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REGISTERED NUMBER: 07163689 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION
A COMPANY LIMITED BY GUARANTEE

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION (REGISTERED NUMBER: 07163689)
A COMPANY LIMITED BY GUARANTEE






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4

Report of the accountants 6

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION
A COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J Wilson
A J Winstone
J W Andrews
K Mould





REGISTERED OFFICE: Port Penrhyn
Bangor
Gwynedd
LL57 4HN





REGISTERED NUMBER: 07163689 (England and Wales)





ACCOUNTANTS: Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION (REGISTERED NUMBER: 07163689)
A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 4 31,101 15,474
Cash at bank 11,283 10,471
42,384 25,945
CREDITORS
Amounts falling due within one year 5 (24,901 ) (2,487 )
NET CURRENT ASSETS 17,483 23,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,483

23,458

RESERVES
Income and expenditure account 17,483 23,458
17,483 23,458

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 directors acknowledge their 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 surplus or deficit 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 MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION (REGISTERED NUMBER: 07163689)
A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET - continued
29 FEBRUARY 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





A J Winstone - Director


THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION (REGISTERED NUMBER: 07163689)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

The Menai Strait Fishery Order Management Association is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Income
Income represents amounts receivable for membership and the supervision of the North West fishery order.

£6,000 was received from Ynys Mon Council in regard to the Coastal Capacity Building Challenge Fund Project.

Taxation
The taxable income has been covered by allowable expenses which results in there being no net income chargeable to corporation tax.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 19,600 2,647

Amounts falling due after more than one year:
Trade debtors 11,501 12,827

Aggregate amounts 31,101 15,474

Outstanding lease fees are owed by Ogwen Mussel Limited £11,231 ( 28 February 2023 - £12,252) and Deepdock Limited £2,918 (28 February 2023 - £3,222). A seven year payment plan has been agreed with the Board, with amounts being paid in equal instalments and no interest charged.

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION (REGISTERED NUMBER: 07163689)
A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 23,301 887
Other creditors 1,600 1,600
24,901 2,487

6. TRANSACTIONS WITH DIRECTORS

MSFOMA were charged £16,890 ( 28 February 2023 - £18,149 ) by Andrews Ward James (AWJ) Limited for consultancy work, a company of which J. W. Andrews is a director and shareholder. Included in Trade creditors is £9,221 ( 28 February 2023 - £887 ) owed to Andrews Ward James (AWJ) Limited.

J. Wilson is a director and shareholder of Ogwen Mussel Limited, Deepdock Limited, Menai Mussels Limited and Mon Mariculture Limited These companies owe MSFOMA a total of £22,810 as of 29 February 2024 ( 28 February 2023 - £15,474 ). A seven year repayment plan has been agreed with the Board for the outstanding lease fees owed by Ogwen Mussel Limited and Deepdock Limited, the amounts being paid in equal instalments (per note 4 above).

K. Mould is a director and shareholder of Myti Mussels Limited and a director of Ogwen Mussel Limited. These companies owe MSFOMA a total of £16,779 as of 29 February 2024 ( 28 February 2023 - £12,252 ). A seven year repayment plan has been agreed with the Board for the outstanding lease fees owed by Ogwen Mussel Limited, the amounts being paid in equal instalments (per note 4 above).

7. LIMITED BY GUARANTEE

The company is limited by guarantee and the governance of the association is dealt with by the directors.

THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION
A COMPANY LIMITED BY GUARANTEE

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
THE MENAI STRAIT FISHERY ORDER
MANAGEMENT ASSOCIATION

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the accounts of The Menai Strait Fishery Order Management Association for the year ended 29 February 2024 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.






Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF


14 November 2024