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Registration number: 09450984

AKL Fishing Limited

Annual Report and Unaudited Financial Statements Year Ended 30 April 2023

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Chartered Accountants

 

AKL Fishing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

AKL Fishing Limited

Company Information

Directors

Mr Lloyd Harris

Mr Ashley Harris

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AKL Fishing Limitedfor the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AKL Fishing Limited for the year ended 30 April 2023 as set out on pages 3 to 7 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/regulation.

This report is made solely to the Board of Directors of AKL Fishing Limited, as a body, in accordance with the terms of our engagement letter dated 12 November 2019. Our work has been undertaken solely to prepare for your approval the accounts of AKL Fishing Limited and state those matters that we have agreed to state to the Board of Directors of AKL Fishing Limited, 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 AKL Fishing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AKL Fishing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AKL Fishing Limited. You consider that AKL Fishing Limited 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 AKL Fishing Limited. 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.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

16 October 2023

 

AKL Fishing Limited

(Registration number: 09450984)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

4,072

 

3,050

Current assets

   

 

Debtors

5

1,991

 

2,320

 

Cash at bank and in hand

 

30,491

 

17,954

 

 

32,482

 

20,274

 

Creditors: Amounts falling due within one year

6

(12,350)

 

(9,907)

 

Net current assets

   

20,132

 

10,367

Total assets less current liabilities

   

24,204

 

13,417

Provisions for liabilities

 

(775)

 

(579)

Net assets

   

23,429

 

12,838

Capital and reserves

   

 

Called up share capital

7

3

 

3

 

Retained earnings

23,426

 

12,835

 

Shareholders' funds

   

23,429

 

12,838

For the financial year ending 30 April 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2023 and signed on its behalf by:
 



Mr Ashley Harris
Director

 

AKL Fishing Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
85 East Weare Road
Portland
Dorset
DT5 1ET

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AKL Fishing Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Boats

10% straight line

Vehicles

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

AKL Fishing Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023

4

Tangible assets

Fishing Boats
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

9,500

15,366

3,050

27,916

Additions

-

665

2,050

2,715

At 30 April 2023

9,500

16,031

5,100

30,631

Depreciation

At 1 May 2022

6,650

15,166

3,050

24,866

Charge for the year

950

333

410

1,693

At 30 April 2023

7,600

15,499

3,460

26,559

Carrying amount

At 30 April 2023

1,900

532

1,640

4,072

At 30 April 2022

2,850

200

-

3,050

5

Debtors

Current

2023
£

2022
£

Prepayments

833

-

Other debtors

1,158

2,320

1,991

2,320

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,160

-

Taxation and social security

10,054

8,128

Accruals and deferred income

750

750

Other creditors

386

1,029

12,350

9,907

 

AKL Fishing Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

         

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £11,000.00 (2022 - £12,666.67) per each Ordinary share

 

33,000

 

38,000