Fillet Fish Limited 05373818 false 2025-03-01 2026-02-28 2026-02-28 The principal activity of the company is fish processing and wholesaling Digita Accounts Production Advanced 6.30.9574.0 true 05373818 2025-03-01 2026-02-28 05373818 2026-02-28 05373818 bus:OrdinaryShareClass1 2026-02-28 05373818 core:RetainedEarningsAccumulatedLosses 2026-02-28 05373818 core:ShareCapital 2026-02-28 05373818 core:CurrentFinancialInstruments 2026-02-28 05373818 core:CurrentFinancialInstruments core:WithinOneYear 2026-02-28 05373818 core:FurnitureFittingsToolsEquipment 2026-02-28 05373818 core:MotorVehicles 2026-02-28 05373818 bus:SmallEntities 2025-03-01 2026-02-28 05373818 bus:AuditExemptWithAccountantsReport 2025-03-01 2026-02-28 05373818 bus:FilletedAccounts 2025-03-01 2026-02-28 05373818 bus:SmallCompaniesRegimeForAccounts 2025-03-01 2026-02-28 05373818 bus:RegisteredOffice 2025-03-01 2026-02-28 05373818 bus:Director2 2025-03-01 2026-02-28 05373818 bus:Director3 2025-03-01 2026-02-28 05373818 bus:OrdinaryShareClass1 2025-03-01 2026-02-28 05373818 bus:PrivateLimitedCompanyLtd 2025-03-01 2026-02-28 05373818 core:Buildings 2025-03-01 2026-02-28 05373818 core:FurnitureFittingsToolsEquipment 2025-03-01 2026-02-28 05373818 core:Land 2025-03-01 2026-02-28 05373818 core:MotorVehicles 2025-03-01 2026-02-28 05373818 core:PlantMachinery 2025-03-01 2026-02-28 05373818 countries:England 2025-03-01 2026-02-28 05373818 2025-02-28 05373818 core:FurnitureFittingsToolsEquipment 2025-02-28 05373818 core:MotorVehicles 2025-02-28 05373818 2024-03-01 2025-02-28 05373818 2025-02-28 05373818 bus:OrdinaryShareClass1 2025-02-28 05373818 core:RetainedEarningsAccumulatedLosses 2025-02-28 05373818 core:ShareCapital 2025-02-28 05373818 core:CurrentFinancialInstruments 2025-02-28 05373818 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 05373818 core:FurnitureFittingsToolsEquipment 2025-02-28 05373818 core:MotorVehicles 2025-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05373818

Fillet Fish Limited
trading as Prime Processors
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2026

Fillet Fish Limited
trading as Prime Processors

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 7

Fillet Fish Limited
trading as Prime Processors

(Registration number: 05373818)
Balance Sheet as at 28 February 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 124,323 | 178,655
Investment property | 5 | 118,886 | 267,842
|  | 243,209 | 446,497
Current assets |  |  |
Stocks | 6 | 111,718 | 124,367
Debtors | 7 | 1,366,171 | 1,238,757
Cash at bank and in hand |  | 109,138 | 77,005
|  | 1,587,027 | 1,440,129
Creditors: Amounts falling due within one year | 8 | (851,193) | (819,193)
Net current assets |  | 735,834 | 620,936
Total assets less current liabilities |  | 979,043 | 1,067,433
Provisions for liabilities |  | (31,628) | (44,664)
Net assets |  | 947,415 | 1,022,769
Capital and reserves |  |  |
Called up share capital | 9 | 100 | 100
Retained earnings |  | 947,315 | 1,022,669
Shareholders' funds |  | 947,415 | 1,022,769

For the financial year ending 28 February 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 21 May 2026 and signed on its behalf by:

Fillet Fish Limited
trading as Prime Processors

(Registration number: 05373818)
Balance Sheet as at 28 February 2026

......................................... S A Walker Director
......................................... C Walker Director

Fillet Fish Limited
trading as Prime Processors

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1 | General information

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

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
150 English Street
Hull
HU3 2BT

These financial statements were authorised for issue by the Board on 21 May 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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.

Government grants

Government grants are recognised in the Profit and Loss Account and Statement of Retained Earnings on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate. The company has not received any grants with performance related conditions.

Fillet Fish Limited
trading as Prime Processors

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Land | No depreciation
Buildings | 50 years straight line
Plant and machinery | 10%, 15%, 25% and 33% straight line
Motor vehicles | 25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Fillet Fish Limited
trading as Prime Processors

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Fillet Fish Limited
trading as Prime Processors

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

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.

3 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 39 (2025 - 37).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 March 2025 | 754,019 | 83,270 | 837,289
Additions | 4,270 | - | 4,270
At 28 February 2026 | 758,289 | 83,270 | 841,559
Depreciation
At 1 March 2025 | 620,191 | 38,443 | 658,634
Charge for the year | 41,033 | 17,569 | 58,602
At 28 February 2026 | 661,224 | 56,012 | 717,236
Carrying amount
At 28 February 2026 | 97,065 | 27,258 | 124,323
At 28 February 2025 | 133,828 | 44,827 | 178,655

5 | Investment properties

| 2026 £
At 1 March | 267,842
Disposals | (148,956)
At 28 February | 118,886

There has been no valuation of investment property by an independent valuer.

6 | Stocks

| 2026 £ | 2025 £
Finished goods and goods for resale | 111,718 | 124,367

Fillet Fish Limited
trading as Prime Processors

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

7 | Debtors

Current | Note | 2026 £ | 2025 £
Trade debtors |  | 1,084,602 | 1,014,771
Amounts owed by related parties |  | 116,095 | 44,100
Prepayments |  | 16,023 | 13,930
Other debtors |  | 149,451 | 165,956
|  | 1,366,171 | 1,238,757

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings | 10 | 28,796 | 19,809
Trade creditors |  | 666,248 | 715,020
Taxation and social security |  | 118,099 | 46,814
Accruals and deferred income |  | 38,050 | 37,550
|  | 851,193 | 819,193

9 | Share capital

Allotted, called up and fully paid shares

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

10 | Loans and borrowings

Current loans and borrowings

| 2026 £ | 2025 £
Other borrowings | 28,796 | 19,809