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Registered Number: 07869180
England and Wales

 

 

 


Filleted Accounts


for the year ended 31 December 2024

for

FINEST AQUATICS LTD

 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 132,420    120,349 
132,420    120,349 
Current assets      
Stocks 4 635,825    600,825 
Cash at bank and in hand 1,394,172    681,885 
2,029,997    1,282,710 
Creditors: amount falling due within one year 5 (944,400)   (587,730)
Net current assets 1,085,597    694,980 
 
Total assets less current liabilities 1,218,017    815,329 
Provisions for liabilities 6 (17,703)   (7,163)
Net assets 1,200,314    808,166 
 

Capital and reserves 		     
Called up share capital 7 1    1 
Profit and loss account 1,200,313    808,165 
Shareholders' funds 1,200,314    808,166 
 


For the 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.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 September 2025 and were signed by:


-------------------------------
Adam Green
Director
1
General Information
Finest Aquatics Ltd is a private company, limited by shares, registered in England and Wales, registration number 07869180, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 26 (2023 : 23).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 January 2024 11,206    74,420    122,507    208,133 
Additions -    -    56,212    56,212 
Disposals -    -    -    - 
At 31 December 2024 11,206    74,420    178,719    264,345 
Depreciation
At 01 January 2024 9,927    18,605    59,252    87,784 
Charge for year 320    13,954    29,867    44,141 
On disposals -    -    -    - 
At 31 December 2024 10,247    32,559    89,119    131,925 
Net book values
Closing balance as at 31 December 2024 959    41,861    89,600    132,420 
Opening balance as at 01 January 2024 1,279    55,815    63,255    120,349 


4.

Stocks

2024
£		   2023
£
Stocks 635,825    600,825 
635,825    600,825 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 792,157    482,300 
Corporation Tax 130,206    75,102 
PAYE & Social Security 7,928    6,679 
Directors' Current Accounts 798    1,003 
VAT 13,311    22,646 
944,400    587,730 

6.

Provisions for liabilities

2024
£		   2023
£
Deferred Tax 17,703    7,163 
17,703    7,163 

7.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2024
£		   2023
£
1 Ordinary share of £1.00 each 1    1 
1    1 

2