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REGISTERED NUMBER: 01259921 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Mermaid Fish Restaurant Limited

Mermaid Fish Restaurant Limited (Registered number: 01259921)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mermaid Fish Restaurant Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: T Fisher





REGISTERED OFFICE: Mermaid Fish Restaurant
Britannia Road
Morley
Leeds
West Yorkshire
LS27 0BA





REGISTERED NUMBER: 01259921 (England and Wales)






Mermaid Fish Restaurant Limited (Registered number: 01259921)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 89,418 209,306

CURRENT ASSETS
Stocks 2,000 1,000
Debtors 5 33,692 73,717
Cash at bank and in hand 47,608 13,443
83,300 88,160
CREDITORS
Amounts falling due within one year 6 355,789 295,504
NET CURRENT LIABILITIES (272,489 ) (207,344 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(183,071

)

1,962

CREDITORS
Amounts falling due after more than one
year

7

71,872

182,558
NET LIABILITIES (254,943 ) (180,596 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Other reserves 5,712 5,712
Retained earnings (270,655 ) (196,308 )
(254,943 ) (180,596 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2025 and were signed by:



T Fisher - Director


Mermaid Fish Restaurant Limited (Registered number: 01259921)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mermaid Fish Restaurant, Britannia Road, Morley, Leeds, LS27 0BA.

The presentation currency of the financial statements if the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The accounts have been prepared under the going concern basis which assumes the company will continue to trade.

The director is considering the position of the company and the recent losses that it has incurred, together with further losses post year end. The director is currently in discussions with advisors with the prospect of entering into a CVA.

The company has managed its day to day cash together with short term loans through funders during the year and post year end. HMRC have also been kept informed of the position of the company, with HMRC been the main creditor.

Revenue recognition
The turnover shown in the profit and loss account represents the value of goods sold in the restaurant and on out sales during the year, exclusive of Value Added Tax.

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 15% straight line
Motor Vehicles - 25% reducing balance
Leasehold Improvements - 10% straight line

Impairment of fixed 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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.


Mermaid Fish Restaurant Limited (Registered number: 01259921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
Taxation
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 24 ) .

4. TANGIBLE ASSETS
Fixtures
Improvements and Motor
to property fittings vehicles Totals
£ £ £ £
COST
At 1 July 2023 46,044 116,317 194,538 356,899
Additions 9,479 5,032 - 14,511
Disposals - - (138,166 ) (138,166 )
At 30 June 2024 55,523 121,349 56,372 233,244
DEPRECIATION
At 1 July 2023 1,038 111,783 34,772 147,593
Charge for year 5,061 3,043 11,157 19,261
Eliminated on disposal - - (23,028 ) (23,028 )
At 30 June 2024 6,099 114,826 22,901 143,826
NET BOOK VALUE
At 30 June 2024 49,424 6,523 33,471 89,418
At 30 June 2023 45,006 4,534 159,766 209,306

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 3,643 -
Other debtors 30,049 73,717
33,692 73,717

Mermaid Fish Restaurant Limited (Registered number: 01259921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 28,960 31,905
Trade creditors 45,725 60,804
Taxation and social security 201,106 100,051
Other creditors 79,998 102,744
355,789 295,504

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 10,833 23,189
Other creditors 61,039 159,369
71,872 182,558

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 99,000 101,361
Between one and five years 396,000 403,477
In more than five years 420,750 519,750
915,750 1,024,588

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
R Lodge
Balance outstanding at start of year - 806
Amounts repaid - (806 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

S Lodge
Balance outstanding at start of year - 91,128
Amounts repaid - (91,128 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest has not been charged on these loans.

10. RELATED PARTY DISCLOSURES

During the year the director maintained an interest free loan to the company. At the balance sheet date the amount outstanding was £58,485 (2023: £66,026).

Mermaid Fish Restaurant Limited (Registered number: 01259921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


11. ULTIMATE CONTROLLING PARTY

The ultimate and immediate parent company is Mermaid Fish Restaurant Holdings Limited, a company incorporated in England and Wales.

The company is under the control of Mr T Fisher.