Company Registration No. NI022603 (Northern Ireland)
Elmore Fish Limited
Unaudited accounts
for the year ended 31 August 2018
Elmore Fish Limited
Unaudited accounts
Contents
Elmore Fish Limited
Company Information
for the year ended 31 August 2018
Directors
Brian Elmore
Adrian Elmore
Company Number
NI022603 (Northern Ireland)
Registered Office
4 Springbank Industrial Estate
Pembroke Loop Road
Belfast
Co Antrim
BT17 0QL
Accountants
Beech Accounting Ltd
185 Magheralane Road
Randalstown
Antrim
BT41 2PH
Elmore Fish Limited
Statement of financial position
as at 31 August 2018
Tangible assets
48,828
62,404
Investment property
515,388
526,122
Cash at bank and in hand
58,010
55,439
Creditors: amounts falling due within one year
(461,949)
(406,828)
Net current liabilities
(91,633)
(60,247)
Total assets less current liabilities
472,583
528,279
Creditors: amounts falling due after more than one year
(315,183)
(362,526)
Provisions for liabilities
Deferred tax
(9,277)
(12,639)
Net assets
148,123
153,114
Called up share capital
4,000
4,000
Profit and loss account
144,123
149,114
Shareholders' funds
148,123
153,114
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 February 2019.
Brian Elmore
Director
Company Registration No. NI022603
Elmore Fish Limited
Notes to the Accounts
for the year ended 31 August 2018
Elmore Fish Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI022603. The registered office is 4 Springbank Industrial Estate, Pembroke Loop Road, Belfast, Co Antrim, BT17 0QL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straightline
Plant & machinery
20% straightline
Motor vehicles
25% reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Elmore Fish Limited
Notes to the Accounts
for the year ended 31 August 2018
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Elmore Fish Limited
Notes to the Accounts
for the year ended 31 August 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 September 2017
203,597
202,876
406,473
At 31 August 2018
206,845
202,876
409,721
At 1 September 2017
185,179
158,890
344,069
Charge for the year
5,827
10,997
16,824
At 31 August 2018
191,006
169,887
360,893
At 31 August 2018
15,839
32,989
48,828
At 31 August 2017
18,418
43,986
62,404
Fair value at 1 September 2017
526,122
Net loss from fair value adjustments
(10,734)
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided.
Raw materials
63,177
49,709
Trade debtors
220,814
212,288
Other debtors
28,315
29,145
Elmore Fish Limited
Notes to the Accounts
for the year ended 31 August 2018
8
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
174,826
162,711
Obligations under finance leases and hire purchase contracts
15,538
15,538
Trade creditors
241,432
212,972
Taxes and social security
20,606
10,314
Loans from directors
5,797
1,543
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Creditors: amounts falling due after more than one year
2018
2017
Bank loans
225,646
248,458
Obligations under finance leases and hire purchase contracts
10,530
25,185
Other creditors
79,007
88,883
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Average number of employees
During the year the average number of employees was 12 (2017: 12).
