2023-03-012024-02-292024-02-29false04957436WEST QUAY FISHERIES 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WEST QUAY FISHERIES LIMITED

Registered Number
04957436
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

WEST QUAY FISHERIES LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

I Bickerstaff

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

04957436 (England and Wales)
WEST QUAY FISHERIES LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3155,353160,691
155,353160,691
Current assets
Debtors4561,458306,451
Cash at bank and on hand512,428855,401
1,073,8861,161,852
Creditors amounts falling due within one year5(92,466)(165,074)
Net current assets (liabilities)981,420996,778
Total assets less current liabilities1,136,7731,157,469
Creditors amounts falling due after one year6(26,306)(37,580)
Provisions for liabilities7(5,307)(6,314)
Accruals and deferred income(3,725)(3,550)
Net assets1,101,4351,110,025
Capital and reserves
Called up share capital100100
Profit and loss account1,101,3351,109,925
Shareholders' funds1,101,4351,110,025
The financial statements were approved and authorised for issue by the Director on 29 November 2024, and are signed on its behalf by:
I Bickerstaff
Director
Registered Company No. 04957436
WEST QUAY FISHERIES LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings25
Vehicles25
2.Average number of employees

20242023
Average number of employees during the year67
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 March 23127,42479,41047,62726,140280,601
Additions---982982
At 29 February 24127,42479,41047,62727,122281,583
Depreciation and impairment
At 01 March 23-50,41544,25425,241119,910
Charge for year-4,3491,2657056,319
Other adjustments--1-1
At 29 February 24-54,76445,52025,946126,230
Net book value
At 29 February 24127,42424,6462,1071,176155,353
At 28 February 23127,42428,9953,373899160,691
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,869-
Other debtors545,589306,451
Total561,458306,451
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables90,54670,977
Taxation and social security1,91791,224
Other creditors32,873
Total92,466165,074
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,30637,580
Total26,30637,580
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,3076,314
Total5,3076,314
8.Related party transactions
During the year, total dividends of £8,115 (2023 - £7,600) were paid to the director. Included in the financial statements are the following significant transactions and balances with related parties: Bickerstaff Fishing Company Limited; a company controlled by the director, I Bickerstaff: Cost of sales £720,807 (2023: £793,789) Creditors: Amounts falling due within one year £51,504 (2023: £51,504) Current assets: Debtors £230,818 (2023: £230,818) Quayside (Newhaven) Limited; a company controlled by the director, I Bickerstaff: Current assets: Debtors £19,036 (2023: £19,036)