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REGISTERED NUMBER: 02400917 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HASTINGS FISHMARKET ENTERPRISES LIMITED
(LIMITED BY GUARANTEE)

HASTINGS FISHMARKET ENTERPRISES LIMITED (REGISTERED NUMBER: 02400917)
(LIMITED BY GUARANTEE)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

HASTINGS FISHMARKET ENTERPRISES LIMITED
(LIMITED BY GUARANTEE)

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P D White
P D Joy
M D Woodley





REGISTERED OFFICE: Hastings Fishmarket
Hastings
East Sussex
TN34 3DW





REGISTERED NUMBER: 02400917 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

HASTINGS FISHMARKET ENTERPRISES LIMITED (REGISTERED NUMBER: 02400917)
(LIMITED BY GUARANTEE)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,396 19,111

CURRENT ASSETS
Debtors 5 27,430 26,426
Cash at bank and in hand 31,737 24,973
59,167 51,399
CREDITORS
Amounts falling due within one year 6 13,258 9,432
NET CURRENT ASSETS 45,909 41,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,305

61,078

PROVISIONS FOR LIABILITIES 2,061 2,577
NET ASSETS 59,244 58,501

RESERVES
Income and expenditure account 59,244 58,501
59,244 58,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 surplus or deficit 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2024 and were signed on its behalf by:



P D Joy - Director



M D Woodley - Director


HASTINGS FISHMARKET ENTERPRISES LIMITED (REGISTERED NUMBER: 02400917)
(LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Hastings Fishmarket Enterprises Limited is a private company, limited by guarantee , 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.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 Pandemic the directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover
Turnover represents net invoiced sales of goods sold and services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

HASTINGS FISHMARKET ENTERPRISES LIMITED (REGISTERED NUMBER: 02400917)
(LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Grants and contributions
Grants and contributions received relating to the construction of capital assets which do not have a finite life, have been deducted from the cost of the fixed assets. In the opinion of the directors the accounting treatment is appropriate in order to show a true and fair view.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 49,341
DEPRECIATION
At 1 April 2023 30,230
Charge for year 3,715
At 31 March 2024 33,945
NET BOOK VALUE
At 31 March 2024 15,396
At 31 March 2023 19,111

During the year to 31 March 1994, the company finalised the construction of a fishmarket. Total costs of construction invoiced were £685,000. The expenditure was funded in equal shares by the Ministry of Agriculture, Fisheries and Food and Hastings Borough Council, who made payments direct to suppliers and contractors. Subject to the company complying with the conditions imposed by the Ministry of Agriculture, Fisheries and Food in approving the grant, the monies advanced by that body are not repayable. The directors consider that this possibility is remote. However, the funding provided by Hastings Borough Council is referred to within a lease between the company and the Council. We bring your attention to note 9 of these financial statements. The netting provisions of SSAP4 (Revised) Accounting for Government Grants, have been enacted within these accounts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 16,226 16,022
Prepayments 11,204 10,404
27,430 26,426

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 6,841 5,284
Tax 690 -
Social security and other taxes 603 477
VAT 2,975 1,521
Accrued expenses 2,149 2,150
13,258 9,432

HASTINGS FISHMARKET ENTERPRISES LIMITED (REGISTERED NUMBER: 02400917)
(LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 10,800 10,800

8. FUTURE LEASING COMMITMENTS

On 27 September 1994 a lease of the Fishmarket from the Hastings Borough Council was completed at a rent of £38,507 per annum for a period of thirty years from 1 October 1994. There was an agreed void period to 31 March 1995 and an agreement that reduced rents would be paid for the years from 1 April 1995 to 31 March 2002 which was extended to 31 March 2005. Subsequent agreements have resulted in a current rent of £10,800 per annum and a rebate for earlier years.

9. LIABILITY OF MEMBERS

The company is limited by guarantee and does not have any share capital. In the event of it being wound up the liability of the members is restricted to £1.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HASTINGS FISHMARKET ENTERPRISES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hastings Fishmarket Enterprises Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hastings Fishmarket Enterprises Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hastings Fishmarket Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Hastings Fishmarket Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hastings Fishmarket Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hastings Fishmarket Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hastings Fishmarket Enterprises Limited. You consider that Hastings Fishmarket Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hastings Fishmarket Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


4 June 2024