Company No:
Contents
Note | 31.03.2024 | 31.07.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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217,338 | 620,090 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand | 7 |
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817,216 | 1,225,140 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current liabilities | (180,580) | (431,870) | ||
Total assets less current liabilities | 36,758 | 188,220 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Share premium account |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Notting Hill Fish Shop Limited (registered number:
Christopher D'Sylva
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Notting Hill Fish Shop 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 1-3 Stanley Gardens, Flat 1a, London, W11 2ND, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The company changed it's year-end to 31 March. The reporting period is 8 months.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings |
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Plant and machinery etc. |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 01.08.2023 to 31.03.2024 |
Year ended 31.07.2023 |
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Number | Number | ||
Monthly average number of persons employed by the company during the period, including directors |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 August 2023 |
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Additions |
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Disposals | (
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At 31 March 2024 |
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Accumulated depreciation | |||||
At 01 August 2023 |
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Charge for the financial period |
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Disposals | (
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At 31 March 2024 |
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Net book value | |||||
At 31 March 2024 |
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At 31 July 2023 |
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31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Stocks |
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31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Trade debtors |
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Deferred tax asset |
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Other debtors |
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31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Cash at bank and in hand |
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31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to group undertakings |
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Other taxation and social security |
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Other creditors |
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31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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2.13 | 1.42 |
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
31.03.2024 | 31.07.2023 | ||
£ | £ | ||
within one year |
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between one and five years |
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Other related party transactions
31.03.2024 | 31.07.2023 | ||
£ | £ | ||
Dorian Restaurants Limited | 86,495 | 622,777 | |
Supermarket of Dreams Limited | (72,903) | 0 | |
Schmaltz Limited | (19,028) | 0 |
The above debtors/( creditors) relate to company's incorporated in England and Wales. The entities are related by virtue of their shared ownership
In addition the directors of the company are owed £185,742 ( 2023: £264,674)