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REGISTERED NUMBER: 08250598 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

LONDON'S FISH SHOP LTD

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LONDON'S FISH SHOP LTD

COMPANY INFORMATION
For The Year Ended 31 OCTOBER 2022







DIRECTOR: O Aziz





REGISTERED OFFICE: London County Hall
Riverside Building
Westminster Bridge Road
London
SE1 7PB





REGISTERED NUMBER: 08250598 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,163 1,744
Property, plant and equipment 5 706,461 798,901
707,624 800,645

CURRENT ASSETS
Inventories 99,200 114,298
Debtors 6 918,013 640,764
Cash at bank and in hand 160,642 155,724
1,177,855 910,786
CREDITORS
Amounts falling due within one year 7 931,840 899,984
NET CURRENT ASSETS 246,015 10,802
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,639

811,447

CREDITORS
Amounts falling due after more than one
year

8

429,396

758,719
NET ASSETS 524,243 52,728

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 524,242 52,727
SHAREHOLDERS' FUNDS 524,243 52,728

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 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 director and authorised for issue on 26 October 2023 and were signed by:





O Aziz - Director


LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2022

1. STATUTORY INFORMATION

London's Fish Shop Ltd 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 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the assets or liabilities affected in future periods.

The Company's management believes that judgements, estimates and assumptions used in the preparation of the financial statements are appropriate given the factual circumstances as at 31 October 2018.

Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other assessments. In particular, the Company has identified the following accounting policies which, due to the judgements, estimates and assumptions inherent in those policies, and the sensitivity of the financial statements to those judgements, estimates and assumptions, are critical to an understanding of the financial statements.

i) Assets impairment
The Company reviews on an annual basis the carrying amounts of investments, tangible assets and intangible assets, in order to determine if there is an indication of impairment. If any such indication exists an impairment review is carried out in order to determine the extent of the impairment loss.

ii) Useful lives of depreciable tangible and intangible assets
The management assesses the estimated useful lives and related depreciation & amortisation charges for purchased and internally generated intangible assets and tangible assets and reviews the assessment at regular intervals. Management estimates are based on the projected operating life cycle of these assets. Such estimates are not expected to change significantly, however, management may modify depreciation and amortisation rates wherever useful lives turn out to be different than previously estimated and writes down or writes off assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable for goods supplied net of Value Added Tax. Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Leasehold properties Straight line over the life of the lease
Plant & machinery20% on Reducing Balance
Fixtures fittings and equipment 20% on Reducing Balance
Motor vehicles20% on Reducing Balance
Computer equipment33% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at lower of cost, using first in first out method, and estimated selling prices less cost to complete and sell. Cost includes all cost of purchases, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2021 - 21 ) .

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2021
and 31 October 2022 2,906
AMORTISATION
At 1 November 2021 1,162
Charge for year 581
At 31 October 2022 1,743
NET BOOK VALUE
At 31 October 2022 1,163
At 31 October 2021 1,744

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2021 1,100,000 2,016 563,040
Additions - 10,873 16,113
Disposals - - (4,800 )
At 31 October 2022 1,100,000 12,889 574,353
DEPRECIATION
At 1 November 2021 475,200 726 417,906
Charge for year 59,400 2,432 32,249
Eliminated on disposal - - -
At 31 October 2022 534,600 3,158 450,155
NET BOOK VALUE
At 31 October 2022 565,400 9,731 124,198
At 31 October 2021 624,800 1,290 145,134

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2021 28,000 23,658 1,716,714
Additions - 940 27,926
Disposals (28,000 ) - (32,800 )
At 31 October 2022 - 24,598 1,711,840
DEPRECIATION
At 1 November 2021 10,080 13,901 917,813
Charge for year - 3,565 97,646
Eliminated on disposal (10,080 ) - (10,080 )
At 31 October 2022 - 17,466 1,005,379
NET BOOK VALUE
At 31 October 2022 - 7,132 706,461
At 31 October 2021 17,920 9,757 798,901

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,472 30,068
Other debtors 914,541 610,696
918,013 640,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 329,891 309,901
Hire purchase contracts - 3,598
Trade creditors 77,073 72,867
Taxation and social security 516,932 421,154
Other creditors 7,944 92,464
931,840 899,984

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 429,396 754,911
Hire purchase contracts - 3,808
429,396 758,719

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loan 183,645 287,547

The bank loan is secured by a fixed and floating charge over the company's lease hold property and by a fixed and floating charge over the company's assets.

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2022

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

2022 2021
£    £   
O Aziz
Balance outstanding at start of year 152,275 142,022
Amounts advanced 251,487 38,613
Amounts repaid (18,049 ) (28,360 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 385,713 152,275

During the year interest of £4,707 (2021: £3,822) was charged at the official interest on overdrawn amounts.