Nishikoi Aquaculture Limited 02594828 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is in the year under review that of the distribution of Koi carp food, water treatments and other fish products. Digita Accounts Production Advanced 6.30.9574.0 true 02594828 2023-01-01 2023-12-31 02594828 2023-12-31 02594828 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-12-31 02594828 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-12-31 02594828 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-12-31 02594828 bus:OtherShareClass1 bus:OtherShareType 2023-12-31 02594828 core:CapitalRedemptionReserve 2023-12-31 02594828 core:RetainedEarningsAccumulatedLosses 2023-12-31 02594828 core:ShareCapital 2023-12-31 02594828 core:CurrentFinancialInstruments 2023-12-31 02594828 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02594828 core:Goodwill 2023-12-31 02594828 core:FurnitureFittingsToolsEquipment 2023-12-31 02594828 core:LandBuildings 2023-12-31 02594828 core:MotorVehicles 2023-12-31 02594828 core:OtherPropertyPlantEquipment 2023-12-31 02594828 bus:SmallEntities 2023-01-01 2023-12-31 02594828 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02594828 bus:FullAccounts 2023-01-01 2023-12-31 02594828 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02594828 bus:RegisteredOffice 2023-01-01 2023-12-31 02594828 bus:Director1 2023-01-01 2023-12-31 02594828 bus:Director3 2023-01-01 2023-12-31 02594828 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-01-01 2023-12-31 02594828 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-01-01 2023-12-31 02594828 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-01-01 2023-12-31 02594828 bus:OtherShareClass1 bus:OtherShareType 2023-01-01 2023-12-31 02594828 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02594828 bus:Agent1 2023-01-01 2023-12-31 02594828 core:Goodwill 2023-01-01 2023-12-31 02594828 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02594828 core:LandBuildings 2023-01-01 2023-12-31 02594828 core:LeaseholdImprovements 2023-01-01 2023-12-31 02594828 core:MotorCars 2023-01-01 2023-12-31 02594828 core:MotorVehicles 2023-01-01 2023-12-31 02594828 core:OfficeEquipment 2023-01-01 2023-12-31 02594828 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 02594828 core:PlantMachinery 2023-01-01 2023-12-31 02594828 4 2023-01-01 2023-12-31 02594828 countries:EnglandWales 2023-01-01 2023-12-31 02594828 2022-12-31 02594828 core:Goodwill 2022-12-31 02594828 core:FurnitureFittingsToolsEquipment 2022-12-31 02594828 core:LandBuildings 2022-12-31 02594828 core:MotorVehicles 2022-12-31 02594828 core:OtherPropertyPlantEquipment 2022-12-31 02594828 2022-01-01 2022-12-31 02594828 2022-12-31 02594828 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2022-12-31 02594828 bus:OrdinaryShareClass2 bus:CumulativeShares 2022-12-31 02594828 bus:OrdinaryShareClass3 bus:CumulativeShares 2022-12-31 02594828 bus:OtherShareClass1 bus:OtherShareType 2022-12-31 02594828 core:CapitalRedemptionReserve 2022-12-31 02594828 core:RetainedEarningsAccumulatedLosses 2022-12-31 02594828 core:ShareCapital 2022-12-31 02594828 core:CurrentFinancialInstruments 2022-12-31 02594828 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02594828 core:FurnitureFittingsToolsEquipment 2022-12-31 02594828 core:LandBuildings 2022-12-31 02594828 core:MotorVehicles 2022-12-31 02594828 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02594828

Nishikoi Aquaculture Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Nishikoi Aquaculture Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Nishikoi Aquaculture Limited

Company Information

Directors

J H Finbow

J Finbow

Registered office

Unit 3
Toppesfield Road
Wethersfield
Essex
CM7 4EP

Bankers

National Westminster
NatWest House
100 The Crescent
Colchester Business Park
Colchester
Essex
CO4 4YQ

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Nishikoi Aquaculture Limited

(Registration number: 02594828)
Balance Sheet as at 31 December 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

5

30,981

40,486

Current assets

 

Stocks

6

312,008

440,781

Debtors

7

17,634

46,095

Cash at bank and in hand

 

454,669

49,616

 

784,311

536,492

Creditors: Amounts falling due within one year

8

(347,464)

(223,401)

Net current assets

 

436,847

313,091

Total assets less current liabilities

 

467,828

353,577

Provisions for liabilities

(5,776)

(7,698)

Net assets

 

462,052

345,879

Capital and reserves

 

Called up share capital

9

2,502

2,502

Capital redemption reserve

2,500

2,500

Retained earnings

457,050

340,877

Shareholders' funds

 

462,052

345,879

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

J H Finbow
Director

J Finbow
Director

 
     
 

Nishikoi Aquaculture Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is Unit 3, Toppesfield Road, Wethersfield, Essex, CM7 4EP

These financial statements were authorised for issue by the Board on 11 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Reclassification of comparative amounts

During the year it was identified that the share capital brought forward was incorrect and has been adjusted to account for an issue of shares in the prior year. There has been no affect on the profit.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale and distribution of fish food and related products in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are assistance by government in the form of a transfer of resources to an entity in return for past or future compliance with specified conditions relating to the operating activities of the entity. Grants are recognised in the profit and loss account at the date they are received, under the performance model.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Nishikoi Aquaculture Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

25% reducing balance method

Plant and machinery

25% reducing balance method

Office equipment

25% reducing balance method

Motor vehicles

25% reducing balance method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Stock consists of raw materials and finished goods.

Raw materials are valued at the lower of purchase price and net realisable value.

Finished goods are valued at the lower of purchase price and net realisable value based on the components that make up the product, no adjustment is made for labour or overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

 

Nishikoi Aquaculture Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 7 (2022 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

455,785

455,785

At 31 December 2023

455,785

455,785

Amortisation

At 1 January 2023

455,785

455,785

At 31 December 2023

455,785

455,785

Carrying amount

At 31 December 2023

-

-

 

Nishikoi Aquaculture Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Land and buildings
£

Office equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2023

121,742

25,433

12,167

198,041

357,383

Additions

-

-

1,500

-

1,500

Disposals

-

(5,857)

-

-

(5,857)

At 31 December 2023

121,742

19,576

13,667

198,041

353,026

Depreciation

At 1 January 2023

99,677

17,546

9,339

190,335

316,897

Charge for the year

5,516

1,971

988

1,926

10,401

Eliminated on disposal

-

(5,253)

-

-

(5,253)

At 31 December 2023

105,193

14,264

10,327

192,261

322,045

Carrying amount

At 31 December 2023

16,549

5,312

3,340

5,780

30,981

At 31 December 2022

22,065

7,887

2,828

7,706

40,486

6

Stocks

2023
£

2022
£

Stocks

312,008

440,781

7

Debtors

2023
£

(As restated)

2022
£

Trade debtors

12,322

43,710

Other debtors

5,312

77

Prepayments and accrued income

-

2,308

17,634

46,095

 

Nishikoi Aquaculture Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

51,335

40,443

Taxation and social security

53,228

14,151

Other creditors

238,731

166,191

Accruals and deferred income

4,170

2,616

347,464

223,401

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

-

-

2,500

2,500

A Ordinary Shares of £1 each

2,499

2,499

-

-

B Ordinary Shares of £1 each

1

1

-

-

Redeemable shares of £1 each

2

2

2

2

 

2,502

2,502

2,502

2,502

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £10,773 (2022 - £15,561). This amount is in respect of operating leases.