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Company No: 06470369 (England and Wales)

RIVERFIELD FISH FARM LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

RIVERFIELD FISH FARM LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

RIVERFIELD FISH FARM LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
RIVERFIELD FISH FARM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Sheona Duncan Hughes
Simon Douglas Hughes
SECRETARY Sheona Duncan Hughes
REGISTERED OFFICE Camburgh House
27 New Dover
Road
Canterbury
Kent
CT1 3DN
United Kingdom
COMPANY NUMBER 06470369 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
RIVERFIELD FISH FARM LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
RIVERFIELD FISH FARM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 214,608 236,524
214,608 236,524
Current assets
Stocks 30,000 30,000
Debtors 5 712,145 642,743
Cash at bank and in hand 82,841 592,278
824,986 1,265,021
Creditors: amounts falling due within one year 6 ( 843,179) ( 1,197,042)
Net current (liabilities)/assets (18,193) 67,979
Total assets less current liabilities 196,415 304,503
Provision for liabilities ( 13,785) 1,463
Net assets 182,630 305,966
Capital and reserves
Called-up share capital 100 100
Profit and loss account 182,530 305,866
Total shareholders' funds 182,630 305,966

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Riverfield Fish Farm Limited (registered number: 06470369) were approved and authorised for issue by the Board of Directors on 13 January 2025. They were signed on its behalf by:

Simon Douglas Hughes
Director
RIVERFIELD FISH FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
RIVERFIELD FISH FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Riverfield Fish Farm Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Camburgh House, 27 New Dover, Road, Canterbury, Kent, CT1 3DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 Statement of Financial Position 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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating lease income is recognised in the period in which it is due.

Taxation

Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

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
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:

Land and buildings not depreciated
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % 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

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
The average number of persons employed by the company during the year amounted to: 4 4

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2023 114,840 121,144 118,089 104,966 459,039
Additions 0 6,075 0 0 6,075
At 31 March 2024 114,840 127,219 118,089 104,966 465,114
Accumulated depreciation
At 01 April 2023 0 64,268 60,661 97,586 222,515
Charge for the financial year 0 11,789 14,357 1,845 27,991
At 31 March 2024 0 76,057 75,018 99,431 250,506
Net book value
At 31 March 2024 114,840 51,162 43,071 5,535 214,608
At 31 March 2023 114,840 56,876 57,428 7,380 236,524

5. Debtors

2024 2023
£ £
Trade debtors 11,600 7,200
Corporation tax 19,810 18,914
Other debtors 680,735 616,629
712,145 642,743

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 16,120 15,818
Other taxation and social security 8,444 877
Other creditors 818,615 1,180,347
843,179 1,197,042

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
At the year end, the company owed the Directors: 685,441 1,046,051