Pysgod Y Mor Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12429225

Pysgod Y Mor Ltd

Filleted Unaudited Financial Statements

31 January 2026

Pysgod Y Mor Ltd

Financial Statements

Year ended 31 January 2026

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 4

Pysgod Y Mor Ltd

Statement of Financial Position

31 January 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	4	22,408	21,987

Current assets

Debtors	5	2,234	1,290
Cash at bank and in hand		2,285	432
		-------	-------
		4,519	1,722

Creditors: amounts falling due within one year	6	( 71,814)	( 63,026)
		--------	--------
Net current liabilities		( 67,295)	( 61,304)
		--------	--------
Total assets less current liabilities		( 44,887)	( 39,317)

Creditors: amounts falling due after more than one year	7	–	( 10,583)
		--------	--------
Net liabilities		( 44,887)	( 49,900)
		--------	--------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		( 44,888)	( 49,901)
		--------	--------
Shareholders deficit		( 44,887)	( 49,900)
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 1 June 2026 , and are signed on behalf of the board by:

Mr M Devonald
Director

Company registration number: 12429225

Pysgod Y Mor Ltd

Notes to the Financial Statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Brynteg, St Davids, Haverfordwest, Pembrokeshire, SA62 6SQ, Wales.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 February 2025	34,859	4,350	39,209
Additions	–	3,700	3,700
	--------	-------	--------
At 31 January 2026	34,859	8,050	42,909
	--------	-------	--------
Depreciation
At 1 February 2025	13,904	3,318	17,222
Charge for the year	2,096	1,183	3,279
	--------	-------	--------
At 31 January 2026	16,000	4,501	20,501
	--------	-------	--------
Carrying amount
At 31 January 2026	18,859	3,549	22,408
	--------	-------	--------
At 31 January 2025	20,955	1,032	21,987
	--------	-------	--------

5. Debtors

	2026	2025
	£	£
Trade debtors	454	–
Other debtors	1,780	1,290
	-------	-------
	2,234	1,290
	-------	-------

Other debtors include an amount of £nil (2025 - £nil) falling due after more than one year.

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loan (secured)	–	5,000
Trade creditors	2,693	1,073
Other creditors	69,121	56,953
	--------	--------
	71,814	63,026
	--------	--------

7. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loan (secured)	–	10,583
	----	--------

8. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

9. Related party transactions

The company was under the control of Mr M Devonald , the managing director, throughout the current and previous year by virtue of his majority shareholding. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.