Registered number
11921103
Mermaid Fish and Chips Ltd
Unaudited Filleted Accounts
30 April 2022
Mermaid Fish and Chips Ltd
Registered number: 11921103
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 64,211 97,332
Current assets
Stocks 2,327 750
Debtors 4 - 965
Cash at bank and in hand 12,832 16,836
15,159 18,551
Creditors: amounts falling due within one year 5 (41,446) (19,981)
Net current liabilities (26,287) (1,430)
Total assets less current liabilities 37,924 95,902
Creditors: amounts falling due after more than one year 6 (185,228) (230,467)
Net liabilities (147,304) (134,565)
Capital and reserves
Called up share capital 1 1
Profit and loss account (147,305) (134,566)
Shareholder's funds (147,304) (134,565)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Dodson
Director
Approved by the board on 8 September 2022
Mermaid Fish and Chips Ltd
Notes to the Accounts
for the year ended 30 April 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 and 5 years
Fixtures, fittings, tools and equipment over 4 and 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 10 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2021 52,890 110,570 163,460
At 30 April 2022 52,890 110,570 163,460
Depreciation
At 1 May 2021 21,156 44,972 66,128
Charge for the year 10,578 22,543 33,121
At 30 April 2022 31,734 67,515 99,249
Net book value
At 30 April 2022 21,156 43,055 64,211
At 30 April 2021 31,734 65,598 97,332
4 Debtors 2022 2021
£ £
Other debtors - 965
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 10,000 -
Trade creditors 21,341 19,452
Taxation and social security costs 8,884 529
Other creditors 1,221 -
41,446 19,981
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 35,687 50,000
Other creditors 149,541 180,467
185,228 230,467
7 Related party transactions
Included in other creditors are amounts owed to directors of £149,541 (2021:£180,467).
8 Controlling party
The company is controlled by Mr S Dodson.
9 Other information
Mermaid Fish and Chips Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland Common
Barnsley
S74 0PB
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