Registered number: 06507901
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Albury Estate Fisheries (2008) Limited
Annual report and unaudited financial statements
31 March 2024
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Albury Estate Fisheries (2008) Limited
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Balance sheet
At 31 March 2024
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Fixed assets held for sale
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.
1
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Albury Estate Fisheries (2008) Limited
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Balance sheet (continued)
At 31 March 2024
Company registered number: 06507901
The notes on pages 3 to 6 form part of these financial statements.
2
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Albury Estate Fisheries (2008) Limited
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Notes to the financial statements
Year ended 31 March 2024
Albury Estate Fisheries (2008) Limited (06507901) is a private company limited by shares and
incorporated in England. Its registered office is Estates Office, Alnwick Castle, Alnwick, Northumberland,
NE66 1NQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Basis other than going concern
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The directors intend to cease the trading of Albury Estate Fisheries 2008 Limited and wind up the company within 12 months of the approval of these financial statements. The directors do not intend for the company to acquire or commence a replacement trade and therefore do not consider the company to be a going concern. Accordingly, the financial statements have been prepared on a basis other than going concern. No adjustments are required to the financial statements as a result of them being prepared on a basis other than that of a going concern.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3
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Albury Estate Fisheries (2008) Limited
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Notes to the financial statements
Year ended 31 March 2024
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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The average monthly number of employees, including directors, during the year was 5 (2023 - 6).
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4
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Albury Estate Fisheries (2008) Limited
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Notes to the financial statements
Year ended 31 March 2024
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Reclassified to held for sale
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Reclassified to held for sale
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Prepayments and accrued income
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5
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Albury Estate Fisheries (2008) Limited
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Notes to the financial statements
Year ended 31 March 2024
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Creditors: Amounts falling due within one year
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Amounts owed to associates
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Other taxation and social security
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Accruals and deferred income
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Other loans of £60,000 (2023: £60,000) are amounts owed to Albury Estate Fisheries, a related party company. The loan is repayable on demand and is interest free.
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Commitments under operating leases
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At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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R Melhuish, a director, is a partner of Albury Estate Fisheries.
At the year end a loan of £60,000 (2023: £60,000) was payable to Albury Estate Fisheries. The loan is
repayable on demand and is interest free.
Earl Percy is a beneficiary of the Will of the 9th Duke of Northumberland Trust.
Included within other creditors are directors loans of £9,950 (2023: £9,950) due to R Melhuish and
£9,950 (2023: £9,950) due to Earl Percy. The loans are repayable on demand and interest free.
6
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