REGISTERED NUMBER: SC498124 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

Seafield Mussels Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E N Smith

J M Laurenson

REGISTERED OFFICE:

Blueshell Mussels Limited

Farm Office

Sparl

Brae

Shetland

ZE2 9QJ

REGISTERED NUMBER:

SC498124 (Scotland)

ACCOUNTANTS:

Mackay Johnson Ltd

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Intangible assets

4

4,928

4,928

Tangible assets

5

-

1,239

Investments

6

10,620

10,620

15,548

16,787

CURRENT ASSETS

Stocks

58,964

109,504

Debtors

7

327,557

55,439

Cash at bank

85,188

34,417

471,709

199,360

CREDITORS

Amounts falling due within one year

8

304,553

54,998

NET CURRENT ASSETS

167,156

144,362

TOTAL ASSETS LESS CURRENT LIABILITIES

182,704

161,149

CREDITORS

Amounts falling due after more than one year

9

36,671

32,039

NET ASSETS

146,033

129,110

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

163,900

163,900

Retained earnings

(17,967

)

(34,890

)

SHAREHOLDERS' FUNDS

146,033

129,110

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 20 April 2026 and were signed on its behalf by:

E N Smith - Director

J M Laurenson - Director

1.	STATUTORY INFORMATION

Seafield Mussels Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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 not currently being amortised.

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

-

10% on cost and Straight line over 7 years

Stocks

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

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 August 2024

and 31 July 2025

100,000

4,928

104,928

AMORTISATION

At 1 August 2024

and 31 July 2025

100,000

-

100,000

NET BOOK VALUE

At 31 July 2025

-

4,928

4,928

At 31 July 2024

-

4,928

4,928

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 August 2024

and 31 July 2025

98,374

DEPRECIATION

At 1 August 2024

97,135

Charge for year

1,239

At 31 July 2025

98,374

NET BOOK VALUE

At 31 July 2025

-

At 31 July 2024

1,239

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2024

and 31 July 2025

10,620

NET BOOK VALUE

At 31 July 2025

10,620

At 31 July 2024

10,620

7.

DEBTORS

31.7.25

31.7.24

£

£

Amounts falling due within one year:

Trade debtors

287,335

10,561

Other debtors

3,551

11,558

290,886

22,119

Amounts falling due after more than one year:

Other debtors

36,671

33,320

Aggregate amounts

327,557

55,439

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

290,584

44,583

Taxation and social security

4,199

979

Other creditors

9,770

9,436

304,553

54,998

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Other creditors

36,671

32,039

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby they have occurred under normal market conditions.