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REGISTERED NUMBER: SC556457 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FISHING 4 LIFE LTD

FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,281 1,963
1,281 1,963

CURRENT ASSETS
Stocks 6 113,191 101,191
Cash at bank 1,619 934
114,810 102,125
CREDITORS
Amounts falling due within one year 7 149,733 136,610
NET CURRENT LIABILITIES (34,923 ) (34,485 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,642

)

(32,522

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (33,643 ) (32,523 )
(33,642 ) (32,522 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)

BALANCE SHEET - continued
29 February 2024



The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





Mrs T J Robertson - Director


FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Fishing 4 Life Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC556457

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
G65 0NH

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.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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

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.


FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 42,500
AMORTISATION
At 1 March 2023
and 29 February 2024 42,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

FISHING 4 LIFE LTD (REGISTERED NUMBER: SC556457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 13,663
DEPRECIATION
At 1 March 2023 11,700
Charge for year 682
At 29 February 2024 12,382
NET BOOK VALUE
At 29 February 2024 1,281
At 28 February 2023 1,963

6. STOCKS
29.2.24 28.2.23
£    £   
Stocks 113,191 101,191

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Social security and other taxes 1 -
Directors' current accounts 148,852 135,486
Accrued expenses 880 1,124
149,733 136,610