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Registered number: 02889751 ANGELFISH LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
ANGELFISH LIMITED COMPANY INFORMATION
Directors | D Jones
| J Jones
Registered number | 02889751
Registered office | 8th Floor
| Becket House
| Old Jewry
| London
| EC2R 8DD
Accountants | Xeinadin London Limited
| Accountants
| 8th Floor
| Becket House
| 36 Old Jewry
| London
| EC2R 8DD
ANGELFISH LIMITED CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
ANGELFISH LIMITED REGISTERED NUMBER: 02889751 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 887,756 |  | 678,914 |
Cash at bank and in hand | 5 | 1,270,871 |  | 1,091,375 |
|  | 2,158,627 |  | 1,770,289 |
Creditors: amounts falling due within one year | 6 | (1,632,146) |  | (1,285,417) |
Net current assets |  |  | 526,481 |  | 484,872
Total assets less current liabilities |  |  | 526,481 |  | 484,872
Net assets |  |  | 526,481 |  | 484,872
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 101,500 |  | 101,500
Profit and loss account |  |  | 424,981 |  | 383,372
|  |  | 526,481 |  | 484,872
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D Jones
Director
Date: 21 March 2025
Page 1
ANGELFISH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Angelfish Limited is a private company limited by shares registered in England and Wales, United Kingdom. The registered office is; 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD. The nature of the company's operations and principal activities are that of a specialist tour operator. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
| 2.2 | Revenue
Revenue comprises of the deposit element and balance in respect of inclusive tours and other services supplied to customers in the ordinary course of business. Revenue is taken to the profit and loss account based on the date of departure.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 2
ANGELFISH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.
| 2.7 | Advanced payments and receipts
Balances received relating to bookings that depart after the balance sheet date are treated as advance receipts and are separately disclosed under accruals and deferred income. Payments made to suppliers relating to bookings that depart after the balance sheet date are treated as advance payments and are separately disclosed under prepayments and accrued income.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 3
ANGELFISH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.11 | Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when paid. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
3. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2023 - 5).
4. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 151,172 | 178,825
| Prepayments and accrued income | 736,584 | 500,089
|  | 887,756 | 678,914
| Prepayment and accrued income includes advanced payments to suppliers for departures after the balance sheet date amounting to £736,584 (2023: £500,089).
5. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,270,871 | 1,091,375
|  | 1,270,871 | 1,091,375
Page 4
ANGELFISH LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 101,103 | 75,087
| Corporation tax | 40,567 | 30,621
| Other taxation and social security | 5,935 | 3,489
| Other creditors | 3,485 | 5,112
| Accruals and deferred income | 1,481,056 | 1,171,108
|  | 1,632,146 | 1,285,417
| Accruals and deferred income includes advanced receipts from customers for departures after the balance sheet date amounting to £1,476,106 (2023: £1,166,383). Barclays Bank Plc has a deed of charge over credit balances in relation to the provision of banking services.
7. | Contingent liabilities
As at 31st December 2024, there were contingent liabilities given by the company in the normal course of business to Svenska Handelsbanken AB in respect of ABTA bonds amounting £65,000 (2023: £60,000).
8. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,739 (2023: £3,746). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the balance sheet date.
9. | Controlling party
The parent company is Sidan Limited, who's registered office is 8th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD. The ultimate controlling party is D Jones by virtue of his shareholding in Sidan Limited.
Page 5