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REGISTERED NUMBER: 05192943 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

IAN PERKES FISH MERCHANTS LIMITED

IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IAN PERKES FISH MERCHANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr S R Perkes
Mrs K E Perkes
Mr I M Perkes



REGISTERED OFFICE: Office 5
The Fish Quay
Brixham
Devon
TQ5 8AW



REGISTERED NUMBER: 05192943 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: NatWest
Dartmouth
South West TCSC
740 Waterside Drive, Aztec West
Almondsbury, Bristol
Avon
BS99 5BD

IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,000 50,000
Tangible assets 5 12,335 11,076
Investments 6 2,500 2,500
39,835 63,576

CURRENT ASSETS
Stocks 7 24,400 1,370
Debtors 8 671,716 711,702
Cash at bank 14,750 4,847
710,866 717,919
CREDITORS
Amounts falling due within one year 9 629,756 632,069
NET CURRENT ASSETS 81,110 85,850
TOTAL ASSETS LESS CURRENT LIABILITIES 120,945 149,426

CREDITORS
Amounts falling due after more than one
year

10

(23,334

)

(43,334

)

PROVISIONS FOR LIABILITIES (3,084 ) (2,507 )
NET ASSETS 94,527 103,585

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 94,327 103,385
SHAREHOLDERS' FUNDS 94,527 103,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

BALANCE SHEET - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mr I M Perkes - Director


IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Ian Perkes Fish Merchants Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 500,000
AMORTISATION
At 1 May 2023 450,000
Amortisation for year 25,000
At 30 April 2024 475,000
NET BOOK VALUE
At 30 April 2024 25,000
At 30 April 2023 50,000

IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 49,788 5,000 54,788
Additions 4,000 - 4,000
At 30 April 2024 53,788 5,000 58,788
DEPRECIATION
At 1 May 2023 43,504 208 43,712
Charge for year 1,543 1,198 2,741
At 30 April 2024 45,047 1,406 46,453
NET BOOK VALUE
At 30 April 2024 8,741 3,594 12,335
At 30 April 2023 6,284 4,792 11,076

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2,500
NET BOOK VALUE
At 30 April 2024 2,500
At 30 April 2023 2,500

7. STOCKS
2024 2023
£    £   
Stocks 24,400 1,370

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 490,292 471,114
Directors' current accounts 151,819 180,252
Tax 11,017 31,821
VAT 16,121 28,515
Prepayments 2,467 -
671,716 711,702

IAN PERKES FISH MERCHANTS LIMITED (REGISTERED NUMBER: 05192943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 250,435 297,127
Trade creditors 220,280 254,779
Tax 98,139 67,466
Social security and other taxes 4,887 5,538
Other creditors 53,656 1,830
Accrued expenses 2,359 5,329
629,756 632,069

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 23,334 43,334

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr I M Perkes and Mrs K E Perkes
Balance outstanding at start of year 127,467 163,889
Amounts advanced 104,972 146,446
Amounts repaid (125,585 ) (182,868 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 106,854 127,467

Mr S R Perkes
Balance outstanding at start of year 52,785 54,786
Amounts advanced 45,199 52,999
Amounts repaid (53,000 ) (55,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,984 52,785

Loans are unsecured and repayable on demand. Interest is charged at 2.25% in the year on debit balances.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £176,667 were paid to the directors .