Registered number
SC668531
C Sinclair Fish Ltd
Filleted Accounts
31 July 2023
C Sinclair Fish Ltd
Registered number: SC668531
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,448 37,365
Current assets
Stocks 5,500 5,500
Cash at bank and in hand 24,280 18,144
29,780 23,644
Creditors: amounts falling due within one year 4 (21,902) (14,333)
Net current assets 7,878 9,311
Total assets less current liabilities 37,326 46,676
Creditors: amounts falling due after more than one year 5 (20,256) (35,434)
Net assets 17,070 11,242
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,970 11,142
Shareholder's funds 17,070 11,242
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Sinclair
Director
Approved by the board on 6 March 2024
C Sinclair Fish Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goodsand is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% by reducing balance basis
Fixtures, fittings, tools and equipment 25% by reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried forwards to future years.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 38,758 14,208 52,966
At 31 July 2023 38,758 14,208 52,966
Depreciation
At 1 August 2022 10,273 5,328 15,601
Charge for the year 5,697 2,220 7,917
At 31 July 2023 15,970 7,548 23,518
Net book value
At 31 July 2023 22,788 6,660 29,448
At 31 July 2022 28,485 8,880 37,365
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 160 3,240
Taxation and social security costs 19,843 10,143
Other creditors 1,899 950
21,902 14,333
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 20,256 35,434
6 Other information
C Sinclair Fish Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No 1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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