Fowey Shellfish Company Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 08053633

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		7,750		7,750
Investments	5		341,884		341,884

			349,634		349,634
CURRENT ASSETS
Debtors		159,330		193,833
Cash at bank and in hand		7,270		-

		166,600		193,833
Creditors: Amounts Falling Due Within One Year		(228,375 )		(660,241 )

NET CURRENT ASSETS (LIABILITIES)			(61,775 )		(466,408 )

TOTAL ASSETS LESS CURRENT LIABILITIES			287,859		(116,774 )

Creditors: Amounts Falling Due After More Than One Year			(5,383,996 )		(4,889,716 )

NET LIABILITIES			(5,096,137 )		(5,006,490 )

CAPITAL AND RESERVES
Called up share capital	6		100		100
Profit and Loss Account			(5,096,237 )		(5,006,590 )

SHAREHOLDERS' FUNDS			(5,096,137)		(5,006,490)

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Fowey Shellfish Company Limited

Abridged Balance Sheet (continued)

As At 29 May 2025

For the year ending 29 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 29 May 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr James Fox Davies

Director

29th May 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Fowey Shellfish Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08053633 . The registered office is 37a Birmingham New Road, Wolverhampton, West Midlands, WV4 6BL.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At the balance sheet date the company had net liabilities of £5,096,137 (2024: £5,006,490). The company is dependent on the continuing financial support of its parent company, ICC Four Ltd, and of its director, both of whom have confirmed their intention to continue providing such support for a period of at least 12 months from the date of approval of these financial statements and not to demand repayment of amounts owed within that period.

On that basis, and following the cessation of trading on 12 December 2023, the director considers it appropriate to prepare these accounts on a going concern basis.

2.3. Turnover

Turnover represents the amounts derived from the company's ordinary activities, stated net of value added tax. The company ceased trading on 12 December 2023 and accordingly recognised no turnover in the current period under review.

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	None
Leasehold	None

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.

2.6. Stocks and Work in Progress

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. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Fowey Shellfish Company Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 29 May 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	1	7

	1	7

4. Tangible Assets

	Total
	£
Cost
As at 30 May 2024	7,750

As at 29 May 2025	7,750

Net Book Value
As at 29 May 2025	7,750

As at 30 May 2024	7,750

5. Investments

	Total
	£
Cost or Valuation
As at 30 May 2024	1,519,136

As at 29 May 2025	1,519,136

Provision
As at 30 May 2024	1,177,252

As at 29 May 2025	1,177,252

Net Book Value
As at 29 May 2025	341,884

As at 30 May 2024	341,884

The investment represents 8 B ordinary shares of £1 each in West Country Mussels of Fowey Limited (registered in England and Wales, company number 06833817), acquired on in 2023 in exchange for the transfer of certain trade and assets of the company's former mussel-farming business. This represents approximately 7.4% of the issued share capital of that company.

The directors consider that the carrying value of the investment is supported by the underlying net assets of West Country Mussels of Fowey Limited.

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

The company's allotted, called up and fully paid share capital comprises 99 Ordinary shares of £1 each and 1 Ordinary A share of £1, giving total share capital of £100 (2024: £100). Each Ordinary share and each Ordinary A share is entitled to one vote in any circumstances and ranks pari passu with the other class in respect of dividends and any other distributions.

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Fowey Shellfish Company Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 29 May 2025

7. Related Party Transactions

At the balance sheet date, the company owed £5,350,548 (2024: £4,856,268) to its parent undertaking, ICC (Four) Ltd. The loan is unsecured, interest-free and has no fixed terms of repayment.

The company also owed £158,434 (2024: £476,936) to the director, Mr James Fox-Davies. The loan is unsecured, interest-free and is repayable on demand.

Included in debtors is an amount of £157,980 (2024: £115,290) due from Fox Davies Fishing Limited, a company under the common control of the director. The amount is unsecured, interest-free and is repayable on demand.

8. Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is ICC (Four) Limited, a company incorporated in England and Wales (company number 03332592), which holds 51% of the issued share capital and is the controlling party. Copies of the accounts may be obtained from the registered office at 37A Birmingham New Road, Wolverhampton, West Midlands, WV4 6BL.

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