REGISTERED NUMBER: 05979998 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MIDLAND FISH COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K P Hayton

C S Hayton

SECRETARY:

Mrs G L Hayton

REGISTERED OFFICE:

Unit 1 Dock Avenue

Fleetwood

Lancashire

FY7 6NN

REGISTERED NUMBER:

05979998 (England and Wales)

ACCOUNTANTS:

Xeinadin

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Intangible assets

4

51,000

50,000

Tangible assets

5

1,025,162

129,521

1,076,162

179,521

CURRENT ASSETS

Stocks

85,000

15,350

Debtors

6

761,632

978,091

Cash at bank

116,445

171,123

963,077

1,164,564

CREDITORS

Amounts falling due within one year

7

(1,499,657

)

(858,169

)

NET CURRENT (LIABILITIES)/ASSETS

(536,580

)

306,395

TOTAL ASSETS LESS CURRENT LIABILITIES

539,582

485,916

PROVISIONS FOR LIABILITIES

(76,874

)

(32,381

)

NET ASSETS

462,708

453,535

CAPITAL AND RESERVES

Called up share capital

4

2

Retained earnings

462,704

453,533

462,708

453,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

K P Hayton - Director

1.	STATUTORY INFORMATION

Midland Fish Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill relates to the acquisition of business over and above the fair value of the net assets acquired. Goodwill is amortised over a useful economic life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the remaining period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

30% on reducing balance

Government grants

A Government grant was received from the Department for Environment, Food and Rural Affairs during the period. This grant was capital in nature and credited to a deferral account to be released to the profit and loss account over the expected useful life of the relevant asset.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2024 - 52 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

255,000

Additions

15,000

At 31 March 2025

270,000

AMORTISATION

At 1 April 2024

205,000

Charge for year

14,000

At 31 March 2025

219,000

NET BOOK VALUE

At 31 March 2025

51,000

At 31 March 2024

50,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

-

400,596

400,596

Additions

518,343

716,915

1,235,258

Disposals

-

(148,542

)

(148,542

)

At 31 March 2025

518,343

968,969

1,487,312

DEPRECIATION

At 1 April 2024

-

271,075

271,075

Charge for year

103,669

213,237

316,906

Eliminated on disposal

-

(125,831

)

(125,831

)

At 31 March 2025

103,669

358,481

462,150

NET BOOK VALUE

At 31 March 2025

414,674

610,488

1,025,162

At 31 March 2024

-

129,521

129,521

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

639,396

524,315

Other debtors

1,577

338,149

Tax

24,087

-

VAT

10,716

24,427

Prepayments and accrued income

85,856

91,200

761,632

978,091

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

-

2,612

Trade creditors

801,564

619,282

Tax

-

77,047

Social security and other taxes

19,431

28,457

Other creditors

14,979

13,319

Unamortised grant

582,960

-

Directors' current accounts

24,871

40,016

Accruals and deferred income

55,852

77,436

1,499,657

858,169

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

-

2,612

Total operating lease commitments at the year end date are £464,441.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 were paid to the directors .