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File

Registration number: 02594828

Nishikoi Aquaculture Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Nishikoi Aquaculture Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Nishikoi Aquaculture Limited

Company Information

Directors

J H Finbow

J Finbow

Registered office

Unit 3
Toppesfield Road
Wethersfield
Essex
CM7 4EP

Bankers

National Westminster
NatWest House
100 The Crescent
Colchester Business Park
Colchester
Essex
CO4 4YQ

Accountants

Lambert Chapman LLP
Chartered Accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Nishikoi Aquaculture Limited

(Registration number: 02594828)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

176,959

30,981

Current assets

 

Stocks

6

286,706

312,008

Debtors

7

54,042

17,634

Cash at bank and in hand

 

415,483

454,669

 

756,231

784,311

Creditors: Amounts falling due within one year

8

(298,030)

(347,464)

Net current assets

 

458,201

436,847

Total assets less current liabilities

 

635,160

467,828

Provisions for liabilities

(42,785)

(5,776)

Net assets

 

592,375

462,052

Capital and reserves

 

Called up share capital

9

2,502

2,502

Capital redemption reserve

2,500

2,500

Retained earnings

587,373

457,050

Shareholders' funds

 

592,375

462,052

For the financial year ended 31 December 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 9 April 2025 and signed on its behalf by:
 

J H Finbow
Director

J Finbow
Director

 
     
 

Nishikoi Aquaculture Limited

Notes to the 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 and Wales.

The address of its registered office and principal place of business is: Unit 3, Toppesfield Road, Wethersfield, Essex, CM7 4EP.

These financial statements were authorised for issue by the Board on 9 April 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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale and distribution of fish food and related products in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Nishikoi Aquaculture Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

25% reducing balance method

Plant and machinery

15% & 25% reducing balance method

Office equipment

25% reducing balance method

Motor vehicles

25% reducing balance method

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.

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 less costs to complete and sell.

Stock consists of raw materials and finished goods.

Raw materials are valued at the lower of purchase price and net realisable value.

Finished goods are valued at the lower of purchase price and net realisable value based on the components that make up the product, no adjustment is made for labour or overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

 

Nishikoi Aquaculture Limited

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

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 directors) during the year, was 5 (2023 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

455,785

455,785

At 31 December 2024

455,785

455,785

Amortisation

At 1 January 2024

455,785

455,785

At 31 December 2024

455,785

455,785

Carrying amount

At 31 December 2024

-

-

 

Nishikoi Aquaculture Limited

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

5

Tangible assets

Land and buildings
£

Office equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2024

121,742

19,576

13,667

198,041

353,026

Additions

20,546

1,682

-

149,528

171,756

Disposals

-

(3,775)

-

(1,100)

(4,875)

At 31 December 2024

142,288

17,483

13,667

346,469

519,907

Depreciation

At 1 January 2024

105,193

14,264

10,327

192,261

322,045

Charge for the year

9,087

1,465

835

14,314

25,701

Eliminated on disposal

-

(3,698)

-

(1,100)

(4,798)

At 31 December 2024

114,280

12,031

11,162

205,475

342,948

Carrying amount

At 31 December 2024

28,008

5,452

2,505

140,994

176,959

At 31 December 2023

16,549

5,312

3,340

5,780

30,981

6

Stocks

2024
£

2023
£

Stocks

286,706

312,008

7

Debtors

2024
£

2023
£

Trade debtors

33,849

12,322

Other debtors

20,193

5,312

54,042

17,634

 

Nishikoi Aquaculture Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

36,332

51,335

Taxation and social security

25,512

53,228

Other creditors

231,094

238,731

Accruals and deferred income

5,092

4,170

298,030

347,464

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary Shares of £1 each

2,499

2,499

2,499

2,499

B Ordinary Shares of £1 each

1

1

1

1

Redeemable shares of £1 each

2

2

2

2

2,502

2,502

2,502

2,502

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £5,985 (2023 - £10,773). This amount is in respect of operating leases.