REGISTERED NUMBER: 06643054 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Cornish Bay Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Colam

A C Pillar

L G Colam

SECRETARY:

Mrs R A Colam

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

M3 2PJ

BUSINESS ADDRESS:

Wallsend Industrial Estate

Cattedown Road

Cattedown

Plymouth

Devon

PL4 0RW

REGISTERED NUMBER:

06643054 (England and Wales)

AUDITORS:

Freedman Frankl & Taylor

Statutory Auditors

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

1,429,366

1,620,159

CURRENT ASSETS

Stocks

8,368

8,368

Debtors

5

56,368

71,538

Cash at bank

2,758

19,373

67,494

99,279

CREDITORS

Amounts falling due within one year

6

(40,326

)

(40,122

)

NET CURRENT ASSETS

27,168

59,157

TOTAL ASSETS LESS CURRENT LIABILITIES

1,456,534

1,679,316

CREDITORS

Amounts falling due after more than one year

7

(965,447

)

(1,218,984

)

PROVISIONS FOR LIABILITIES

(319,713

)

(346,804

)

NET ASSETS

171,374

113,528

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

171,373

113,527

SHAREHOLDERS' FUNDS

171,374

113,528

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 16 September 2026 and were signed on its behalf by:

J J Colam - Director

1.	STATUTORY INFORMATION

Cornish Bay Limited is a private company, limited by shares , registered in England and Wales. 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 represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Boats

-

5% on cost

Plant and machinery

-

10% on cost

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The company is reliant on the financial support of its parent undertaking Interfish Limited who have indicated their support of the company for the foreseeable future.

On this basis, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and thus has adopted the going concern basis of accounting in preparing the annual financial statements.

Government grants

Grants received are credited to the profit and loss account as the related expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Boats

machinery

Totals

£

£

£

COST

At 1 January 2025

2,541,691

232,088

2,773,779

Disposals

(90,000

)

-

(90,000

)

At 31 December 2025

2,451,691

232,088

2,683,779

DEPRECIATION

At 1 January 2025

1,119,771

33,849

1,153,620

Charge for year

122,584

23,209

145,793

Eliminated on disposal

(45,000

)

-

(45,000

)

At 31 December 2025

1,197,355

57,058

1,254,413

NET BOOK VALUE

At 31 December 2025

1,254,336

175,030

1,429,366

At 31 December 2024

1,421,920

198,239

1,620,159

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

25,755

61,291

Other debtors

30,613

10,247

56,368

71,538

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25,157

2,972

Amounts owed to group undertakings

4,177

5,105

Other creditors

10,992

32,045

40,326

40,122

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

935,080

1,183,258

Other creditors

30,367

35,726

965,447

1,218,984

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

I Sluckis BA FCA (Senior Statutory Auditor)

for and on behalf of Freedman Frankl & Taylor

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The company's parent undertaking at the balance sheet date was Interfish Limited, a company incorporated and registered in England.

The company's ultimate parent undertaking at the balance sheet date was Interfish Holdings Limited, a company incorporated and registered in Guernsey but tax resident in England so that all income is taxed and paid in the United Kingdom.

Copies of the financial statements of Interfish Limited can be obtained from Wallsend Industrial Estate, Cattedown Road, Plymouth, Devon PL4 0RW.