Whitby Seafish Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05001274 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Whitby Seafish Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M L N Asquith

REGISTERED OFFICE:

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

BUSINESS ADDRESS:

Unit 1a

Whitegate Close

Staithes

SALTBURN BY THE SEA

Cleveland

TS13 5BB

REGISTERED NUMBER:

05001274 (England and Wales)

ACCOUNTANTS:

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

25,071

26,329

25,071

26,329

CURRENT ASSETS

Stocks

2,800

2,800

Debtors

6

24,798

33,533

Cash at bank and in hand

8,137

4,014

35,735

40,347

CREDITORS

Amounts falling due within one year

7

26,607

26,800

NET CURRENT ASSETS

9,128

13,547

TOTAL ASSETS LESS CURRENT LIABILITIES

34,199

39,876

PROVISIONS FOR LIABILITIES

4,763

5,245

NET ASSETS

29,436

34,631

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

29,434

34,629

SHAREHOLDERS' FUNDS

29,436

34,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 January 2019 and were signed by:

Mr M L N Asquith - Director

1.	STATUTORY INFORMATION

Whitby Seafish 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 2004, 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

5,000

AMORTISATION

At 1 May 2017

and 30 April 2018

5,000

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2017

59,705

33,278

92,983

Additions

4,518

-

4,518

At 30 April 2018

64,223

33,278

97,501

DEPRECIATION

At 1 May 2017

40,386

26,268

66,654

Charge for year

4,024

1,752

5,776

At 30 April 2018

44,410

28,020

72,430

NET BOOK VALUE

At 30 April 2018

19,813

5,258

25,071

At 30 April 2017

19,319

7,010

26,329

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2017

15,995

Transfer to ownership

(15,995

)

At 30 April 2018

-

DEPRECIATION

At 1 May 2017

10,934

Transfer to ownership

(10,934

)

At 30 April 2018

-

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

5,061

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

24,603

23,931

Other debtors

195

9,602

24,798

33,533

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

-

1,895

Trade creditors

8,266

10,596

Taxation and social security

7,429

9,644

Other creditors

10,912

4,665

26,607

26,800

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2018 and

30 April 2017:

30.4.18

30.4.17

£

£

Mr M L N Asquith

Balance outstanding at start of year

9,013

9,533

Amounts advanced

-

43,789

Amounts repaid

(9,013

)

(44,309

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

9,013