Registered number
07147690
Fishermania Limited
Report and Accounts
30 April 2024
Fishermania Limited
Report to the directors on the preparation of the unaudited statutory accounts of Fishermania Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fishermania Limited for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
31 October 2024
Fishermania Limited
Registered number: 07147690
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,792 31,991
Current assets
Stocks 254,864 301,705
Debtors 4 3,735 3,735
Cash at bank and in hand 18,345 15,370
276,944 320,810
Creditors: amounts falling due within one year 5 (244,113) (249,868)
Net current assets 32,831 70,942
Total assets less current liabilities 50,623 102,933
Creditors: amounts falling due after more than one year 6 (236,979) (236,979)
Net liabilities (186,356) (134,046)
Capital and reserves
Called up share capital 99 99
Profit and loss account (186,455) (134,145)
Shareholders' funds (186,356) (134,046)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Newton
Director
Approved by the board on 31 October 2024
Fishermania Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 20% reducing balance and in accordance with the lease term
IT equipment 33% reducing balance
Fixtures and fittings 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation ```
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 21,412 97,886 80,610 199,908
At 30 April 2024 21,412 97,886 80,610 199,908
Depreciation
At 1 May 2023 19,293 87,269 61,355 167,917
Charge for the year 707 3,864 9,628 14,199
At 30 April 2024 20,000 91,133 70,983 182,116
Net book value
At 30 April 2024 1,412 6,753 9,627 17,792
At 30 April 2023 2,119 10,617 19,255 31,991
4 Debtors 2024 2023
£ £
Other debtors 3,735 3,735
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,758 7,758
Trade creditors 27,162 45,162
Other taxes and social security costs 8,039 5,831
Other creditors 201,154 191,117
244,113 249,868
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 11,979 11,979
Other creditors 225,000 225,000
236,979 236,979
7 Other information
Fishermania Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
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