Chapman's of Sevenoaks Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 12

Chapman's of Sevenoaks Limited

Balance Sheet

30 November 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	214,895	-
Tangible assets	5	75,777	73,667
Investments	6	1,100	1,100
		291,772	74,767
Current assets
Stocks		120,023	36,749
Debtors	7	920,014	876,812
Cash at bank and in hand		19,040	13,581
		1,059,077	927,142
Creditors: Amounts falling due within one year	8	(2,777,975)	(1,686,437)
Net current liabilities		(1,718,898)	(759,295)
Total assets less current liabilities		(1,427,126)	(684,528)
Creditors: Amounts falling due after more than one year	8	-	(62,500)
Provisions for liabilities		(14,981)	(11,707)
Net liabilities		(1,442,107)	(758,735)
Capital and reserves
Called up share capital	10	45,000	45,000
Share premium reserve		86,360	86,360
Profit and loss account		(1,573,467)	(890,095)
Shareholders' deficit		(1,442,107)	(758,735)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 August 2026 and signed on its behalf by:
 

......................................... L G Genge Director

Company Registration Number: 03438466

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2a/2b Victoria Business Park
Roche
St. Austell
Cornwall
PL26 8LX
United Kingdom

The principal place of business is:
Units 5 & 6
Hornet Business Estate
Quarry Hill Road
Sevenoaks
Kent
TN15 8QW
United Kingdom

These financial statements were authorised for issue by the Board on 28 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The financial statements contain information about Chapman's of Sevenoaks Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its smallest parent company, Ocean Fish Group Limited, a company incorporated in England.

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

Going concern

The Company incurred a loss of £683,372 (2024 - £894,358) during the period ended 30 November 2025 and, as at that date, had net liabilities of £1,442,107 (2024 - £758,735).

The Directors have considered the ongoing effect of cost of living, the USA-Iran conflict in the Middle East and supply chain disruption and anticipates an ability to continue trading successfully. The Company is well diversified across its sales and supply channels and has successfully weathered the challenges that previous geo-political events, such as Brexit, posed. The Directors continue to explore opportunities across the sector and monitor developments in a rapidly changing business environment.

The Directors have reviewed the Company's current stock holdings, working capital and future trading ability, and as a result anticipate that the business will be able to continue successfully. The business now benefits from being part of the Ocean Fish Group and as such the Directors consider it appropriate for the financial statements to be prepared on a going concern basis.

Key sources of estimation uncertainty

The preparation of the financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are
set out below:

i. Impairment of tangible and intangible assets
At each reporting date, management reviews the carrying amount of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

ii. Depreciation period for fixed assets
Depreciation is estimated, based upon the estimated useful economic life and residual value of assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Finance income and costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buuildings	11.3% straight line
Furniture, fittings and equipment	25% reducing balance
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance

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,

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Other intangibles	10% straight line
Goodwill	5% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 35 (2024 - 36).

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

4	Intangible assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 November 2024	21,590	-	21,590
Additions	-	214,895	214,895
At 30 November 2025	21,590	214,895	236,485
Amortisation
At 1 November 2024	21,590	-	21,590
At 30 November 2025	21,590	-	21,590
Carrying amount
At 30 November 2025	-	214,895	214,895
At 31 October 2024	-	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 November 2024	456,743	181,500	30,600	219,309	888,152
Additions	7,268	23,741	-	3,466	34,475
At 30 November 2025	464,011	205,241	30,600	222,775	922,627
Depreciation
At 1 November 2024	448,125	152,176	21,990	192,194	814,485
Charge for the period	9,282	13,276	2,153	7,654	32,365
At 30 November 2025	457,407	165,452	24,143	199,848	846,850
Carrying amount
At 30 November 2025	6,604	39,789	6,457	22,927	75,777
At 31 October 2024	8,618	29,324	8,610	27,115	73,667

Included within the net book value of land and buildings above is £6,604 (2024 - £8,618) in respect of short leasehold land and buildings.
 

Chapman's of Sevenoaks Limited

Notes to the Financial Statements

Period from 1 November 2024 to 30 November 2025

6	Investments

	2025 £	2024 £
Investments in subsidiaries	1,100	1,100