Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Kwok Ping Mo 13/06/2003 Yuk Tai Mo 13/06/2003 20 November 2024 The principal activity of the company continued to be that of operating and managing a fish and chip shop. SC251094 2024-06-30 SC251094 bus:Director1 2024-06-30 SC251094 bus:Director2 2024-06-30 SC251094 2023-06-30 SC251094 core:CurrentFinancialInstruments 2024-06-30 SC251094 core:CurrentFinancialInstruments 2023-06-30 SC251094 core:ShareCapital 2024-06-30 SC251094 core:ShareCapital 2023-06-30 SC251094 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC251094 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC251094 core:Goodwill 2023-06-30 SC251094 core:Goodwill 2024-06-30 SC251094 core:OtherPropertyPlantEquipment 2023-06-30 SC251094 core:OtherPropertyPlantEquipment 2024-06-30 SC251094 bus:OrdinaryShareClass1 2024-06-30 SC251094 2023-07-01 2024-06-30 SC251094 bus:FilletedAccounts 2023-07-01 2024-06-30 SC251094 bus:SmallEntities 2023-07-01 2024-06-30 SC251094 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC251094 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC251094 bus:Director1 2023-07-01 2024-06-30 SC251094 bus:Director2 2023-07-01 2024-06-30 SC251094 core:Goodwill core:TopRangeValue 2023-07-01 2024-06-30 SC251094 core:Goodwill 2023-07-01 2024-06-30 SC251094 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 SC251094 2022-07-01 2023-06-30 SC251094 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC251094 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC251094 (Scotland)

TORRY FISH BAR LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

TORRY FISH BAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

TORRY FISH BAR LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
TORRY FISH BAR LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 10,805 11,038
10,805 11,038
Current assets
Stocks 5,000 5,000
Debtors 5 3,471 4,294
Cash at bank and in hand 34,011 34,789
42,482 44,083
Creditors: amounts falling due within one year 6 ( 33,707) ( 29,480)
Net current assets 8,775 14,603
Total assets less current liabilities 19,580 25,641
Provision for liabilities 7 ( 2,053) ( 2,097)
Net assets 17,527 23,544
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 17,427 23,444
Total shareholders' funds 17,527 23,544

For the financial year ending 30 June 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 Torry Fish Bar Limited (registered number: SC251094) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

Kwok Ping Mo
Director
TORRY FISH BAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
TORRY FISH BAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

Torry Fish Bar Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom. The principal place of business is 90 Victoria Road, Aberdeen, AB11 9DT.

The financial statements have been prepared under the historical cost convention 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 represents amounts receivable from operating and managing a fish and chip shop, net of VAT. Turnover is recognised on an accruals basis dependent on when the service is provided.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years. This has now been fully 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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Intangible assets have been fully amortised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 63,200 63,200
At 30 June 2024 63,200 63,200
Accumulated amortisation
At 01 July 2023 63,200 63,200
At 30 June 2024 63,200 63,200
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 53,284 53,284
Additions 1,975 1,975
At 30 June 2024 55,259 55,259
Accumulated depreciation
At 01 July 2023 42,246 42,246
Charge for the financial year 2,208 2,208
At 30 June 2024 44,454 44,454
Net book value
At 30 June 2024 10,805 10,805
At 30 June 2023 11,038 11,038

5. Debtors

2024 2023
£ £
Prepayments 2,106 2,929
Corporation tax 1,365 1,365
3,471 4,294

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,088 4,922
Amounts owed to directors 17,995 5,706
Accruals 3,398 8,872
Taxation and social security 9,226 9,980
33,707 29,480

7. Provision for liabilities

2024 2023
£ £
Deferred tax 2,053 2,097

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors Loan Account- Amounts Owed to Directors (17,995) (5,706)

The loan is interest free and there are no fixed terms for repayment.