Registered number
11776979
Hengrove Traditional Fish Bar Limited
Filleted Accounts
31 January 2024
Hengrove Traditional Fish Bar Limited
Registered number: 11776979
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 80,000 84,000
Tangible assets 4 20,000 24,000
100,000 108,000
Current assets
Stocks 1,617 1,804
Cash at bank and in hand 12,323 2,723
13,940 4,527
Creditors: amounts falling due within one year 5 (17,675) (19,278)
Net current liabilities (3,735) (14,751)
Total assets less current liabilities 96,265 93,249
Creditors: amounts falling due after more than one year 6 (55,889) (42,184)
Provisions for liabilities (3,800) (4,560)
Net assets 36,576 46,505
Capital and reserves
Called up share capital 1 1
Profit and loss account 36,575 46,504
Shareholder's funds 36,576 46,505
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A-J Shaheen
Director
Approved by the board on 31 October 2024
Hengrove Traditional Fish Bar Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 100,000
At 31 January 2024 100,000
Amortisation
At 1 February 2023 16,000
Provided during the year 4,000
At 31 January 2024 20,000
Net book value
At 31 January 2024 80,000
At 31 January 2023 84,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 1 39,999 40,000
At 31 January 2024 1 39,999 40,000
Depreciation
At 1 February 2023 - 16,000 16,000
Charge for the year - 4,000 4,000
At 31 January 2024 - 20,000 20,000
Net book value
At 31 January 2024 1 19,999 20,000
At 31 January 2023 1 23,999 24,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,000 8,000
Trade creditors 430 1,207
Taxation and social security costs 6,495 8,005
Other creditors 2,750 2,066
17,675 19,278
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,667 18,667
Director's loan account 45,222 23,517
55,889 42,184
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 302,633 277,400
8 Other information
Hengrove Traditional Fish Bar Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 The Parade
Hengrove Lane
Bristol
BS14 9DB
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