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REGISTERED NUMBER: 04651604 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARKET HILL FISHERIES LTD

MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MARKET HILL FISHERIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R Moody





REGISTERED OFFICE: 9 Winterton Road
Winteringham
North Lincolnshire
DN15 9NF





REGISTERED NUMBER: 04651604 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 24,000
Tangible assets 5 88,815 58,848
108,815 82,848

CURRENT ASSETS
Stocks 7,539 6,753
Debtors 6 1,390 17,361
Cash at bank 17,109 19,708
26,038 43,822
CREDITORS
Amounts falling due within one year 7 76,461 60,187
NET CURRENT LIABILITIES (50,423 ) (16,365 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,392

66,483

CREDITORS
Amounts falling due after more than
one year

8

(29,336

)

(50,075

)

PROVISIONS FOR LIABILITIES (7,166 ) -
NET ASSETS 21,890 16,408

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 21,882 16,400
SHAREHOLDERS' FUNDS 21,890 16,408

MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

BALANCE SHEET - continued
31 MARCH 2024


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 director acknowledges his 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 profit or loss 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 director and authorised for issue on 20 December 2024 and were signed by:





R Moody - Director


MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

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

1. STATUTORY INFORMATION

Market Hill Fisheries Ltd is a private company, limited by shares , 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.

Turnover
From the 1st October 2011 turnover is the total amount received for sales of goods, including value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 80,000
AMORTISATION
At 1 April 2023 56,000
Charge for year 4,000
At 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 20,000
At 31 March 2023 24,000

MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

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

5. TANGIBLE FIXED ASSETS
Plant and
machiner
etc
£   
COST
At 1 April 2023 96,814
Additions 52,056
At 31 March 2024 148,870
DEPRECIATION
At 1 April 2023 37,966
Charge for year 22,089
At 31 March 2024 60,055
NET BOOK VALUE
At 31 March 2024 88,815
At 31 March 2023 58,848

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 812
Directors' current accounts - 6,634
Tax - 9,491
Prepayments and accrued income 1,390 424
1,390 17,361

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,661 27,097
Tax 7,184 -
Social security and other taxes 3,695 6,869
VAT 24,094 22,864
Other creditors 3,067 -
Directors' current accounts 9,768 -
Accrued expenses 2,992 3,357
76,461 60,187

MARKET HILL FISHERIES LTD (REGISTERED NUMBER: 04651604)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 29,336 50,075