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REGISTERED NUMBER: 08250598 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

LONDON'S FISH SHOP LTD

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LONDON'S FISH SHOP LTD

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: O Aziz





REGISTERED OFFICE: London County Hall
Riverside Building
Westminster Bridge Road
London
SE1 7PB





REGISTERED NUMBER: 08250598 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Statement of Financial Position
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 581 1,163
Property, plant and equipment 5 699,418 706,461
699,999 707,624

CURRENT ASSETS
Inventories 121,593 99,200
Debtors 6 1,761,907 926,526
Cash at bank and in hand 51,172 160,642
1,934,672 1,186,368
CREDITORS
Amounts falling due within one year 7 1,232,410 940,353
NET CURRENT ASSETS 702,262 246,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,402,261

953,639

CREDITORS
Amounts falling due after more than one
year

8

244,451

429,396
NET ASSETS 1,157,810 524,243

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 1,157,710 524,242
SHAREHOLDERS' FUNDS 1,157,810 524,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2024 and were signed by:





O Aziz - Director


LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

London's Fish Shop Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the assets or liabilities affected in future periods.

The Company's management believes that judgements, estimates and assumptions used in the preparation of the financial statements are appropriate given the factual circumstances as at 31 October 2018.

Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other assessments. In particular, the Company has identified the following accounting policies which, due to the judgements, estimates and assumptions inherent in those policies, and the sensitivity of the financial statements to those judgements, estimates and assumptions, are critical to an understanding of the financial statements.

i) Assets impairment
The Company reviews on an annual basis the carrying amounts of investments, tangible assets and intangible assets, in order to determine if there is an indication of impairment. If any such indication exists an impairment review is carried out in order to determine the extent of the impairment loss.

ii) Useful lives of depreciable tangible and intangible assets
The management assesses the estimated useful lives and related depreciation & amortisation charges for purchased and internally generated intangible assets and tangible assets and reviews the assessment at regular intervals. Management estimates are based on the projected operating life cycle of these assets. Such estimates are not expected to change significantly, however, management may modify depreciation and amortisation rates wherever useful lives turn out to be different than previously estimated and writes down or writes off assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable for goods supplied net of Value Added Tax. Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Leasehold properties Straight line over the life of the lease
Plant & machinery20% on Reducing Balance
Fixtures fittings and equipment 20% on Reducing Balance
Motor vehicles20% on Reducing Balance
Computer equipment33% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at lower of cost, using first in first out method, and estimated selling prices less cost to complete and sell. Cost includes all cost of purchases, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 22 ) .

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 2,906
AMORTISATION
At 1 November 2022 1,743
Charge for year 582
At 31 October 2023 2,325
NET BOOK VALUE
At 31 October 2023 581
At 31 October 2022 1,163

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2022 1,100,000 12,889 574,353
Additions - 38,595 7,370
At 31 October 2023 1,100,000 51,484 581,723
DEPRECIATION
At 1 November 2022 534,600 3,158 450,155
Charge for year 59,400 6,076 26,905
At 31 October 2023 594,000 9,234 477,060
NET BOOK VALUE
At 31 October 2023 506,000 42,250 104,663
At 31 October 2022 565,400 9,731 124,198

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 - 24,598 1,711,840
Additions 42,796 1,231 89,992
At 31 October 2023 42,796 25,829 1,801,832
DEPRECIATION
At 1 November 2022 - 17,466 1,005,379
Charge for year 2,140 2,514 97,035
At 31 October 2023 2,140 19,980 1,102,414
NET BOOK VALUE
At 31 October 2023 40,656 5,849 699,418
At 31 October 2022 - 7,132 706,461

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 152,640 64,882
Amounts owed by connected companies 32,084 -
Other debtors 1,577,183 861,644
1,761,907 926,526

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 242,945 329,891
Hire purchase contracts 23,040 -
Trade creditors 64,063 77,073
Amounts owed to group undertakings 293,021 8,513
Taxation and social security 603,301 516,932
Other creditors 6,040 7,944
1,232,410 940,353

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 203,767 429,396
Hire purchase contracts 40,684 -
244,451 429,396

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 446,712 759,287

The bank loan is secured by a fixed and floating charge over the company's lease hold property and by a fixed and floating charge over the company's assets.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
O Aziz
Balance outstanding at start of year 385,713 152,275
Amounts advanced 779,726 251,487
Amounts repaid (249,696 ) (18,049 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 915,743 385,713

LONDON'S FISH SHOP LTD (REGISTERED NUMBER: 08250598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

11. RELATED PARTY DISCLOSURES

Included in creditors, amount falling due within one year, is an amount of £293,022 (2022: £8,513) owed to the group undertakings.

Included in debtors, amount falling due within one year, is an amount of £152,640 (2022: £64,882) owed by the group undertakings.

Included in debtors, amount falling due within one year, is an amount of £32,084 (2022: £Nil) owed by the
connected companies.

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent is MADEN GROUP LTD, incorporated in England and Wales. The ultimate controlling parties are the shareholders of Maden Group Ltd by virtue of their holding in the parent company.