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REGISTERED NUMBER: 02691127 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

NORTH SHIELDS FISH QUAY COMPANY LIMITED

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTH SHIELDS FISH QUAY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Mr D Clark
Mr A R Horn
Mr. D Hodgson
Mr M G Nugent
Mr T J Reed



SECRETARY: Mr A R Horn



REGISTERED OFFICE: The Market Office
Fish Quay
North Shields
Tyne and Wear
NE30 1JA



REGISTERED NUMBER: 02691127 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: Barclays Bank Plc
3 Northumberland Square
North Shields
Tyne and Wear
NE30 1QX

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,765,091 4,118,387

CURRENT ASSETS
Debtors 5 66,423 75,638
Cash at bank and in hand 4,323 1,906
70,746 77,544
CREDITORS
Amounts falling due within one year 6 17,177 19,028
NET CURRENT ASSETS 53,569 58,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,818,660

4,176,903

CREDITORS
Amounts falling due after more than one
year

7

(9,052

)

(13,114

)

ACCRUALS AND DEFERRED INCOME (3,516,090 ) (3,836,095 )
NET ASSETS 293,518 327,694

CAPITAL AND RESERVES
Called up share capital 9 9
Retained earnings 293,509 327,685
SHAREHOLDERS' FUNDS 293,518 327,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

BALANCE SHEET - continued
31 DECEMBER 2021


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 5 September 2022 and were signed on its behalf by:





Mr A R Horn - Director


NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

North Shields Fish Quay Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced amounts of harbour dues and ice sales. Income is recognised when the goods or services are provided.

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.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - in accordance with the property

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.

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants received in respect of capital expenditure are treated as deferred credits, a proportion of which is transferred to revenue annually over the life of the asset.

Leased assets
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 8,320,170 502,022 8,822,192
Disposals - (21,073 ) (21,073 )
At 31 December 2021 8,320,170 480,949 8,801,119
DEPRECIATION
At 1 January 2021 4,247,267 456,538 4,703,805
Charge for year 339,409 10,523 349,932
Eliminated on disposal - (17,709 ) (17,709 )
At 31 December 2021 4,586,676 449,352 5,036,028
NET BOOK VALUE
At 31 December 2021 3,733,494 31,597 3,765,091
At 31 December 2020 4,072,903 45,484 4,118,387

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

Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 20,387
DEPRECIATION
At 1 January 2021 5,096
Charge for year 3,822
At 31 December 2021 8,918
NET BOOK VALUE
At 31 December 2021 11,469
At 31 December 2020 15,291

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 43,545 34,085
Other debtors 22,878 41,553
66,423 75,638

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts (see note 8) 4,062 3,879
Trade creditors 5,381 8,153
Taxation and social security 2,427 2,793
Other creditors 5,307 4,203
17,177 19,028

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Hire purchase contracts (see note 8) 9,052 13,114

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Gross obligations repayable:
Within one year 4,544 4,544
Between one and five years 9,466 14,010
14,010 18,554

Finance charges repayable:
Within one year 482 665
Between one and five years 414 896
896 1,561

Net obligations repayable:
Within one year 4,062 3,879
Between one and five years 9,052 13,114
13,114 16,993

Non-cancellable operating leases
2021 2020
£    £   
Within one year 1,300 1,300
Between one and five years 2,384 3,684
3,684 4,984

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 13,114 16,993

The hire purchase agreement is secured against the asset to which it relates.

NORTH SHIELDS FISH QUAY COMPANY LIMITED (REGISTERED NUMBER: 02691127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £Nil (2020: £30,000) to the Port of Tyne Authority. The Port of Tyne Authority are the lease holders of the North Shields fish quay.

11. ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors.