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REGISTERED NUMBER: SC338564 (Scotland)















THE FISH PEOPLE (SCOTLAND) LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH MARCH 2024






THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE FISH PEOPLE (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH MARCH 2024







DIRECTOR: A Bell



SECRETARY: T Bell



REGISTERED OFFICE: 11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT



BUSINESS ADDRESS: 350a Scotland Street
Glasgow
G5 8QF



REGISTERED NUMBER: SC338564 (Scotland)



ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT



BANKERS: Santander
Shawlands Branch
110 Kilmarnock Road
Glasgow
G41 3NN

THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

BALANCE SHEET
30TH MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 111,519 140,564
Tangible assets 5 187,768 223,690
299,287 364,254

CURRENT ASSETS
Stocks 38,221 40,233
Debtors 6 476,897 623,999
Cash at bank and in hand 2,294,778 1,867,745
2,809,896 2,531,977
CREDITORS
Amounts falling due within one year 7 824,921 728,127
NET CURRENT ASSETS 1,984,975 1,803,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,284,262

2,168,104

PROVISIONS FOR LIABILITIES 37,779 34,063
NET ASSETS 2,246,483 2,134,041

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,246,482 2,134,040
SHAREHOLDERS' FUNDS 2,246,483 2,134,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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 FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

BALANCE SHEET - continued
30TH MARCH 2024


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 24th December 2024 and were signed by:





A Bell - Director


THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MARCH 2024


1. STATUTORY INFORMATION

The Fish People (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, 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.

Website design is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% 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.


THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 33 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 31st March 2023
and 30th March 2024 548,000 8,224 556,224
AMORTISATION
At 31st March 2023 411,000 4,660 415,660
Charge for year 27,400 1,645 29,045
At 30th March 2024 438,400 6,305 444,705
NET BOOK VALUE
At 30th March 2024 109,600 1,919 111,519
At 30th March 2023 137,000 3,564 140,564

THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31st March 2023 413,214
Additions 11,065
Disposals (20,450 )
At 30th March 2024 403,829
DEPRECIATION
At 31st March 2023 189,524
Charge for year 45,755
Eliminated on disposal (19,218 )
At 30th March 2024 216,061
NET BOOK VALUE
At 30th March 2024 187,768
At 30th March 2023 223,690

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 383,524 428,796
Other debtors 93,373 195,203
476,897 623,999

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 505,374 607,517
Taxation and social security 118,701 41,646
Other creditors 200,846 78,964
824,921 728,127

8. OTHER FINANCIAL COMMITMENTS

Total amount of commitments guarantees and contingencies is £75,683 (2023 - £107,209). This amount consists of operating lease commitments payable over the next 5 years.

THE FISH PEOPLE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC338564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MARCH 2024


9. RELATED PARTY DISCLOSURES

The director has advanced the company an interest free loan of £142,491 (2023 - £33,008). There is no fixed term of repayment.

The other debtors balance includes an interest free employee loan of £75,846 (2023 - £75,846) due from a family member of the director. There is no fixed term of repayment.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Bell.