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REGISTERED NUMBER: 02691127 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022




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 2022







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 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,227,635 3,765,091

CURRENT ASSETS
Debtors 5 356,504 66,423
Cash at bank and in hand 257,437 4,323
613,941 70,746
CREDITORS
Amounts falling due within one year 6 46,520 17,177
NET CURRENT ASSETS 567,421 53,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,795,056

3,818,660

CREDITORS
Amounts falling due after more than one
year

7

(4,806

)

(9,052

)

ACCRUALS AND DEFERRED INCOME (6,546,081 ) (3,516,090 )
NET ASSETS 244,169 293,518

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

BALANCE SHEET - continued
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 9
Retained earnings 244,160 293,509
SHAREHOLDERS' FUNDS 244,169 293,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 25 October 2023 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 2022

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, rounded to the nearest Pound (£).

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.


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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
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.

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 (2021 - 7 ) .

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 8,320,170 480,949 8,801,119
Additions 2,809,846 - 2,809,846
At 31 December 2022 11,130,016 480,949 11,610,965
DEPRECIATION
At 1 January 2022 4,586,676 449,352 5,036,028
Charge for year 339,408 7,894 347,302
At 31 December 2022 4,926,084 457,246 5,383,330
NET BOOK VALUE
At 31 December 2022 6,203,932 23,703 6,227,635
At 31 December 2021 3,733,494 31,597 3,765,091

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

Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 20,387
DEPRECIATION
At 1 January 2022 8,918
Charge for year 2,867
At 31 December 2022 11,785
NET BOOK VALUE
At 31 December 2022 8,602
At 31 December 2021 11,469

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 68,300 43,545
Other debtors 288,204 22,878
356,504 66,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 13,018 -
Hire purchase contracts (see note 8) 4,246 4,062
Trade creditors 18,515 5,381
Taxation and social security 5,798 2,427
Other creditors 4,943 5,307
46,520 17,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 8) 4,806 9,052

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Gross obligations repayable:
Within one year 4,544 4,544
Between one and five years 4,922 9,466
9,466 14,010

Finance charges repayable:
Within one year 298 482
Between one and five years 116 414
414 896

Net obligations repayable:
Within one year 4,246 4,062
Between one and five years 4,806 9,052
9,052 13,114

Non-cancellable operating leases
2022 2021
£    £   
Within one year 2,128 1,300
Between one and five years 4,395 2,384
In more than five years 552 -
7,075 3,684

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 9,052 13,114

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

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £30,000 (2021: £Nil) 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.