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REGISTERED NUMBER: 06555379 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MANSFIELD AQUATICS LIMITED

MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANSFIELD AQUATICS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTORS: D T Ferry
Mrs E M Ferry





REGISTERED OFFICE: 191 Southwell Road West
Mansfield
NG18 4HF





REGISTERED NUMBER: 06555379 (England and Wales)





ACCOUNTANTS: N Williamson & Co
Chartered Certified Accountants
21 Potter Street
Worksop
Nottinghamshire
S80 2AE

MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,302 1,552
Tangible assets 5 33,665 39,967
34,967 41,519

CURRENT ASSETS
Stocks 53,576 53,002
Debtors 6 16,081 1,000
Cash at bank and in hand 41,457 54,596
111,114 108,598
CREDITORS
Amounts falling due within one year 7 50,656 35,334
NET CURRENT ASSETS 60,458 73,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,425

114,783

CREDITORS
Amounts falling due after more than one
year

8

(9,000

)

(13,000

)

PROVISIONS FOR LIABILITIES (6,396 ) (7,594 )

ACCRUALS AND DEFERRED INCOME (2,000 ) (2,500 )
NET ASSETS 78,029 91,689

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 77,029 90,689
SHAREHOLDERS' FUNDS 78,029 91,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





D T Ferry - Director


MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Mansfield Aquatics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 twenty 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.
Plant and machinery etc - Straight line over 5 years, Straight line over 10 years and Straight line over 4 years

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 5,000
AMORTISATION
At 1 April 2022 3,448
Charge for year 250
At 31 March 2023 3,698
NET BOOK VALUE
At 31 March 2023 1,302
At 31 March 2022 1,552

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 92,651
Additions 1,058
Disposals (756 )
At 31 March 2023 92,953
DEPRECIATION
At 1 April 2022 52,684
Charge for year 7,360
Eliminated on disposal (756 )
At 31 March 2023 59,288
NET BOOK VALUE
At 31 March 2023 33,665
At 31 March 2022 39,967

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 16,081 1,000

MANSFIELD AQUATICS LIMITED (REGISTERED NUMBER: 06555379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,108 10,528
Trade creditors 30,601 14,899
Taxation and social security 10,620 9,012
Other creditors 327 895
50,656 35,334

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,000 13,000

9. TRANSACTIONS WITH DIRECTORS

During the year ended 31 March 2023 sums were advanced to the directors, Mr D T Ferry and Mrs E M Ferry which constitute a beneficial loan upon which interest was charged at the official rate of interest for such loans. The maximum loan balance outstanding during the year amounted to £15,241 and the balance outstanding at the end of the year was £15,082 (2022 - £Nil). The whole of the beneficial loan was repaid in full on 6 April 2023.