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Company No: 06470369 (England and Wales)

RIVERFIELD FISH FARM LIMITED

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

RIVERFIELD FISH FARM LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

RIVERFIELD FISH FARM LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
RIVERFIELD FISH FARM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mrs S D Hughes
Mr S D Hughes
SECRETARY Mrs S D Hughes
REGISTERED OFFICE Camburgh House
27 New Dover
Road
Canterbury
Kent
CT1 3DN
United Kingdom
COMPANY NUMBER 06470369 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
RIVERFIELD FISH FARM LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
RIVERFIELD FISH FARM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 236,524 297,460
236,524 297,460
Current assets
Stocks 30,000 30,000
Debtors 5 642,743 616,697
Cash at bank and in hand 592,278 1,100,482
1,265,021 1,747,179
Creditors: amounts falling due within one year 6 ( 1,197,042) ( 1,612,537)
Net current assets 67,979 134,642
Total assets less current liabilities 304,503 432,102
Provision for liabilities 1,463 ( 28,094)
Net assets 305,966 404,008
Capital and reserves
Called-up share capital 100 100
Profit and loss account 305,866 403,908
Total shareholders' funds 305,966 404,008

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 Riverfield Fish Farm Limited (registered number: 06470369) were approved and authorised for issue by the Board of Directors on 16 January 2024. They were signed on its behalf by:

Mr S D Hughes
Director
RIVERFIELD FISH FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
RIVERFIELD FISH FARM 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

Riverfield Fish Farm 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 Camburgh House, 27 New Dover, Road, Canterbury, Kent, CT1 3DN, United Kingdom.

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 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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating lease income is recognised in the period in which it is due.

Taxation

Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 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.

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.

Impairment of assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Government grants

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

3. Employees

2023 2022
Number Number
The average number of persons employed by the company during the year amounted to: 4 4

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2022 114,840 210,033 223,362 103,855 652,090
Additions 0 5,950 0 1,111 7,061
Disposals 0 ( 94,839) ( 105,273) 0 ( 200,112)
At 31 March 2023 114,840 121,144 118,089 104,966 459,039
Accumulated depreciation
At 01 April 2022 0 118,337 140,939 95,354 354,630
Charge for the financial year 0 17,520 20,600 2,232 40,352
Disposals 0 ( 71,589) ( 100,878) 0 ( 172,467)
At 31 March 2023 0 64,268 60,661 97,586 222,515
Net book value
At 31 March 2023 114,840 56,876 57,428 7,380 236,524
At 31 March 2022 114,840 91,696 82,423 8,501 297,460

Included within freehold property is land at historic cost of £114,840.

5. Debtors

2023 2022
£ £
Trade debtors 7,200 0
Corporation tax 18,914 0
Other debtors 616,629 616,697
642,743 616,697

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 15,818 23,750
Taxation and social security 877 104,265
Other creditors 1,180,347 1,484,522
1,197,042 1,612,537

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
At the year end, the company owed the Directors: 1,046,051 1,353,034

8. Operating Leases

As Lessor

Total future minimum lease payments under non-cancellable operating leases are as follows

2023 2022
£ £
Not later than one year 28,192 28,192
Later than one year not later than five years 112,768 112,768
Later than five years 376,092 404,284
517,052 545,244