Company No: 10971767 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	110,923		113,547
Investment property	4	112,500		112,500
Investments	5	10,100		10,100
		233,523		236,147
Current assets
Cash at bank and in hand		1,958		19,429
		1,958		19,429
Creditors: amounts falling due within one year	6	( 52,749)		( 64,081)
Net current liabilities		(50,791)		(44,652)
Total assets less current liabilities		182,732		191,495
Creditors: amounts falling due after more than one year	7	( 57,055)		( 72,673)
Provision for liabilities		( 8,233)		( 8,237)
Net assets		117,444		110,585
Capital and reserves
Called-up share capital	8	10,000		10,000
Profit and loss account		107,444		100,585
Total shareholders' funds		117,444		110,585

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Rex Down Holdings Limited (registered number: 10971767) were approved and authorised for issue by the Board of Directors on 12 June 2026. They were signed on its behalf by:

Rikki Down Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rex Down Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Fisheries Complex Sutton Harbour, Sutton Road, Plymouth, PL4 0LH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings

50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2025	131,205		131,205
At 31 December 2025	131,205		131,205
Accumulated depreciation
At 01 January 2025	17,658		17,658
Charge for the financial year	2,624		2,624
At 31 December 2025	20,282		20,282
Net book value
At 31 December 2025	110,923		110,923
At 31 December 2024	113,547		113,547

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	112,500
As at 31 December 2025	112,500

The 2025 valuations were made by the Directors, on an open market value for existing use basis.

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	10,100		10,100

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2025	Ownership 31.12.2024
Rex Down Wholesale Fish Merchants Limited	Unit 4 Fisheries Complex Sutton Harbour, Sutton Road, Plymouth, Devon, United Kingdom, PL4 0LH	Wholesale of fish	Ordinary	100.00%	100.00%
Rex Down Market Limited	Unit 4 Fisheries Complex Sutton Harbour, Sutton Road, Plymouth, Devon, United Kingdom, PL4 0LH	Wholesale of fish	Ordinary	100.00%	100.00%

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	16,617		12,809
Amounts owed to own subsidiaries	33,132		48,222
Accruals	3,000		3,050
	52,749		64,081

Bank loans relate to a mortgage which is secured, by way of a fixed charge, against the freehold property to which the loan relates.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	57,055		72,673

Bank loans relate to a mortgage which is secured, by way of a fixed charge, against the freehold property to which the loan relates.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured)	17,772		12,809

Bank loans relate to a mortgage which is secured, by way of a fixed charge, against the freehold property to which the loan relates.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each	10,000		10,000

9. Related party transactions

As the company is the parent company of two wholly owned subsidiaries, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.