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Registration number: 04875657

A Partnership Called Fish Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

A Partnership Called Fish Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

A Partnership Called Fish Limited

Company Information

Director

Mr R Medcalf

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A Partnership Called Fish Limited
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A Partnership Called Fish Limited for the year ended 31 March 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of A Partnership Called Fish Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A Partnership Called Fish Limited and state those matters that we have agreed to state to the Board of Directors of A Partnership Called Fish Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A Partnership Called Fish Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A Partnership Called Fish Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A Partnership Called Fish Limited. You consider that A Partnership Called Fish Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A Partnership Called Fish Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

1 September 2022

 

A Partnership Called Fish Limited

(Registration number: 04875657)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

12,750

17,000

Tangible assets

5

27,972

31,336

 

40,722

48,336

Current assets

 

Stocks

6

9,638

2,629

Debtors

7

23,491

19,437

Cash at bank and in hand

 

125

474

 

33,254

22,540

Creditors: Amounts falling due within one year

8

(33,797)

(20,402)

Net current (liabilities)/assets

 

(543)

2,138

Total assets less current liabilities

 

40,179

50,474

Creditors: Amounts falling due after more than one year

8

(33,707)

(43,420)

Provisions for liabilities

(5,061)

(5,954)

Net assets

 

1,411

1,100

Capital and reserves

 

Called up share capital

90

90

Retained earnings

1,321

1,010

Shareholders' funds

 

1,411

1,100

 

A Partnership Called Fish Limited

(Registration number: 04875657)
Balance Sheet as at 31 March 2022

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 August 2022
 

.........................................

Mr R Medcalf

Director

 

A Partnership Called Fish Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
49 Fore Street
Ivybridge
Devon
PL21 9AE

2

Accounting policies

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

Going concern

The accounts have been prepared on a going concern basis, taking into account the impact on the business caused by the Coronavirus outbreak. To cope with the outbreak the business accessed the relevant emergency government support available to support it through the lockdown, and expects to be in a position to commence normal trading once the peak of the crisis has passed.

As at the year end, the company's balance sheet shows net current liabilities of £543 (2021 net current assets £2,138). Accordingly, the director has had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis, as the director will provide support, when necessary to the company. The director has also reviewed the position for twelve months, from the date the accounts were approved and in his opinion, the company will reduce the net current liabilities and show positive results for the next financial period

Government grants

Government grants received in respect of CJRS are credited to the trading results as other operating income, in the period which the related expenditure has been included.

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 provided on tangible fixed assets so as to write off the cost of valuation, less any estimated residual value, over their expected useful economic life as follows:

 

A Partnership Called Fish Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

Straight line 5%

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2021 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

85,000

85,000

At 31 March 2022

85,000

85,000

Amortisation

At 1 April 2021

68,000

68,000

Amortisation charge

4,250

4,250

At 31 March 2022

72,250

72,250

Carrying amount

At 31 March 2022

12,750

12,750

At 31 March 2021

17,000

17,000

 

A Partnership Called Fish Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

5

Tangible assets

Plant and equipment
£

Total
£

Cost or valuation

At 1 April 2021

90,263

90,263

Additions

1,780

1,780

At 31 March 2022

92,043

92,043

Depreciation

At 1 April 2021

58,927

58,927

Charge for the year

5,144

5,144

At 31 March 2022

64,071

64,071

Carrying amount

At 31 March 2022

27,972

27,972

At 31 March 2021

31,336

31,336

6

Stocks

2022
£

2021
£

Stock

9,638

2,629

7

Debtors

2022
£

2021
£

Prepayments

7,848

5,329

Other debtors

15,643

14,108

23,491

19,437

 

A Partnership Called Fish Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Bank loans and overdrafts

7,749

4,497

Trade creditors

14,054

4,714

Taxation and social security

1,342

4,509

Accruals and deferred income

2,100

1,795

Other creditors

8,552

4,887

33,797

20,402

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

33,707

43,420

 

A Partnership Called Fish Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

33,707

43,420

2022
£

2021
£

Current loans and borrowings

Bank borrowings

5,880

-

Bank overdrafts

1,869

4,497

7,749

4,497

10

Related party transactions

During the year a total of £34,825 was advanced to the director by the company. Thisc amount was partly repaid during the year and at the year end the amount owed to the company was £10,611. Interest was charged on a monthly basis at the HMRC standard rate and interest charged during the year, totalled £148, and the loan is repayable on demand.