IRIS Accounts Production v18.1.2.30 SC045977 Board of Directors 1.10.16 30.9.17 30.9.17 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC0459772016-09-30SC0459772017-09-30SC0459772016-10-012017-09-30SC0459772015-09-30SC0459772015-10-012016-09-30SC0459772016-09-30SC045977ns15:Scotland2016-10-012017-09-30SC045977ns14:PoundSterling2016-10-012017-09-30SC045977ns10:Director12016-10-012017-09-30SC045977ns10:PrivateLimitedCompanyLtd2016-10-012017-09-30SC045977ns10:SmallEntities2016-10-012017-09-30SC045977ns10:AuditExempt-NoAccountantsReport2016-10-012017-09-30SC045977ns10:SmallCompaniesRegimeForDirectorsReport2016-10-012017-09-30SC045977ns10:SmallCompaniesRegimeForAccounts2016-10-012017-09-30SC045977ns10:FullAccounts2016-10-012017-09-30SC04597712016-10-012017-09-30SC045977ns10:Director22016-10-012017-09-30SC045977ns10:Director32016-10-012017-09-30SC045977ns10:CompanySecretary12016-10-012017-09-30SC045977ns10:RegisteredOffice2016-10-012017-09-30SC045977ns5:CurrentFinancialInstruments2017-09-30SC045977ns5:CurrentFinancialInstruments2016-09-30SC045977ns5:ShareCapital2017-09-30SC045977ns5:ShareCapital2016-09-30SC045977ns5:FurtherSpecificReserve3ComponentTotalEquity2017-09-30SC045977ns5:FurtherSpecificReserve3ComponentTotalEquity2016-09-30SC045977ns5:RetainedEarningsAccumulatedLosses2017-09-30SC045977ns5:RetainedEarningsAccumulatedLosses2016-09-30SC045977ns5:NetGoodwill2016-10-012017-09-30SC045977ns5:IntangibleAssetsOtherThanGoodwill2016-10-012017-09-30SC045977ns5:LandBuildings2016-10-012017-09-30SC045977ns5:PlantMachinery2016-10-012017-09-30SC045977ns5:NetGoodwill2016-09-30SC045977ns5:NetGoodwill2017-09-30SC045977ns5:NetGoodwill2016-09-30SC045977ns5:LandBuildings2016-09-30SC045977ns5:PlantMachinery2016-09-30SC045977ns5:LandBuildings2017-09-30SC045977ns5:PlantMachinery2017-09-30SC045977ns5:LandBuildings2016-09-30SC045977ns5:PlantMachinery2016-09-30SC045977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-09-30SC045977ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-09-30SC045977ns5:FurtherSpecificReserve3ComponentTotalEquity2016-09-30


REGISTERED NUMBER: SC045977 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2017

for

Agnews (Fishmongers) Limited

Agnews (Fishmongers) Limited (Registered number: SC045977)






Contents of the Financial Statements
for the Year Ended 30 September 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Agnews (Fishmongers) Limited

Company Information
for the Year Ended 30 September 2017







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

Agnews (Fishmongers) Limited (Registered number: SC045977)

Balance Sheet
30 September 2017

30.9.17 30.9.16
Notes £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 5,389 5,674
Investment property 5 580,210 524,952
585,599 530,626

CURRENT ASSETS
Stocks 280 280
Debtors 6 4,897 5,521
Cash at bank and in hand 2,613 4,394
7,790 10,195
CREDITORS
Amounts falling due within one year 7 (55,050 ) (42,415 )
NET CURRENT LIABILITIES (47,260 ) (32,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

538,339

498,406

PROVISIONS FOR LIABILITIES (5,466 ) (4,588 )
NET ASSETS 532,873 493,818

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 367,746 313,907
Retained earnings 165,125 179,909
SHAREHOLDERS' FUNDS 532,873 493,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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.

Agnews (Fishmongers) Limited (Registered number: SC045977)

Balance Sheet - continued
30 September 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 August 2018 and were signed on its behalf by:





B G Corrigan - Director


Agnews (Fishmongers) Limited (Registered number: SC045977)

Notes to the Financial Statements
for the Year Ended 30 September 2017

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the
date of transition to FRS 102 Section 1A is 1 October 2015.

FRS 102 1A Small Entities requires investment properties to be reported at fair value, with any movements being
recognised in the profit and loss account. Prior to this, under UK GAAP, investment properties were
held at cost with any movements being held within reserves.

FRS 102 1A Small Entities requires deferred tax has to be provided for on all timing differences.

The impact of these changes can be seen on pages 11-13 of the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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

Investment property
Investment properties are held at fair value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Agnews (Fishmongers) Limited (Registered number: SC045977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

2. ACCOUNTING POLICIES - continued

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. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2016 121,000
Disposals (121,000 )
At 30 September 2017 -
AMORTISATION
At 1 October 2016 121,000
Eliminated on disposal (121,000 )
At 30 September 2017 -
NET BOOK VALUE
At 30 September 2017 -
At 30 September 2016 -

Agnews (Fishmongers) Limited (Registered number: SC045977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2016
and 30 September 2017 29,719 6,915 36,634
DEPRECIATION
At 1 October 2016 24,052 6,908 30,960
Charge for year 283 2 285
At 30 September 2017 24,335 6,910 31,245
NET BOOK VALUE
At 30 September 2017 5,384 5 5,389
At 30 September 2016 5,667 7 5,674

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2016 524,952
Revaluations 55,258
At 30 September 2017 580,210
NET BOOK VALUE
At 30 September 2017 580,210
At 30 September 2016 524,952

Investment properties have a historic cost of £160,119 (2016: £160,119).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Trade debtors 92 16
Other debtors 4,805 5,505
4,897 5,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.17 30.9.16
£    £   
Trade creditors 348 705
Other creditors 54,702 41,710
55,050 42,415

Agnews (Fishmongers) Limited (Registered number: SC045977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2017

8. RESERVES
Fair
value
reserve
£   
At 1 October 2016 313,907
Fair value 55,258
Deferred tax (1,419 )

At 30 September 2017 367,746