Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs Charlene Clark 24/07/2013 Mr Michael Clark 25/11/2002 06 November 2023 The principal activity of the Company during the financial year continued to be the supply of take away food. SC239988 2023-03-31 SC239988 bus:Director1 2023-03-31 SC239988 bus:Director2 2023-03-31 SC239988 2022-03-31 SC239988 core:CurrentFinancialInstruments 2023-03-31 SC239988 core:CurrentFinancialInstruments 2022-03-31 SC239988 core:Non-currentFinancialInstruments 2023-03-31 SC239988 core:Non-currentFinancialInstruments 2022-03-31 SC239988 core:ShareCapital 2023-03-31 SC239988 core:ShareCapital 2022-03-31 SC239988 core:RevaluationReserve 2023-03-31 SC239988 core:RevaluationReserve 2022-03-31 SC239988 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC239988 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC239988 core:Goodwill 2022-03-31 SC239988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 SC239988 core:Goodwill 2023-03-31 SC239988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 SC239988 core:LandBuildings 2022-03-31 SC239988 core:OtherPropertyPlantEquipment 2022-03-31 SC239988 core:LandBuildings 2023-03-31 SC239988 core:OtherPropertyPlantEquipment 2023-03-31 SC239988 2021-03-31 SC239988 bus:OrdinaryShareClass1 2023-03-31 SC239988 2022-04-01 2023-03-31 SC239988 bus:FullAccounts 2022-04-01 2023-03-31 SC239988 bus:SmallEntities 2022-04-01 2023-03-31 SC239988 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC239988 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC239988 bus:Director1 2022-04-01 2023-03-31 SC239988 bus:Director2 2022-04-01 2023-03-31 SC239988 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 SC239988 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2022-04-01 2023-03-31 SC239988 core:Goodwill 2022-04-01 2023-03-31 SC239988 core:OtherResidualIntangibleAssets 2022-04-01 2023-03-31 SC239988 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC239988 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC239988 2021-04-01 2022-03-31 SC239988 core:LandBuildings 2022-04-01 2023-03-31 SC239988 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC239988 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC239988 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC239988 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC239988 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC239988 (Scotland)

THE FISH & CHIP CO LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

THE FISH & CHIP CO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

THE FISH & CHIP CO LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
THE FISH & CHIP CO LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 26,720 61,346
Investment property 5 264,527 227,438
291,247 288,784
Current assets
Stocks 6 4,997 4,759
Debtors 7 1,743 2,201
Cash at bank and in hand 8 307,492 210,059
314,232 217,019
Creditors: amounts falling due within one year 9 ( 152,857) ( 98,878)
Net current assets 161,375 118,141
Total assets less current liabilities 452,622 406,925
Creditors: amounts falling due after more than one year 10 0 ( 30,619)
Provision for liabilities 11, 12 ( 12,164) ( 11,397)
Net assets 440,458 364,909
Capital and reserves
Called-up share capital 13 2 2
Revaluation reserve 27,817 0
Profit and loss account 412,639 364,907
Total shareholders' funds 440,458 364,909

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Fish & Chip Co Limited (registered number: SC239988) were approved and authorised for issue by the Director on 06 November 2023. They were signed on its behalf by:

Mr Michael Clark
Director
THE FISH & CHIP CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
THE FISH & CHIP CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Fish & Chip Co Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 - 4 St Leonard's Bridge, Perth, PH2 0DR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is
required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable for the sale of take-away food net of VAT and trade discounts.

Revenue is recognised on a cash basis.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services
are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability issettled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Development costs 10 years straight line
Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Other intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition if the fair value can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Tangible fixed assets

Tangible fixed assets are measured at cost and subsequently measured at cost or valuation, net of depreciation .

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 4 years straight line
Plant and machinery etc. 4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rentals receivable under operating leases are charged against income on a straight line basis over the lease term.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure . Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs .

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price .

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 11

3. Intangible assets

Goodwill Development costs Total
£ £ £
Cost
At 01 April 2022 61,444 30,000 91,444
At 31 March 2023 61,444 30,000 91,444
Accumulated amortisation
At 01 April 2022 61,444 30,000 91,444
At 31 March 2023 61,444 30,000 91,444
Net book value
At 31 March 2023 0 0 0
At 31 March 2022 0 0 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2022 14,306 171,262 185,568
Additions 0 9,904 9,904
Disposals 0 ( 35,650) ( 35,650)
At 31 March 2023 14,306 145,516 159,822
Accumulated depreciation
At 01 April 2022 12,138 112,084 124,222
Charge for the financial year 275 19,746 20,021
Disposals 0 ( 11,141) ( 11,141)
At 31 March 2023 12,413 120,689 133,102
Net book value
At 31 March 2023 1,893 24,827 26,720
At 31 March 2022 2,168 59,178 61,346

5. Investment property

Investment property
£
Valuation
As at 01 April 2022 227,438
Fair value movement 37,089
As at 31 March 2023 264,527

Valuation

The fair value of the investment property is on the basis of a valuation carried out by the directors on 31 March 2023.

6. Stocks

2023 2022
£ £
Stocks 4,997 4,759

7. Debtors

2023 2022
£ £
Other debtors 1,743 2,201

8. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 307,492 210,059

9. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 3,611
Taxation and social security 57,930 25,121
Obligations under finance leases and hire purchase contracts (secured) 0 5,683
Other creditors 94,927 64,463
152,857 98,878

Hire purchase obligations under finance leases are secured over the assets to which they relate.

10. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 0 30,619

Hire purchase obligations under finance leases are secured over the assets to which they relate.

11. Provision for liabilities

2023 2022
£ £
Deferred tax 12,164 11,397

12. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 11,397) ( 1,014)
Charged to the Profit and Loss Account ( 767) ( 10,383)
At the end of financial year ( 12,164) ( 11,397)

13. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2