REGISTERED NUMBER: 00116401 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

STOCKBRIDGE FISHERY ASSOCIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A McN Boyd Esq

D J Morrison Esq

Sir P A Le Marchant Bt.

A G R Windham Esq CVO

SECRETARY:

Martin and Company (Company Secretaries) Limited

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

00116401 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

BANKERS:

C Hoare & Co

37 Fleet St

London

EC4P 4DQ

FIXED ASSETS

Tangible assets

4

1,031,802

1,044,948

Investment property

5

1,334,000

1,334,000

2,365,802

2,378,948

CURRENT ASSETS

Stocks

114,629

111,106

Debtors

6

153,649

19,979

Cash at bank and in hand

124,405

488,729

392,683

619,814

CREDITORS

Amounts falling due within one year

7

119,438

159,929

NET CURRENT ASSETS

273,245

459,885

TOTAL ASSETS LESS CURRENT LIABILITIES

2,639,047

2,838,833

CREDITORS

Amounts falling due after more than one year

8

-

(211,235

)

PROVISIONS FOR LIABILITIES

(135,096

)

(135,096

)

NET ASSETS

2,503,951

2,492,502

CAPITAL AND RESERVES

Called up share capital

7

7

Share premium

34,723

34,723

Gifts and legacies

269,293

269,293

Retained earnings

2,199,928

2,188,479

SHAREHOLDERS' FUNDS

2,503,951

2,492,502

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2024 and were signed on its behalf by:

A G R Windham Esq CVO - Director

1.	STATUTORY INFORMATION

Stockbridge Fishery Association Limited is a private company, limited by shares, registered in the United Kingdom. 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Subscriptions and membership fees are recognised when the company becomes legally entitled to the fees.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

at varying rates on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

A proportion of the freehold land and buildings in note 4 includes land which is not depreciated, the remainder of the buildings are depreciated at varying rates on cost from 2% to 10%.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

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

Gifts and legacies

Gifts and legacies, whether received in the year or transferred from debentures, are credited direct to the gifts and legacies reserve account on the balance sheet without being accounted for through the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2023

1,162,499

183,944

67,481

1,166

1,415,090

Additions

-

873

-

-

873

At 31st December 2023

1,162,499

184,817

67,481

1,166

1,415,963

DEPRECIATION

At 1st January 2023

136,740

166,222

66,307

873

370,142

Charge for year

10,480

2,471

875

193

14,019

At 31st December 2023

147,220

168,693

67,182

1,066

384,161

NET BOOK VALUE

At 31st December 2023

1,015,279

16,124

299

100

1,031,802

At 31st December 2022

1,025,759

17,722

1,174

293

1,044,948

The value of freehold land and buildings shown above included land and residential property totalling £911,478 (2022 £918,411).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2023

and 31st December 2023

1,334,000

NET BOOK VALUE

At 31st December 2023

1,334,000

At 31st December 2022

1,334,000

The valuation of the other remaining properties has been considered by the directors and from advice provided no increase in value has been included in the 2023 financial statements due to the current economic climate.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

14,935

4,776

Other debtors

138,714

15,203

153,649

19,979

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

14,704

Trade creditors

3,684

3,433

Other creditors

95,260

87,681

Accruals & deferred income

20,494

54,111

119,438

159,929

Included within other creditors are debentures that are unsecured and interest free. They will be redeemed in full on 31st December 2082 or earlier should the holder die, resign from the club or give the Secretary of the company twelve months written notice of request for repayment.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 2-5 years

-

61,815

Bank loans more than 5 years by instalment

-

149,420

-

211,235

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years by instalment

-

149,420

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

-

225,939