14 11 S E Fish House Limited 08986618 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is continued to be that of fish and chips shop. Digita Accounts Production Advanced 6.30.9574.0 true 08986618 2023-05-01 2024-04-30 08986618 2024-04-30 08986618 bus:OrdinaryShareClass1 2024-04-30 08986618 core:CurrentFinancialInstruments 2024-04-30 08986618 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 08986618 core:Goodwill 2024-04-30 08986618 core:LandBuildings 2024-04-30 08986618 core:OtherPropertyPlantEquipment 2024-04-30 08986618 bus:SmallEntities 2023-05-01 2024-04-30 08986618 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08986618 bus:FilletedAccounts 2023-05-01 2024-04-30 08986618 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08986618 bus:RegisteredOffice 2023-05-01 2024-04-30 08986618 bus:Director1 2023-05-01 2024-04-30 08986618 bus:Director2 2023-05-01 2024-04-30 08986618 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 08986618 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08986618 bus:Agent1 2023-05-01 2024-04-30 08986618 core:Goodwill 2023-05-01 2024-04-30 08986618 core:LandBuildings 2023-05-01 2024-04-30 08986618 core:LeaseholdImprovements 2023-05-01 2024-04-30 08986618 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 08986618 core:PlantMachinery 2023-05-01 2024-04-30 08986618 core:OtherRelatedParties 2023-05-01 2024-04-30 08986618 countries:England 2023-05-01 2024-04-30 08986618 2023-04-30 08986618 core:Goodwill 2023-04-30 08986618 core:LandBuildings 2023-04-30 08986618 core:OtherPropertyPlantEquipment 2023-04-30 08986618 2022-05-01 2023-04-30 08986618 2023-04-30 08986618 bus:OrdinaryShareClass1 2023-04-30 08986618 core:CurrentFinancialInstruments 2023-04-30 08986618 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 08986618 core:Goodwill 2023-04-30 08986618 core:LandBuildings 2023-04-30 08986618 core:OtherPropertyPlantEquipment 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08986618

S E Fish House Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

S E Fish House Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

S E Fish House Limited

Company Information

Directors

Mr Sam Economou

Mrs Freda Economou

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

S E Fish House Limited

(Registration number: 08986618)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

11,000

Tangible assets

6

22,536

27,736

 

22,536

38,736

Current assets

 

Stocks

7

7,950

7,352

Debtors

8

17,538

15,500

Cash at bank and in hand

 

30,651

50,089

 

56,139

72,941

Creditors: Amounts falling due within one year

9

(40,940)

(55,869)

Net current assets

 

15,199

17,072

Net assets

 

37,735

55,808

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

37,733

55,806

Shareholders' funds

 

37,735

55,808

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2024 and signed on its behalf by:
 

.........................................
Mr Sam Economou
Director

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
11 East Street
Prittlewell
Southend on Sea
Essex
SS2 6LQ

These financial statements were authorised for issue by the Board on 30 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reduced Balance Method

Leasehold property

Over 5 Years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 11).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,809

8,021

Amortisation expense

11,000

11,000

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

110,000

110,000

At 30 April 2024

110,000

110,000

Amortisation

At 1 May 2023

99,000

99,000

Amortisation charge

11,000

11,000

At 30 April 2024

110,000

110,000

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

11,000

11,000

6

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

21,750

32,839

54,589

Additions

-

2,609

2,609

At 30 April 2024

21,750

35,448

57,198

Depreciation

At 1 May 2023

8,700

18,153

26,853

Charge for the year

4,350

3,459

7,809

At 30 April 2024

13,050

21,612

34,662

Carrying amount

At 30 April 2024

8,700

13,836

22,536

At 30 April 2023

13,050

14,686

27,736

Included within the net book value of land and buildings above is £8,700 (2023 - £13,050) in respect of short leasehold land and buildings.
 

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Stocks

2024
£

2023
£

Other inventories

7,950

7,352

8

Debtors

2024
£

2023
£

Other debtors

15,500

15,500

Prepayments

2,038

-

17,538

15,500

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

639

1,654

Taxation and social security

 

39,738

45,025

Other creditors

 

563

9,190

 

40,940

55,869

 

S E Fish House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

11

Dividends

2024

2023

£

£

Interim dividend of £30,000.00 (2023 - £43,500.00) per ordinary share

60,000

87,000

 

 

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,170

18,960

Summary of transactions with other related parties


Director loan account
Included in directors loan account is an amount of £639 (2023: £1,654) owed to the directors of the company.