Silverfin false false 31/01/2024 01/02/2023 31/01/2024 K Harvey 10/12/2013 A Lloyd 30/06/2023 17 September 2024 The principal activity of the Company during the financial year was that of freshwater fishing. 08809322 2024-01-31 08809322 bus:Director1 2024-01-31 08809322 bus:Director2 2024-01-31 08809322 2023-01-31 08809322 core:CurrentFinancialInstruments 2024-01-31 08809322 core:CurrentFinancialInstruments 2023-01-31 08809322 core:Non-currentFinancialInstruments 2024-01-31 08809322 core:Non-currentFinancialInstruments 2023-01-31 08809322 core:ShareCapital 2024-01-31 08809322 core:ShareCapital 2023-01-31 08809322 core:RetainedEarningsAccumulatedLosses 2024-01-31 08809322 core:RetainedEarningsAccumulatedLosses 2023-01-31 08809322 core:Goodwill 2023-01-31 08809322 core:Goodwill 2024-01-31 08809322 core:LeaseholdImprovements 2023-01-31 08809322 core:PlantMachinery 2023-01-31 08809322 core:LeaseholdImprovements 2024-01-31 08809322 core:PlantMachinery 2024-01-31 08809322 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-01-31 08809322 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-01-31 08809322 bus:OrdinaryShareClass1 2024-01-31 08809322 2023-02-01 2024-01-31 08809322 bus:FilletedAccounts 2023-02-01 2024-01-31 08809322 bus:SmallEntities 2023-02-01 2024-01-31 08809322 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08809322 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08809322 bus:Director1 2023-02-01 2024-01-31 08809322 bus:Director2 2023-02-01 2024-01-31 08809322 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 08809322 core:Goodwill 2023-02-01 2024-01-31 08809322 core:LeaseholdImprovements 2023-02-01 2024-01-31 08809322 core:PlantMachinery 2023-02-01 2024-01-31 08809322 2022-02-01 2023-01-31 08809322 core:CurrentFinancialInstruments 2023-02-01 2024-01-31 08809322 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 08809322 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 08809322 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08809322 (England and Wales)

HARVEY LLOYD FISHERIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

HARVEY LLOYD FISHERIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

HARVEY LLOYD FISHERIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
HARVEY LLOYD FISHERIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 106,800 135,544
106,800 135,544
Current assets
Stocks 163,211 161,315
Debtors 5 24,561 22,095
Cash at bank and in hand 3,087 556
190,859 183,966
Creditors: amounts falling due within one year 6 ( 316,534) ( 345,442)
Net current liabilities (125,675) (161,476)
Total assets less current liabilities (18,875) (25,932)
Creditors: amounts falling due after more than one year 7 ( 7,911) ( 14,437)
Provision for liabilities ( 1,869) 0
Net liabilities ( 28,655) ( 40,369)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 28,755 ) ( 40,469 )
Total shareholder's deficit ( 28,655) ( 40,369)

For the financial year ending 31 January 2024 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 Harvey Lloyd Fisheries Limited (registered number: 08809322) were approved and authorised for issue by the Board of Directors on 17 September 2024. They were signed on its behalf by:

K Harvey
Director
HARVEY LLOYD FISHERIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
HARVEY LLOYD FISHERIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
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

Harvey Lloyd Fisheries 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 C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is Ivy House Lakes, Grittenham, Chippenham, SN15 AJU, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £28,655. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 % reducing balance
Plant and machinery 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position 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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 33,000 33,000
At 31 January 2024 33,000 33,000
Accumulated amortisation
At 01 February 2023 33,000 33,000
At 31 January 2024 33,000 33,000
Net book value
At 31 January 2024 0 0
At 31 January 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Total
£ £ £
Cost
At 01 February 2023 232,775 66,932 299,707
Additions 0 18,229 18,229
Disposals 0 ( 36,240) ( 36,240)
At 31 January 2024 232,775 48,921 281,696
Accumulated depreciation
At 01 February 2023 132,700 31,463 164,163
Charge for the financial year 14,876 6,490 21,366
Disposals 0 ( 10,633) ( 10,633)
At 31 January 2024 147,576 27,320 174,896
Net book value
At 31 January 2024 85,199 21,601 106,800
At 31 January 2023 100,075 35,469 135,544

5. Debtors

2024 2023
£ £
Trade debtors 50 224
Amounts owed by connected companies 24,511 21,871
24,561 22,095

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 6,088 11,427
Trade creditors 2,090 4,522
Amounts owed to directors 284,803 322,231
Accruals 4,100 4,100
Taxation and social security 19,453 3,162
316,534 345,442

There are no amounts included above in respect of which any security has been given by the small entity.

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

2024 2023
£ £
Bank loans 7,911 14,437

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed by companies under common control 24,511 21,871

These loans are unsecured and no interest is charged on the balance.

Transactions with the entity's directors

2024 2023
£ £
Amount owed to the director by the company 284,803 322,231

The Loan is unsecured and no interest is charged on the balance.