GAMEFISH LIMITED


Director	ARMSTEAD, Nicholas


Registered Address	4 Howe Street
	Edinburgh
	EH3 6TD


Registered Number	SC241832 (Scotland)

Balance Sheet as at
31 January 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		737		1,285
			737		1,285
Current assets
Stocks		263,009		263,009
Debtors	5	183,974		201,042
Cash at bank and on hand		42,781		36,958
		489,764		501,009
Creditors amounts falling due within one year	6	(165,602)		(282,835)
Net current assets (liabilities)			324,162		218,174
Total assets less current liabilities			324,899		219,459
Net assets			324,899		219,459
Capital and reserves
Profit and loss account			324,899		219,459
Shareholders' funds			324,899		219,459

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 20 October 2025, and are signed on its behalf by:

ARMSTEAD, Nicholas
Director
Registered Company No. SC241832

GAMEFISH LIMITED

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 February 24	50,000
	At 31 January 25	50,000
	Amortisation and impairment
	At 01 February 24	50,000
	At 31 January 25	50,000
	Net book value
	At 31 January 25	-
	At 31 January 24	-

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 February 24	28,299
	At 31 January 25	28,299
	Depreciation and impairment
	At 01 February 24	27,015
	Charge for year	547
	At 31 January 25	27,563
	Net book value
	At 31 January 25	737
	At 31 January 24	1,285

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	948	-
Other debtors	183,026	201,042
Total	183,974	201,042

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	45,631	152,598
Bank borrowings and overdrafts	24,378	34,696
Taxation and social security	67,929	86,988
Other creditors	27,664	6,097
Accrued liabilities and deferred income	-	2,456
Total	165,602	282,835

7.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
ARMSTEAD, Nicholas	130,867	3,753	13,443	121,177
	130,867	3,753	13,443	121,177