1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04344576 2023-01-01 2023-12-31 04344576 2023-12-31 04344576 2022-12-31 04344576 2022-01-01 2022-12-31 04344576 2022-12-31 04344576 2021-12-31 04344576 core:FurnitureFittings 2023-01-01 2023-12-31 04344576 core:MotorVehicles 2023-01-01 2023-12-31 04344576 bus:Director1 2023-01-01 2023-12-31 04344576 core:PlantMachinery 2022-12-31 04344576 core:FurnitureFittings 2022-12-31 04344576 core:PlantMachinery 2023-12-31 04344576 core:FurnitureFittings 2023-12-31 04344576 core:MotorVehicles 2023-12-31 04344576 core:PlantMachinery 2023-01-01 2023-12-31 04344576 core:AfterOneYear 2023-12-31 04344576 core:AfterOneYear 2022-12-31 04344576 core:WithinOneYear 2023-12-31 04344576 core:WithinOneYear 2022-12-31 04344576 core:ShareCapital 2023-12-31 04344576 core:ShareCapital 2022-12-31 04344576 core:RetainedEarningsAccumulatedLosses 2023-12-31 04344576 core:RetainedEarningsAccumulatedLosses 2022-12-31 04344576 core:PlantMachinery 2022-12-31 04344576 bus:SmallEntities 2023-01-01 2023-12-31 04344576 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04344576 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04344576 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04344576 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 04344576
World Sport Fishing Limited
Filleted Unaudited Financial Statements
31 December 2023
World Sport Fishing Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
13,081
3,439
Current assets
Stocks
36,600
30,000
Debtors
6
116,753
184,464
Cash at bank and in hand
20,743
15,309
---------
---------
174,096
229,773
Creditors: amounts falling due within one year
7
98,170
177,073
---------
---------
Net current assets
75,926
52,700
--------
--------
Total assets less current liabilities
89,007
56,139
Creditors: amounts falling due after more than one year
8
30,000
30,000
--------
--------
Net assets
59,007
26,139
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
58,997
26,129
--------
--------
Shareholders funds
59,007
26,139
--------
--------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
World Sport Fishing Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 4 September 2024 , and are signed on behalf of the board by:
Mr R J Sheard
Director
Company registration number: 04344576
World Sport Fishing Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tythe Farm, Staploe Road, Wyboston, Bedford, Bedfordshire, MK44 3AT.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
The taxation expense represents the aggregate amount of current and deferred 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery
-
at varying rates on a straight line basis
Fixtures and fittings
-
20% straight line
Motor vehicles
-
10% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
87,620
6,554
94,174
Additions
195
11,000
11,195
--------
-------
--------
---------
At 31 December 2023
87,620
6,749
11,000
105,369
--------
-------
--------
---------
Depreciation
At 1 January 2023
84,181
6,554
90,735
Charge for the year
1,451
10
92
1,553
--------
-------
--------
---------
At 31 December 2023
85,632
6,564
92
92,288
--------
-------
--------
---------
Carrying amount
At 31 December 2023
1,988
185
10,908
13,081
--------
-------
--------
---------
At 31 December 2022
3,439
3,439
--------
-------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
52,841
69,721
Other debtors
63,912
114,743
---------
---------
116,753
184,464
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,786
1,192
Corporation tax
6,416
5,067
Other creditors
87,968
170,814
--------
---------
98,170
177,073
--------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,000
30,000
--------
--------