Tiny Fish Company Ltd - Period Ending 2017-03-31

Registration number: 08959521

Tiny Fish Company Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Elver Consultancy Limited
1st Floor Offices
7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG

Tiny Fish Company Ltd

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 11

Tiny Fish Company Ltd

Company Information

Directors

Christopher Carman Kristina Melanie Carman

Company secretary

Christopher Carman

Registered office

Deep Hollow Golden Ball Lane Maidenhead SL6 6NW

Accountants

Elver Consultancy Limited 1st Floor Offices 7 Gerard Street Ashton-in-Makerfield Wigan WN4 9AG

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tiny Fish Company Ltd
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tiny Fish Company Ltd for the year ended 31 March 2017 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Tiny Fish Company Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tiny Fish Company Ltd and state those matters that we have agreed to state to the Board of Directors of Tiny Fish Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tiny Fish Company Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tiny Fish Company Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Tiny Fish Company Ltd. You consider that Tiny Fish Company Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tiny Fish Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Elver Consultancy Limited
1st Floor Offices
7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG

26 May 2017

Page 2

Tiny Fish Company Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2017

	Note	2017 £	2016 £
Loss for the year		(5,047)	(7,703)
Total comprehensive income for the year		(5,047)	(7,703)

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 3

Tiny Fish Company Ltd

(Registration number: 08959521)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Intangible assets	4	2,772	3,931
Tangible assets	5	715	1,280
		3,487	5,211
Current assets
Stocks	6	20,127	11,770
Debtors	7	47,060	-
Cash at bank and in hand		579	1,623
		67,766	13,393
Creditors: Amounts falling due within one year	8	(130,049)	(72,353)
Net current liabilities		(62,283)	(58,960)
Net liabilities		(58,796)	(53,749)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(58,797)	(53,750)
Total equity		(58,796)	(53,749)

For the financial year ending 31 March 2017 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 4

Tiny Fish Company Ltd

(Registration number: 08959521)
Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 26 May 2017 and signed on its behalf by:
 

.........................................

Christopher Carman

Company secretary and director

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 5

Tiny Fish Company Ltd

Statement of Changes in Equity for the Year Ended 31 March 2017

	Share capital £	Profit and loss account £	Total £
At 1 April 2016	1	(53,750)	(53,749)
Loss for the year	-	(5,047)	(5,047)
Total comprehensive income	-	(5,047)	(5,047)
At 31 March 2017	1	(58,797)	(58,796)

	Share capital £	Profit and loss account £	Total £
At 1 April 2015	1	(46,047)	(46,046)
Loss for the year	-	(7,703)	(7,703)
Total comprehensive income	-	(7,703)	(7,703)
At 31 March 2016	1	(53,750)	(53,749)

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 6

Tiny Fish Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales .

The address of its registered office is:
Deep Hollow
Golden Ball Lane
Maidenhead
SL6 6NW

These financial statements were authorised for issue by the Board on 26 May 2017.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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
Office equipment	25% straight line
Plant and machinery	25% straight line

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:

Asset class	Amortisation method and rate
Development costs	20% straight line

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.

Page 7

Tiny Fish Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 8

Tiny Fish Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 April 2016	5,495	5,495
At 31 March 2017	5,495	5,495
Amortisation
At 1 April 2016	1,564	1,564
Amortisation charge	1,159	1,159
At 31 March 2017	2,723	2,723
Carrying amount
At 31 March 2017	2,772	2,772
At 31 March 2016	3,931	3,931

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
 

Page 9

Tiny Fish Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

5	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2016	1,548	642	2,190
At 31 March 2017	1,548	642	2,190
Depreciation
At 1 April 2016	546	364	910
Charge for the year	404	161	565
At 31 March 2017	950	525	1,475
Carrying amount
At 31 March 2017	598	117	715
At 31 March 2016	1,002	278	1,280

6

Stocks

	2017 £	2016 £
Finished goods and goods for resale	20,127	11,770

7

Debtors

	2017 £	2016 £
Other debtors	47,060	-
Total current trade and other debtors	47,060	-

8

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		304	32
Taxation and social security		-	128
Director current account		129,745	71,189
Other creditors		-	1,004
		130,049	72,353

Page 10

Tiny Fish Company Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

9	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary Share of £1 each	1	1	1	1

10	Related party transactions

Summary of transactions with other related parties

Agesco London Limited a company in which the director has a 25% share holding.
 

Income and receivables from related parties

2017	Other related parties £
Interest received	9,254
Amounts receivable from related party	37,357

Expenditure with and payables to related parties

2016	Other related parties £
Amounts payable to related party	1,003

Page 11