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Registration number: 03819329

Allen's Fishing Tackle Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2022

 

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Company Information

Directors

Miss Emma Louise TrudI Smyth

Mr Shaun Edward Jones

Registered office

651 Bloxwich Road
Leamore
Walsall
West Midlands
WS3 2BQ

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

(Registration number: 03819329)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

4,196

4,193

Current assets

 

Stocks

210,247

179,298

Debtors

107,677

150,519

Cash at bank and in hand

 

3,257

5,564

 

321,181

335,381

Creditors: Amounts falling due within one year

(245,349)

(234,811)

Net current assets

 

75,832

100,570

Total assets less current liabilities

 

80,028

104,763

Creditors: Amounts falling due after more than one year

(65,127)

(48,867)

Net assets

 

14,901

55,896

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

14,899

55,894

Shareholders' funds

 

14,901

55,896

For the financial year ending 30 November 2022 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 18 January 2024 and signed on its behalf by:
 

.........................................
Mr Shaun Edward Jones
Director

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

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

The address of its registered office is:
651 Bloxwich Road
Leamore
Walsall
West Midlands
WS3 2BQ
England

These financial statements were authorised for issue by the Board on 18 January 2024.

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.

Tax

The tax expense for the period comprises current 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 income 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.

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 balance sheet 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

Improvements to property

25% on cost

Plant and machinery

25%on reducing balance

Fixtures and fittings

25%on reducing balance

Motor vehicles

25%on reducing balance

Computer equipment

25% on cost

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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:

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.

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 4 (2021 - 4).

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2021

14,333

14,333

At 30 November 2022

14,333

14,333

Amortisation

At 1 December 2021

14,333

14,333

At 30 November 2022

14,333

14,333

Carrying amount

At 30 November 2022

-

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 December 2021

3,120

26,781

231

291

Additions

-

1,400

-

-

At 30 November 2022

3,120

28,181

231

291

Depreciation

At 1 December 2021

2,256

24,310

231

291

Charge for the year

216

967

-

-

At 30 November 2022

2,472

25,277

231

291

Carrying amount

At 30 November 2022

648

2,904

-

-

At 30 November 2021

864

2,471

-

-

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2021

9,795

40,218

Additions

-

1,400

At 30 November 2022

9,795

41,618

Depreciation

At 1 December 2021

8,937

36,025

Charge for the year

214

1,397

At 30 November 2022

9,151

37,422

Carrying amount

At 30 November 2022

644

4,196

At 30 November 2021

858

4,193

Included within the net book value of land and buildings above is £648 (2021 - £864) in respect of freehold land and buildings.
 

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Dividends

   

2022

 

2021

   

£

 

£

Final dividend of £1.00 (2021 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2021 - £4.00) per ordinary share

 

-

 

12,000

   

-

 

12,000

         

8

Related party transactions

 

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

12,641

13,130

Summary of transactions with parent

The company is a wholly-owned subsidiary of Shaun Jones Ltd - at the balance sheet date the amount owed to its parent was £105,151 (2021 - £151,543).