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Company Registration No. 07538595 (England and Wales)
ROCKFISH QUAYSIDE LIMITED Unaudited accounts for the year ended 30 April 2024
ROCKFISH QUAYSIDE LIMITED Unaudited accounts Contents
Page
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ROCKFISH QUAYSIDE LIMITED Company Information for the year ended 30 April 2024
Directors
N S Sandhu M H Tonks J Perkes
Company Number
07538595 (England and Wales)
Registered Office
1 MAIDENFIELD TEIGNMOUTH ROAD MAIDENCOMBE TORQUAY DEVON TQ1 4SY
Accountants
FARQUHAR PARTNERSHIP LIMITED 151 WHITELADIES ROAD CLIFTON BRISTOL BS8 2RA
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ROCKFISH QUAYSIDE LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
447,450 
290,633 
Current assets
Inventories
372,759 
80,817 
Debtors
288,663 
208,941 
Cash at bank and in hand
70,790 
72,572 
732,212 
362,330 
Creditors: amounts falling due within one year
(699,922)
(281,174)
Net current assets
32,290 
81,156 
Total assets less current liabilities
479,740 
371,789 
Creditors: amounts falling due after more than one year
(260,046)
(129,000)
Provisions for liabilities
Deferred tax
(7,198)
(8,489)
Net assets
212,496 
234,300 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
212,494 
234,298 
Shareholders' funds
212,496 
234,300 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by
N S Sandhu Director Company Registration No. 07538595
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ROCKFISH QUAYSIDE LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
ROCKFISH QUAYSIDE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07538595. The registered office is 1 MAIDENFIELD TEIGNMOUTH ROAD, MAIDENCOMBE, TORQUAY, DEVON, TQ1 4SY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the term of the lease
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Computer equipment
15% reducing balance basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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ROCKFISH QUAYSIDE LIMITED Notes to the Accounts for the year ended 30 April 2024
Leased assets
The Company recognises a right of use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short term leases (defined as leases with a term of 12 months or less) and leases of low value assets. For these leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the lease term. Lease incentives are spread over the term of the lease. The lease liability is presented as a separate line in the Balance Sheet. The lease liability is initially measured at the present value of all future lease payments, discounted at the rate implicit in the lease, or if this rate is not readily determined, the incremental borrowing rate of the Company. Lease payments included in the measurement of the lease liability include: • fixed and variable lease payments, less any lease incentives; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest rate method) and by reducing the carrying amount by any lease payments made. The Company remeasures the lease liability and makes a corresponding adjustment to the related right of use asset whenever: • the lease term has changed or there is a change in the assessment of exercise of a purchase option; or • a lease contract is modified and the lease modification is not accounted for as a separate lease in which case the liability is remeasured by discounting the revised lease payments using a revised discount rate. Right of use assets are presented within Tangible Fixed Assets on the Balance Sheet. The right of use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day of the lease and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right of use assets are depreciated over the shorter period of lease term and useful life of the underlying asset, unless a lease transfers ownership of the underlying asset or the cost of the right of use assets reflects that the Company expects to exercise a purchase option, in which case the right of use asset is depreciated over the useful life of the underlying asset. The depreciation starts at commencement of the lease. For this year where the company is first applying the Periodic Review 2024, lease liabilities and right-of-use assets have been calculated as if starting on the transition date of 1 May 2023. The company has applied the same obtainable borrowing rate to all these leases.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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ROCKFISH QUAYSIDE LIMITED Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
267,124 
67,212 
6,650 
12,537 
7,656 
361,179 
Additions
184,723 
2,990 
- 
- 
- 
187,713 
Disposals
- 
(3,952)
- 
- 
- 
(3,952)
At 30 April 2024
451,847 
66,250 
6,650 
12,537 
7,656 
544,940 
Depreciation
At 1 May 2023
18,921 
35,890 
1,664 
9,222 
4,849 
70,546 
Charge for the year
23,479 
4,774 
1,247 
497 
421 
30,418 
On disposals
- 
(3,474)
- 
- 
- 
(3,474)
At 30 April 2024
42,400 
37,190 
2,911 
9,719 
5,270 
97,490 
Net book value
At 30 April 2024
409,447 
29,060 
3,739 
2,818 
2,386 
447,450 
At 30 April 2023
248,203 
31,322 
4,986 
3,315 
2,807 
290,633 
Land & Buildings - Right of use assets include buildings with a net book value of £174,600.
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
34,736 
- 
Finished goods
338,023 
80,817 
372,759 
80,817 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
113,929 
98,092 
Amounts due from group undertakings etc.
90,137 
44,287 
Accrued income and prepayments
25,116 
23,176 
Other debtors
59,481 
43,386 
288,663 
208,941 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
43,000 
43,000 
Obligations under finance leases and hire purchase contracts
5,532 
- 
Trade creditors
539,025 
177,145 
Taxes and social security
8,208 
9,839 
Other creditors
89,410 
35,855 
Accruals
14,747 
15,335 
699,922 
281,174 
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ROCKFISH QUAYSIDE LIMITED Notes to the Accounts for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
86,000 
129,000 
Obligations under finance leases and hire purchase contracts
174,046 
- 
260,046 
129,000 
Bank borrowings are secured by a fixed and floating charge over the company's current and future assets.
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
9,336 
10,329 
Tax losses carried forward
(2,119)
(1,794)
Other deferred taxation
(19)
(46)
7,198 
8,489 
2024 
2023 
£ 
£ 
Provision at start of year
8,489 
8,956 
Credited to the profit and loss account
(1,291)
(467)
Provision at end of year
7,198 
8,489 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £0.01 each
2 
2 
11
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
19,000 
Later than one year and not later than five years
- 
76,000 
Later than five years
- 
61,750 
- 
156,750 
12
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
J Perkes
Loan repayable on demand, interest charged at HMRC official rate
18,867 
424 
- 
19,291 
18,867 
424 
- 
19,291 
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ROCKFISH QUAYSIDE LIMITED Notes to the Accounts for the year ended 30 April 2024
13
Controlling party
The company is a wholly owned subsidiary of Rockfish Quayside Holdings Limited (company no. 12713240) whose registered office is 1 Maidenfield, Teignmouth Road, Maidencombe, Torquay TQ1 4SY.
14
Average number of employees
During the year the average number of employees was 21 (2023: 20).
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