Company No:
Contents
DIRECTORS | N George |
J Nowell | |
J Shannon |
REGISTERED OFFICE | Lowin House |
Tregolls Road | |
Truro | |
Cornwall | |
TR1 2NA | |
United Kingdom |
COMPANY NUMBER | 13955935 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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7,735 | 8,615 | |||
Current assets | ||||
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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47,956 | 153,331 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (70,668) | (3,007) | ||
Total assets less current liabilities | (62,933) | 5,608 | ||
Creditors: amounts falling due after more than one year | 7 |
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Provision for liabilities |
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Fisherman's Arms Newlyn Ltd (registered number:
N George
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Fisherman's Arms Newlyn Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £62,933. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company recognises revenue when:
The amount can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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Fixtures and fittings |
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Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Fixtures and fittings | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Stocks |
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2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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300 | 300 |
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
N George - Interest free loan | 5,769 | (32,900) |
During the year, Mr N George introduced funds amounting to £40,663 and withdrew funds totalling £79,332. At the balance sheet date the £5,769 was owed to the company.