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COMPANY REGISTRATION NUMBER: SC335505
River Avon Fishing Association
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 December 2023
River Avon Fishing Association
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
River Avon Fishing Association
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
6
7,290
Cash at bank and in hand
41,478
53,126
--------
--------
48,768
53,126
Creditors: amounts falling due within one year
7
3,673
3,970
--------
--------
Net current assets
45,095
49,156
--------
--------
Total assets less current liabilities
45,095
49,156
--------
--------
Net assets
45,095
49,156
--------
--------
Capital and reserves
Profit and loss account
45,095
49,156
--------
--------
Members funds
45,095
49,156
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 February 2024 , and are signed on behalf of the board by:
W Davison
Chairman
Company registration number: SC335505
River Avon Fishing Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 50 Main Street, Tomintoul, Ballindalloch, Banffshire, AB37 9HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they have prepared the financial statements on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for bookings made for the use of fishing rights.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% - 50% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Company limited by guarantee
The company is limited by guarantee and does not have share capital. The liability of each member in the event of winding up is limited to £1.
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
340
340
----
----
Depreciation
At 1 January 2023 and 31 December 2023
340
340
----
----
Carrying amount
At 31 December 2023
----
----
At 31 December 2022
----
----
6. Debtors
2023
2022
£
£
Other debtors
7,290
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
3,673
3,970
-------
-------