BROW WELL FISHERIES LIMITED


Director	JOWETT, Jonathan Paul


Registered Address	Phoenix Cottage
	Hebden
	Skipton
	BD23 5DH


Registered Number	01516504 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2026

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life. The estimated useful lives range as follows: Goodwill - 10 years

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

The estimated useful lives range as follows:

Goodwill - 10 years

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Land and buildings are depreciated on a straight-line basis between 10 and 50 years.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

Land and buildings are depreciated on a straight-line basis between 10 and 50 years.


	Reducing balance (%)	Straight line (years)
Plant and machinery	-	3
Fixtures and fittings	-	4
Vehicles	25	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	14		12

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 February 25	120,000	120,000
At 31 January 26	120,000	120,000
Amortisation and impairment
At 01 February 25	120,000	120,000
At 31 January 26	120,000	120,000
Net book value
At 31 January 26	-	-
At 31 January 25	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 February 25	138,374	386,819	176,660	20,182	722,035
Additions	-	13,250	6,000	-	19,250
Disposals	-	(3,400)	-	-	(3,400)
At 31 January 26	138,374	396,669	182,660	20,182	737,885
Depreciation and impairment
At 01 February 25	107,409	385,032	134,221	20,182	646,844
Charge for year	-	18,802	-	-	18,802
On disposals	-	(3,400)	-	-	(3,400)
At 31 January 26	107,409	400,434	134,221	20,182	662,246
Net book value
At 31 January 26	30,965	(3,765)	48,439	-	75,639
At 31 January 25	30,965	1,787	42,439	-	75,191

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 February 25	2	2
At 31 January 26	2	2
Net book value
At 31 January 26	2	2
At 31 January 25	2	2

	Notes
	¹Investments in group undertakings and participating interests

6.	Stocks

	2026	2025
	£	£
Raw materials and consumables	356,720	269,930
Total	356,720	269,930

7.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	26,521	31,738
Other debtors	10,967	750
Total	37,488	32,488


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	87,269	6,101
Bank borrowings and overdrafts	21,007	7,808
Amounts owed to related parties	2	2
Taxation and social security	6,855	9,879
Finance lease and HP contracts	5,144	4,551
Other creditors	4,915	15,618
Accrued liabilities and deferred income	5,240	4,895
Total	130,432	48,854


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank loan is secured by fixed and floating charges over the undertaking and all property and assets present and future. Obligations under hire purchase contracts are secured upon the assets to which they relate.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

The bank loan is secured by fixed and floating charges over the undertaking and all property and assets present and future.

Obligations under hire purchase contracts are secured upon the assets to which they relate.

9.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	456	5,600
Total	456	5,600

10.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	5,600		10,150

11.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	12,440	11,844
Total	12,440	11,844

12.	Directors advances, credits and guarantees
	During the year the company advanced the director £29,150 and was repaid £11,000. At the year end the director owed the company £9,542 (2025: was owed £8,608 by the company.) The director repaid the loan in full after the year end.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		75,639		75,191
Investments	5		2		2
			75,641		75,193
Current assets
Stocks	6	356,720		269,930
Debtors	7	37,488		32,488
		394,208		302,418
Creditors amounts falling due within one year	8	(130,432)		(48,854)
Net current assets (liabilities)			263,776		253,564
Total assets less current liabilities			339,417		328,757
Creditors amounts falling due after one year	9		(456)		(5,600)
Provisions for liabilities	11		(12,440)		(11,844)
Net assets			326,521		311,313
Capital and reserves
Called up share capital			150		150
Profit and loss account			326,371		311,163
Shareholders' funds			326,521		311,313