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Registration number: 04712449

Direct Fish Limited
trading as Out of The Blue Fish
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

Direct Fish Limited
trading as Out of The Blue Fish

Contents

Company Information | 1
Statement of Financial Position | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Direct Fish Limited
trading as Out of The Blue Fish

Company Information

Directors | Mr David Roy Yarwood Mr William Yarwood

Company secretary | Mrs Emma Yarwood

Registered office | C/o Bright Partnership 26 Edward Court Altrincham England WA14 5GL

Accountants | Bright Partnership Limited Unit 26 Edward Court Broadheath Altrincham England WA14 5GL

Direct Fish Limited
trading as Out of The Blue Fish

(Registration number: 04712449)
Statement of Financial Position as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 5 | 18,167 | 22,771
Current assets |  |  |
Stocks |  | 12,978 | 10,250
Debtors | 6 | 80,411 | 102,520
Cash at bank and in hand |  | 1,267,673 | 1,211,242
|  | 1,361,062 | 1,324,012
Creditors: Amounts falling due within one year | 7 | (171,196) | (188,664)
Net current assets |  | 1,189,866 | 1,135,348
Total assets less current liabilities |  | 1,208,033 | 1,158,119
Provisions for liabilities |  | (4,542) | (5,692)
Net assets |  | 1,203,491 | 1,152,427
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 1,203,391 | 1,152,327
Shareholders' funds |  | 1,203,491 | 1,152,427

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 April 2026 and signed on its behalf by:

Direct Fish Limited
trading as Out of The Blue Fish

(Registration number: 04712449)
Statement of Financial Position as at 31 March 2026

......................................... Mr David Roy Yarwood Director
......................................... Mr William Yarwood Director

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/o Bright Partnership
26 Edward Court
Altrincham
WA14 5GL
England

These financial statements were authorised for issue by the Board on 30 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Investment to Property | 10% Straight Line
Fixture and Fittings | 15% Reducing Balance
Motor Vehicles | 25% Reducing Balance
Plant & Machinery | 15% Reducing Balance
Computer equipment | 25% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its useful life of ten years.

Asset class | Amortisation method and rate
Goodwill | NIL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2025 - 7).

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2025 | 25,000 | 25,000
At 31 March 2026 | 25,000 | 25,000
Amortisation
At 1 April 2025 | 25,000 | 25,000
At 31 March 2026 | 25,000 | 25,000
Carrying amount
At 31 March 2026 | - | -

5 | Tangible assets

| Freehold property £ | Plant and machinery £ | Fixtures and fittings £ | Motor vehicles £
Cost or valuation
At 1 April 2025 | 75,295 | 3,954 | 80,000 | 25,607
At 31 March 2026 | 75,295 | 3,954 | 80,000 | 25,607
Depreciation
At 1 April 2025 | 75,295 | 1,831 | 69,353 | 16,117
Charge for the year | - | 319 | 1,597 | 2,373
At 31 March 2026 | 75,295 | 2,150 | 70,950 | 18,490
Carrying amount
At 31 March 2026 | - | 1,804 | 9,050 | 7,117
At 31 March 2025 | - | 2,123 | 10,647 | 9,490

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

| Computer equipment £ | Total £
Cost or valuation
At 1 April 2025 | 3,422 | 188,278
At 31 March 2026 | 3,422 | 188,278
Depreciation
At 1 April 2025 | 2,911 | 165,507
Charge for the year | 315 | 4,604
At 31 March 2026 | 3,226 | 170,111
Carrying amount
At 31 March 2026 | 196 | 18,167
At 31 March 2025 | 511 | 22,771

Direct Fish Limited
trading as Out of The Blue Fish

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6 | Debtors

Current | 2026 £ | 2025 £
Trade debtors | 71,576 | 94,908
Prepayments | 4,000 | 3,856
Other debtors | 4,835 | 3,756
| 80,411 | 102,520

7 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Due within one year |  |
Trade creditors | 66,170 | 75,567
Taxation and social security | 70,631 | 94,892
Accruals and deferred income | 4,300 | 4,050
Other creditors | 30,095 | 14,155
| 171,196 | 188,664

8 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100