Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr D Chubb 12/03/2021 Mr J Chubb 12/03/2021 Mrs J Rowe 12/03/2021 26 October 2024 The principal activity of the Company during the financial period was marine fishing. 13262047 2024-03-31 13262047 bus:Director1 2024-03-31 13262047 bus:Director2 2024-03-31 13262047 bus:Director3 2024-03-31 13262047 2023-03-31 13262047 core:CurrentFinancialInstruments 2024-03-31 13262047 core:CurrentFinancialInstruments 2023-03-31 13262047 core:ShareCapital 2024-03-31 13262047 core:ShareCapital 2023-03-31 13262047 core:RetainedEarningsAccumulatedLosses 2024-03-31 13262047 core:RetainedEarningsAccumulatedLosses 2023-03-31 13262047 core:OtherResidualIntangibleAssets 2023-03-31 13262047 core:OtherResidualIntangibleAssets 2024-03-31 13262047 core:PlantMachinery 2023-03-31 13262047 core:ToolsEquipment 2023-03-31 13262047 core:OfficeEquipment 2023-03-31 13262047 core:PlantMachinery 2024-03-31 13262047 core:ToolsEquipment 2024-03-31 13262047 core:OfficeEquipment 2024-03-31 13262047 bus:OrdinaryShareClass1 2024-03-31 13262047 2023-04-01 2024-03-31 13262047 bus:FilletedAccounts 2023-04-01 2024-03-31 13262047 bus:SmallEntities 2023-04-01 2024-03-31 13262047 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13262047 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13262047 bus:Director1 2023-04-01 2024-03-31 13262047 bus:Director2 2023-04-01 2024-03-31 13262047 bus:Director3 2023-04-01 2024-03-31 13262047 core:ToolsEquipment 2023-04-01 2024-03-31 13262047 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 13262047 2022-04-01 2023-03-31 13262047 core:PlantMachinery 2023-04-01 2024-03-31 13262047 core:OfficeEquipment 2023-04-01 2024-03-31 13262047 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13262047 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13262047 (England and Wales)

MOUNT'S BAY FISH LIMITED

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

MOUNT'S BAY FISH LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MOUNT'S BAY FISH LIMITED

BALANCE SHEET

As at 31 March 2024
MOUNT'S BAY FISH LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 110,000 110,000
Tangible assets 4 187,577 151,190
297,577 261,190
Current assets
Debtors 5 5,055 66,855
Cash at bank and in hand 25,235 7,084
30,290 73,939
Creditors: amounts falling due within one year 6 ( 460,872) ( 357,553)
Net current liabilities (430,582) (283,614)
Total assets less current liabilities (133,005) (22,424)
Net liabilities ( 133,005) ( 22,424)
Capital and reserves
Called-up share capital 7 120 120
Profit and loss account ( 133,125 ) ( 22,544 )
Total shareholders' deficit ( 133,005) ( 22,424)

For the financial year ending 31 March 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 Mount's Bay Fish Limited (registered number: 13262047) were approved and authorised for issue by the Board of Directors on 26 October 2024. They were signed on its behalf by:

Mr J Chubb
Director
MOUNT'S BAY FISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MOUNT'S BAY FISH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Mount's Bay Fish 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 14 Caldwell Drive, Long Whatton, Loughborough, Leicestershire, LE12 5BW, 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 Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £133,005. 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery not depreciated
Tools and equipment 20 % reducing balance
Office equipment 3 years straight line

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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 110,000 110,000
At 31 March 2024 110,000 110,000
Accumulated amortisation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 110,000 110,000
At 31 March 2023 110,000 110,000

4. Tangible assets

Plant and machinery Tools and equipment Office equipment Total
£ £ £ £
Cost
At 01 April 2023 135,000 22,972 865 158,837
Additions 0 49,458 0 49,458
At 31 March 2024 135,000 72,430 865 208,295
Accumulated depreciation
At 01 April 2023 0 7,359 288 7,647
Charge for the financial year 0 12,782 289 13,071
At 31 March 2024 0 20,141 577 20,718
Net book value
At 31 March 2024 135,000 52,289 288 187,577
At 31 March 2023 135,000 15,613 577 151,190

5. Debtors

2024 2023
£ £
Other debtors 5,055 66,855

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 39,773 55,509
Other creditors 421,099 302,044
460,872 357,553

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each 120 120