 | 25,895
Balance at 31 May 2025 | 188,704 | 188,704

21. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
100 Ordinary Shares of £ 1.00 each | 100 |  | 100

22. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 355,919 |  | 355,919
Later than one year and not later than five years | 1,423,676 |  | 1,423,676
Later than five years | 4,047,415 |  | 4,353,334
| 5,827,010 |  | 6,132,929

The amount of non-cancellable operating lease payments recognised as an expense during the year was £428,650 (2024 - £398,751).
Substantially all of the operating lease commitments are long contracts in place for the rental of premises from the related parties Whitstable Oyster Fishery Company and G B Green Limited.
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Whitstable Oyster Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
23. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £50,370 (2024: £47,777).
At the balance sheet date contributions of £13,001 (2024: £11,052) were due to the fund and are included in creditors.
24. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 June 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 May 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr James Green | 915 | 57,161 | 44,545 | - | 13,531
Mr George Green | - | 16,163 | 7,500 | - | 8,663

The above loan is unsecured and repayable on demand, interest has been charged at the HMRC approved rate of 2.25/3.5% as applicable.
25. Reserves
Called up share capital
This reserve comprises all monies paid for shares in the company at nominal value.
Profit and loss account
This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.
26. Related Party Disclosures
Transactions with Key Management
At the financial year-end the loan balance owed by the directors was £22,194 (2024 - £915). The loans to directors are charged HMRC's official rate for beneficial loan interest and are repayable on demand. During the year advances were made of £73,324 (2024 - £43,415) and repayments made of £52,045 (2024 - £42,500).
At the financial year-end the balance of the loan account owed to the directors was £1,487 (2024 - £22,886). The loans from directors are interest free and repayable on demand. During the year advances were made of £35,079 (2024 - £39,230) and repayments made of £13,680 (2024 - £30,000).
Summary of transactions with other related parties
All companies listed below have key management and shareholders in common with Whitstable Oyster Company Limited. There are no agreed terms to these loans.
During the year, the company made sales of £82,481 (2024 - £110,021) being wages, legal fees and rent recharges to The Whitstable Oyster Trading Company Limited. The company made purchases of £505,127 (2024 - £470,090) being food items. At 31 May 2025 £1,859,933 was due from The Whitstable Oyster Trading Company Limited (2024 - £1,914,883).
During the year, the company made sales of £118 (2024 - £(451)) being wages and insurance recharges to Whitstable Oyster Fishery Company. The company made purchases of £95,402 (2024 - £96,212) being the rental of premises. At 31 May 2025 £221,069 was due to Whitstable Oyster Fishery Company (2024 - £204,384).
During the year, the company made no sales to G B Green Limited (2024 - £Nil). The company made purchases of £52,956 (2024 - £48,797) being the rental of premises. At 31 May 2025 £23,611 was due to G B Green Limited (2024 - £137,763 due from).
During the year, the company made sales of £55,998 (2024 - £22,050) being alcohol, wages and telephone recharges to The Faversham Real Ale Trading Company Ltd. The company made no purchases (2024 - £Nil). At 31 May 2025 £116,003 was due from The Faversham Real Ale Trading Company Ltd (2024 - £115,853).
During the year, the company made sales of £6,271 (2024 - £13,133) being insurance recharges to Sea Street Developments Limited. The company made purchases of £165,358 (2024 - £162,447) being rent and utilities. At 31 May 2025 £1,815,265 was due from Sea Street Developments Limited (2024 - £1,909,623).
The total cost of employing close family members of the directors was £298,404 (2024 - £283,845) being their gross pay, employers national insurance and employers pension.
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