Agnews (Fishmongers) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC045977 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2021

for

Agnews (Fishmongers) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Corrigan

S Corrigan

B G Corrigan

SECRETARY:

B G Corrigan

REGISTERED OFFICE:

184 Howard Street

Glasgow

G1 4HW

REGISTERED NUMBER:

SC045977 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

1,710

1,801

Investment property

5

444,500

444,500

446,210

446,301

CURRENT ASSETS

Debtors

6

58,443

40,183

Cash at bank

447

392

58,890

40,575

CREDITORS

Amounts falling due within one year

7

6,898

8,605

NET CURRENT ASSETS

51,992

31,970

TOTAL ASSETS LESS CURRENT LIABILITIES

498,202

478,271

PROVISIONS FOR LIABILITIES

34,343

34,343

NET ASSETS

463,859

443,928

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

8

250,038

250,038

Retained earnings

213,819

193,888

SHAREHOLDERS' FUNDS

463,859

443,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2022 and were signed on its behalf by:

B G Corrigan - Director

1.	STATUTORY INFORMATION

Agnews (Fishmongers) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

5% on reducing balance

Plant and machinery etc

-

20% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Investment property

Investment properties are held at fair value.

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2020

and 30 September 2021

14,410

6,915

21,325

DEPRECIATION

At 1 October 2020

12,611

6,913

19,524

Charge for year

90

1

91

At 30 September 2021

12,701

6,914

19,615

NET BOOK VALUE

At 30 September 2021

1,709

1

1,710

At 30 September 2020

1,799

2

1,801

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

and 30 September 2021

444,500

NET BOOK VALUE

At 30 September 2021

444,500

At 30 September 2020

444,500

Investment properties have a historic cost of £160,119 (2020: £160,119).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Other debtors

58,443

40,183

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

-

1,800

Taxation and social security

4,697

4,604

Other creditors

2,201

2,201

6,898

8,605

8.

RESERVES

Fair

value

reserve

£

At 1 October 2020

and 30 September 2021

250,038