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Company No: 03394328 (England and Wales)

HARLEES FISH AND CHIPS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

HARLEES FISH AND CHIPS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

HARLEES FISH AND CHIPS LIMITED

BALANCE SHEET

As at 31 July 2023
HARLEES FISH AND CHIPS LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 91,134 170,139
Tangible assets 4 1,508,582 1,190,974
1,599,716 1,361,113
Current assets
Stocks 5 126,447 122,444
Debtors 6 120,369 126,399
Cash at bank and in hand 254,131 277,138
500,947 525,981
Creditors: amounts falling due within one year 7 ( 553,911) ( 496,249)
Net current (liabilities)/assets (52,964) 29,732
Total assets less current liabilities 1,546,752 1,390,845
Creditors: amounts falling due after more than one year 8 ( 553,650) ( 364,974)
Provision for liabilities ( 195,912) ( 147,100)
Net assets 797,190 878,771
Capital and reserves
Called-up share capital 2 2
Profit and loss account 797,188 878,769
Total shareholders' funds 797,190 878,771

For the financial year ending 31 July 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 Harlees Fish and Chips Limited (registered number: 03394328) were approved and authorised for issue by the Board of Directors on 04 April 2024. They were signed on its behalf by:

Richard Derek Long
Director
HARLEES FISH AND CHIPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
HARLEES FISH AND CHIPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Harlees Fish and Chips Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 159 Wareham Road, Corfe Mullen, Wimborne, BH21 3LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 5 years straight line
Other intangible assets 10 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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. Provision is made for obsolete, slow-moving or defective items where appropriate.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 105 94

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 August 2022 575,500 6,930 582,430
At 31 July 2023 575,500 6,930 582,430
Accumulated amortisation
At 01 August 2022 411,643 648 412,291
Charge for the financial year 78,357 648 79,005
At 31 July 2023 490,000 1,296 491,296
Net book value
At 31 July 2023 85,500 5,634 91,134
At 31 July 2022 163,857 6,282 170,139

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2022 775,177 1,762,610 2,537,787
Additions 18,211 479,967 498,178
At 31 July 2023 793,388 2,242,577 3,035,965
Accumulated depreciation
At 01 August 2022 400,104 946,709 1,346,813
Charge for the financial year 28,125 152,445 180,570
At 31 July 2023 428,229 1,099,154 1,527,383
Net book value
At 31 July 2023 365,159 1,143,423 1,508,582
At 31 July 2022 375,073 815,901 1,190,974

5. Stocks

2023 2022
£ £
Stocks 126,447 122,444

6. Debtors

2023 2022
£ £
Corporation tax 14,046 0
Other debtors 106,323 126,399
120,369 126,399

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 54,756 44,392
Trade creditors 167,797 114,709
Taxation and social security 204,110 218,621
Obligations under finance leases and hire purchase contracts (secured) 43,410 31,347
Other creditors 83,838 87,180
553,911 496,249

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

2023 2022
£ £
Bank loans (secured) 507,402 312,422
Obligations under finance leases and hire purchase contracts (secured) 46,248 52,552
553,650 364,974

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (secured / repayable by instalments) 192,159 167,551