10 10 Towngate Fisheries Limited 03684948 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of operating fast food outlets Digita Accounts Production Advanced 6.30.9574.0 true 03684948 2024-01-01 2024-12-31 03684948 2024-12-31 03684948 bus:OrdinaryShareClass1 2024-12-31 03684948 bus:OrdinaryShareClass2 2024-12-31 03684948 bus:OrdinaryShareClass3 2024-12-31 03684948 core:RetainedEarningsAccumulatedLosses 2024-12-31 03684948 core:ShareCapital 2024-12-31 03684948 core:CurrentFinancialInstruments 2024-12-31 03684948 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03684948 core:Goodwill 2024-12-31 03684948 core:LandBuildings 2024-12-31 03684948 core:MotorVehicles 2024-12-31 03684948 core:OtherPropertyPlantEquipment 2024-12-31 03684948 bus:SmallEntities 2024-01-01 2024-12-31 03684948 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03684948 bus:FilletedAccounts 2024-01-01 2024-12-31 03684948 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03684948 bus:RegisteredOffice 2024-01-01 2024-12-31 03684948 bus:Director1 2024-01-01 2024-12-31 03684948 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 03684948 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 03684948 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 03684948 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03684948 core:Goodwill 2024-01-01 2024-12-31 03684948 core:LandBuildings 2024-01-01 2024-12-31 03684948 core:MotorVehicles 2024-01-01 2024-12-31 03684948 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 03684948 core:PlantMachinery 2024-01-01 2024-12-31 03684948 core:Vehicles 2024-01-01 2024-12-31 03684948 countries:England 2024-01-01 2024-12-31 03684948 2023-12-31 03684948 core:Goodwill 2023-12-31 03684948 core:LandBuildings 2023-12-31 03684948 core:MotorVehicles 2023-12-31 03684948 core:OtherPropertyPlantEquipment 2023-12-31 03684948 2023-01-01 2023-12-31 03684948 2023-12-31 03684948 bus:OrdinaryShareClass1 2023-12-31 03684948 bus:OrdinaryShareClass2 2023-12-31 03684948 bus:OrdinaryShareClass3 2023-12-31 03684948 core:RetainedEarningsAccumulatedLosses 2023-12-31 03684948 core:ShareCapital 2023-12-31 03684948 core:CurrentFinancialInstruments 2023-12-31 03684948 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03684948 core:LandBuildings 2023-12-31 03684948 core:MotorVehicles 2023-12-31 03684948 core:OtherPropertyPlantEquipment 2023-12-31 03684948 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 03684948 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 03684948

Towngate Fisheries Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Towngate Fisheries Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Towngate Fisheries Limited

Company Information

Director

Mr Mark Drummond

Registered office

1 Parkinson Way
Guiseley
Leeds
West Yorkshire
LS20 9PJ

 

Towngate Fisheries Limited

(Registration number: 03684948)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

38,487

45,758

Current assets

 

Stocks

6

4,751

3,382

Debtors

7

6,731

6,660

Cash at bank and in hand

 

258,980

230,245

 

270,462

240,287

Creditors: Amounts falling due within one year

8

(72,062)

(52,356)

Net current assets

 

198,400

187,931

Total assets less current liabilities

 

236,887

233,689

Provisions for liabilities

(9,621)

(10,982)

Net assets

 

227,266

222,707

Capital and reserves

 

Called up share capital

9

100

99

Retained earnings

227,166

222,608

Shareholders' funds

 

227,266

222,707

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 March 2025
 

 

Towngate Fisheries Limited

(Registration number: 03684948)
Balance Sheet as at 31 December 2024

.........................................
Mr Mark Drummond
Director

 

Towngate Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
1 Parkinson Way
Guiseley
Leeds
West Yorkshire
LS20 9PJ

These financial statements were authorised for issue by the director on 12 March 2025.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Towngate Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Property improvements

10% straight line

Motor vehicle

25% reducing balance

Kitchen and computer equipment

15% reducing balance or 33% straight line

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price.

 

Towngate Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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.

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 the director) during the year, was 10 (2023 - 10).

 

Towngate Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

65,487

65,487

At 31 December 2024

65,487

65,487

Amortisation

At 1 January 2024

65,487

65,487

At 31 December 2024

65,487

65,487

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

24,598

15,020

129,383

169,001

Additions

-

-

3,186

3,186

At 31 December 2024

24,598

15,020

132,569

172,187

Depreciation

At 1 January 2024

22,768

10,267

90,208

123,243

Charge for the year

1,830

1,188

7,439

10,457

At 31 December 2024

24,598

11,455

97,647

133,700

Carrying amount

At 31 December 2024

-

3,565

34,922

38,487

At 31 December 2023

1,830

4,753

39,175

45,758

Included within the net book value of land and buildings above is £Nil (2023 - £1,830) in respect of short leasehold land and buildings.
 

 

Towngate Fisheries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Other inventories

4,751

3,382

7

Debtors

Current

2024
£

2023
£

Prepayments

6,730

6,660

Other debtors

1

-

 

6,731

6,660

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,072

395

Taxation and social security

52,712

47,367

Accruals and deferred income

3,250

3,900

Other creditors

11,028

694

72,062

52,356

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

90

90

99

99

Ordinary B of £1 (2023 - £0) each

9

9

-

-

Ordinary C of £1 (2023 - £0) each

1

1

-

-

100

100

99

99