1 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 14,634 14,633 1 1 146,893 74,408 72,485 72,485 146,893 xbrli:pure xbrli:shares iso4217:GBP 06025475 2023-01-01 2023-12-31 06025475 2023-12-31 06025475 2022-01-01 2022-12-31 06025475 2022-12-31 06025475 core:FurnitureFittings 2023-01-01 2023-12-31 06025475 bus:Director1 2023-01-01 2023-12-31 06025475 core:FurnitureFittings 2023-12-31 06025475 core:WithinOneYear 2023-12-31 06025475 core:WithinOneYear 2022-12-31 06025475 core:ShareCapital 2023-12-31 06025475 core:ShareCapital 2022-12-31 06025475 core:OtherReservesSubtotal 2023-12-31 06025475 core:OtherReservesSubtotal 2022-12-31 06025475 core:RetainedEarningsAccumulatedLosses 2023-12-31 06025475 core:RetainedEarningsAccumulatedLosses 2022-12-31 06025475 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 06025475 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-12-31 06025475 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06025475 core:Non-currentFinancialInstruments 2023-12-31 06025475 core:Non-currentFinancialInstruments 2022-12-31 06025475 core:FurnitureFittings 2022-12-31 06025475 bus:SmallEntities 2023-01-01 2023-12-31 06025475 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06025475 bus:FullAccounts 2023-01-01 2023-12-31 06025475 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06025475 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06025475 1 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 06025475
FISHSTONE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
FISHSTONE LIMITED
FINANCIAL STATEMENTS
Year ended 31 December 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
2
FISHSTONE LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
1
1
Investments
6
72,485
146,893
--------
---------
72,486
146,894
CURRENT ASSETS
Cash at bank and in hand
11,838
4,772
CREDITORS: amounts falling due within one year
7
( 93,880)
( 81,690)
--------
--------
NET CURRENT LIABILITIES
( 82,042)
( 76,918)
--------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 9,556)
69,976
PROVISIONS
( 16,011)
-------
--------
NET (LIABILITIES)/ASSETS
( 9,556)
53,965
-------
--------
CAPITAL AND RESERVES
Called up share capital
50
50
Fair value reserves
29,731
85,536
Profit and loss account
( 39,337)
( 31,621)
--------
--------
SHAREHOLDERS FUNDS
( 9,556)
53,965
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Prof S J Gibson CBE
Director
Company registration number: 06025475
FISHSTONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 December 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Manor House, Celtic Manor Resort, Coldra Woods, Newport, South Wales, NP18 1HQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts show that the company made a loss of £63,521 (2022 - gain of £19,941) in the period and had net liabilities of £9,556 (2022 - net assets of £53,965). The director has therefore had to consider the appropriateness of going concern. The company has been able to finance its operations largely because of support from the director. Were this support not available, the company may not be able to continue trading. The director is confident that the company will create sufficient profits going forward and will be able to meet its obligations given the continuing support. As a consequence, the director considers it appropriate to prepare the accounts on the going concern basis.
Turnover
The turnover shown in the profit and loss account is derived from ordinary activities and represents amounts invoiced during the year, exclusive of Value Added Tax.
Taxation
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 accounts. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
33% straight line
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 1 January 2023 and 31 December 2023
14,634
--------
Depreciation
At 1 January 2023 and 31 December 2023
14,633
--------
Carrying amount
At 31 December 2023
1
--------
At 31 December 2022
1
--------
6. INVESTMENTS
Other investments other than loans
£
Cost
At 1 January 2023
146,893
Other movements
( 74,408)
---------
At 31 December 2023
72,485
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
72,485
---------
At 31 December 2022
146,893
---------
Listed investments
Listed investments having a cost of £32,844 (2022 - £32,844) are held by the company and had a market value of £72,485 at the end of the year (2022 - £146,893).
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,517
Other creditors
91,363
81,690
--------
--------
93,880
81,690
--------
--------
8. EVENTS AFTER THE END OF THE REPORTING PERIOD
At the date of signing, the fair value of the investments has decreased by £21,450 from £72,485 to £51,035.
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is a balance due to the director of £88,985 (2022 - £79,889). This loan is interest free and repayable on demand.