V.S Fisheries Ltd

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 6

V.S Fisheries Ltd

(Registration number: 07087757)
Statement of financial position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	119,390	142,970
Current assets
Stocks	6	67,784	63,470
Debtors	7	16,472	57,104
Cash at bank and in hand		463,089	369,412
		547,345	489,986
Creditors: Amounts falling due within one year	8	(249,450)	(212,337)
Net current assets		297,895	277,649
Total assets less current liabilities		417,285	420,619
Provisions for liabilities		(29,848)	(35,743)
Net assets		387,437	384,876
Capital and reserves
Called up share capital	9	100	100
Retained earnings		387,337	384,776
Shareholders' funds		387,437	384,876

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 Income statement.

Approved and authorised by the Board on 12 August 2026 and signed on its behalf by:
 

......................................... Mr V P Shears Director

V.S Fisheries Ltd

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.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 12 August 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

V.S Fisheries Ltd

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
Plant and machinery	Between 15% and 25% reducing balance
Fixtures and fittings	Straight line over the useful life of the asset
Motor vehicles	20% reducing balance
Computer equipment	25% reducing balance

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

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

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.

V.S Fisheries Ltd

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

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2025 - 3).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2025	20,000	20,000
At 31 March 2026	20,000	20,000
Amortisation
At 1 April 2025	20,000	20,000
At 31 March 2026	20,000	20,000
Carrying amount
At 31 March 2026	-	-

V.S Fisheries Ltd

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

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	81,945	249,357	4,545	72,584	408,431
Additions	-	3,335	-	-	3,335
Disposals	(7,050)	(920)	-	-	(7,970)
At 31 March 2026	74,895	251,772	4,545	72,584	403,796
Depreciation
At 1 April 2025	80,236	155,366	1,469	28,390	265,461
Charge for the year	(909)	17,615	641	8,891	26,238
Eliminated on disposal	(6,407)	(886)	-	-	(7,293)
At 31 March 2026	72,920	172,095	2,110	37,281	284,406
Carrying amount
At 31 March 2026	1,975	79,677	2,435	35,303	119,390
At 31 March 2025	1,709	93,991	3,076	44,194	142,970

6

Stocks

	2026 £	2025 £
Finished goods and goods for resale	67,784	63,470

7

Debtors

	2026 £	2025 £
Trade debtors	10,398	45,254
Prepayments	6,074	11,850
	16,472	57,104

V.S Fisheries Ltd

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

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	38,417	17,136
Taxation and social security	187,207	180,912
Accruals and deferred income	2,300	14,000
Other creditors	21,526	289
	249,450	212,337

9	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary A of £1 each	40	40	40	40
Ordinary B of £1 each	17	17	17	17
Ordinary C of £1 each	25	25	25	25
Ordinary D of £1 each	10	10	10	10
Ordinary E of £1 each	8	8	8	8
	100	100	100	100