Company Registration No. SC629488 (Scotland)
Everfish Limited
Unaudited accounts
for the period from 3 May 2019 to 31 March 2020
Everfish Limited
Unaudited accounts
Contents
Everfish Limited
Company Information
for the period from 3 May 2019 to 31 March 2020
Director
Dr Robert Douglas Stewart
Company Number
SC629488 (Scotland)
Registered Office
Caledonian Exchange
19a Canning Street
Edinburgh
EH3 8HE
Scotland
Accountants
Allsquare (Edinburgh) Ltd
Federation House
222-224 Queensferry Road
Edinburgh
EH4 2BN
Everfish Limited
Statement of financial position
as at 31 March 2020
Cash at bank and in hand
92,945
Creditors: amounts falling due within one year
(1,535,384)
Net current liabilities
(1,442,439)
Called up share capital
100
Profit and loss account
(127,051)
Shareholders' funds
(126,951)
For the period ending 31 March 2020 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 7 December 2020 and were signed on its behalf by
Dr Robert Douglas Stewart
Director
Company Registration No. SC629488
Everfish Limited
Notes to the Accounts
for the period from 3 May 2019 to 31 March 2020
Everfish Limited is a private company, limited by shares, registered in Scotland, registration number SC629488. The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, Scotland.
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 been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements have been prepared on a going concern basis. The coronavirus impacted global capital markets significantly in March 2020 but having considered the impact of heightened market volatility since the outbreak, the director does not believe the company's going concern status is affected.
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:
Fixtures & fittings
5 years straight line
Computer equipment
3 years straight line
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.
Investments in shares are included at fair value. Changes in fair value are recognised in profit or loss.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Everfish Limited
Notes to the Accounts
for the period from 3 May 2019 to 31 March 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 March 2020
868
245
1,113
Charge for the period
174
82
256
At 31 March 2020
174
82
256
At 31 March 2020
694
163
857
5
Investments
Other investments
Fair value adjustments
(124,595)
Valuation at 31 March 2020
1,314,631
If listed investments had not been revalued they would have been included at the following historical cost:
Period ended 31 March 2020: £1,439,226
6
Creditors: amounts falling due within one year
2020
Loans from directors
1,533,584
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Shares issued during the period:
100 Ordinary shares of £1 each
100
8
Transactions with related parties
Included within 'Loans from directors' is an amount of £1,533,584 due to the director, Dr Robert Douglas Stewart, by the company. The loan is interest free and has no terms for repayment.
Everfish Limited
Notes to the Accounts
for the period from 3 May 2019 to 31 March 2020
9
Average number of employees
During the period the average number of employees was 0.