Achilles Fishing Limited |
Notes to the Accounts |
for the year ended 31 July 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from leasing of fishing quota. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. As the market value of the only fixed asset exceeds the book value, no depreciation or impairment is deemed necessary by the directors. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 August 2022 |
165,700 |
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At 31 July 2023 |
165,700 |
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Depreciation |
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At 31 July 2023 |
- |
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Net book value |
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At 31 July 2023 |
165,700 |
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At 31 July 2022 |
165,700 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
78,000 |
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66,000 |
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Other debtors |
187,234 |
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187,234 |
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265,234 |
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253,234 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
11,344 |
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6,117 |
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Other creditors |
123,930 |
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112,940 |
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135,274 |
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119,057 |
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6 |
Other information |
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Achilles Fishing Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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16 Irvington Avenue |
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Kilkeel |
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Co.Down |
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BT34 4BH |