Acorah Software Products - Accounts Production 14.6.300 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 12405860 Mr Tarek Haider Fishisfast LLC 15 Boulden Circle, Delaware true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12405860 2023-01-31 12405860 2024-01-31 12405860 2023-02-01 2024-01-31 12405860 frs-core:CurrentFinancialInstruments 2024-01-31 12405860 frs-core:Non-currentFinancialInstruments 2024-01-31 12405860 frs-core:ComputerEquipment 2024-01-31 12405860 frs-core:ComputerEquipment 2023-02-01 2024-01-31 12405860 frs-core:ComputerEquipment 2023-01-31 12405860 frs-core:ShareCapital 2024-01-31 12405860 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 12405860 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12405860 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 12405860 frs-bus:SmallEntities 2023-02-01 2024-01-31 12405860 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12405860 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12405860 1 2023-02-01 2024-01-31 12405860 frs-bus:Director1 2023-02-01 2024-01-31 12405860 frs-countries:EnglandWales 2023-02-01 2024-01-31 12405860 2022-01-31 12405860 2023-01-31 12405860 2022-02-01 2023-01-31 12405860 frs-core:CurrentFinancialInstruments 2023-01-31 12405860 frs-core:Non-currentFinancialInstruments 2023-01-31 12405860 frs-core:ShareCapital 2023-01-31 12405860 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 12405860
Fishisfast Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Goodwille Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12405860
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 643 495
643 495
CURRENT ASSETS
Debtors 5 24,897 14,802
Cash at bank and in hand 15,153 19,072
40,050 33,874
Creditors: Amounts Falling Due Within One Year 6 (5,631 ) (5,225 )
NET CURRENT ASSETS (LIABILITIES) 34,419 28,649
TOTAL ASSETS LESS CURRENT LIABILITIES 35,062 29,144
Creditors: Amounts Falling Due After More Than One Year 7 (14,999 ) (14,999 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (122 ) (94 )
NET ASSETS 19,941 14,051
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 19,940 14,050
SHAREHOLDERS' FUNDS 19,941 14,051
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Tarek Haider
Director
16/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fishisfast Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12405860 . The registered office is 71-75 Shelton Street, London, Greater London, WC2H 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 50% straight line
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.12. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 625
Additions 736
As at 31 January 2024 1,361
Depreciation
As at 1 February 2023 130
Provided during the period 588
As at 31 January 2024 718
Net Book Value
As at 31 January 2024 643
As at 1 February 2023 495
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,873 12,704
Prepayments and accrued income 477 613
VAT 1,547 1,485
24,897 14,802
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 307 244
Corporation tax 1,354 1,088
Other taxes and social security 2,621 2,744
Accruals and deferred income 1,349 1,149
5,631 5,225
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 14,999 14,999
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
No dividends were proposed or paid during the period. 
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10. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Fishisfast LLC . Fishisfast LLC was incorporated in United States of America. Copies of the group accounts may be obtained from the secretary, 15 Boulden Circle, Delaware . The ultimate controlling party is Fishisfast LLC who controls 100% of the shares of Fishisfast Ltd .
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