0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 322,661 322,661 322,661 xbrli:pure xbrli:shares iso4217:GBP 12337147 2022-12-01 2023-12-31 12337147 2023-12-31 12337147 2022-11-30 12337147 2021-12-01 2022-11-30 12337147 2022-11-30 12337147 2021-11-30 12337147 bus:Director1 2022-12-01 2023-12-31 12337147 bus:Director2 2022-12-01 2023-12-31 12337147 core:WithinOneYear 2023-12-31 12337147 core:WithinOneYear 2022-11-30 12337147 core:AfterOneYear 2023-12-31 12337147 core:AfterOneYear 2022-11-30 12337147 core:ShareCapital 2023-12-31 12337147 core:ShareCapital 2022-11-30 12337147 core:RetainedEarningsAccumulatedLosses 2023-12-31 12337147 core:RetainedEarningsAccumulatedLosses 2022-11-30 12337147 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12337147 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-30 12337147 bus:Director1 2022-11-30 12337147 bus:Director1 2023-12-31 12337147 bus:Director2 2022-11-30 12337147 bus:Director2 2023-12-31 12337147 bus:Director1 2021-11-30 12337147 bus:Director1 2022-11-30 12337147 bus:Director2 2021-11-30 12337147 bus:Director2 2022-11-30 12337147 bus:Director1 2021-12-01 2022-11-30 12337147 bus:Director2 2021-12-01 2022-11-30 12337147 bus:SmallEntities 2022-12-01 2023-12-31 12337147 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-12-31 12337147 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-12-31 12337147 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-12-31 12337147 bus:FullAccounts 2022-12-01 2023-12-31
COMPANY REGISTRATION NUMBER: 12337147
FISH GALORE INVESTMENTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
FISH GALORE INVESTMENTS LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
31 Dec 23
30 Nov 22
Note
£
£
Fixed assets
Tangible assets
4
322,661
322,661
Current assets
Cash at bank and in hand
8,228
1,409
Creditors: amounts falling due within one year
5
160,726
144,425
----------
----------
Net current liabilities
152,498
143,016
----------
----------
Total assets less current liabilities
170,163
179,645
Creditors: amounts falling due after more than one year
6
216,800
219,270
----------
----------
Net liabilities
( 46,637)
( 39,625)
----------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 46,639)
( 39,627)
---------
---------
Shareholders deficit
( 46,637)
( 39,625)
---------
---------
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 statement of income and retained earnings has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FISH GALORE INVESTMENTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr S R Lees
Director
Company registration number: 12337147
FISH GALORE INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2022 TO 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 168 Church Raod, Hove, East Sussex, BN3 2DL.
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
No material uncertainties, that may cast significant doubt about the ability of the company to continue as a going concern, have been identified by the directors. The directors consider that the uncertainty caused in the investment property industry as a result of Coronavirus and the recovery from the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern. This assumption has been continued as the economy is hit by the cost of living crisis, and world economic impact of the war in Ukraine.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental periods incurred.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property
£
Cost
At 1 December 2022 and 31 December 2023
322,661
----------
Depreciation
At 1 December 2022 and 31 December 2023
----------
Carrying amount
At 31 December 2023
322,661
----------
At 30 November 2022
322,661
----------
The investment property is stated as current market value.
5. Creditors: amounts falling due within one year
31 Dec 23
30 Nov 22
£
£
Bank loans and overdrafts
8,643
8,644
Other creditors
152,083
135,781
----------
----------
160,726
144,425
----------
----------
6. Creditors: amounts falling due after more than one year
31 Dec 23
30 Nov 22
£
£
Bank loans and overdrafts
216,800
219,270
----------
----------
7. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
31 Dec 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S R Lees
( 20)
( 30)
( 50)
Miss C A Russell
( 20)
( 30)
( 50)
----
----
----
( 40)
( 60)
( 100)
----
----
----
30 Nov 22
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S R Lees
1,635
( 1,655)
( 20)
Miss C A Russell
1,634
( 1,654)
( 20)
-------
-------
----
3,269
( 3,309)
( 40)
-------
-------
----