Registered number
SC194095
Angling Active Limited
Unaudited Filleted Accounts
30 September 2024
Angling Active Limited
Registered number: SC194095
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 52,552 63,616
Current assets
Stocks 984,891 724,408
Debtors 4 31,081 35,784
Cash at bank and in hand 374,545 295,719
1,390,517 1,055,911
Creditors: amounts falling due within one year 5 (521,404) (303,954)
Net current assets 869,113 751,957
Total assets less current liabilities 921,665 815,573
Creditors: amounts falling due after more than one year 6 (14,956) (25,136)
Provisions for liabilities (7,588) (9,738)
Net assets 899,121 780,699
Capital and reserves
Called up share capital 108 108
Revaluation reserve 7 (9,980) (9,980)
Profit and loss account 908,993 790,571
Shareholders' funds 899,121 780,699
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.
Mr Christopher Grantham
Director
Approved by the board on 15 November 2024
Angling Active Limited
Notes to the Accounts
for the year ended 30 September 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Tenant's improvements 10% reducing balance
Plant and machinery 15% reducing balance/33% straight line
Fixtures, fittings, tools and equipment 15% 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Government grants
Grants received are accounted for on an accruals basis and are disclosed as other operating
income.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 17 13
3 Tangible fixed assets
Tenant's improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 85,648 134,183 26,800 246,631
Additions - 10,085 - 10,085
At 30 September 2024 85,648 144,268 26,800 256,716
Depreciation
At 1 October 2023 60,986 106,535 15,494 183,015
Charge for the year 2,466 15,857 2,826 21,149
At 30 September 2024 63,452 122,392 18,320 204,164
Net book value
At 30 September 2024 22,196 21,876 8,480 52,552
At 30 September 2023 24,662 27,648 11,306 63,616
4 Debtors 2024 2023
£ £
Other debtors 31,081 35,784
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,059 9,793
Trade creditors 340,014 116,991
Taxation and social security costs 127,833 120,277
Other creditors 43,498 56,893
521,404 303,954
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,020 19,301
Other creditors 5,936 5,835
14,956 25,136
The loan is secured as part of the Bounce Back Loan Guarantee Scheme.
7 Capital Redemption Reserve 2024 2023
£ £
At 1 October 2023 (9,980) (9,980)
At 30 September 2024 (9,980) (9,980)
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 88,910 135,298
9 Other information
Angling Active Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Stirling Agricultural Centre
Stirling
FK9 4RN
Angling Active Limited SC194095 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts July 2024 Mr Christopher Grantham No description of principal activity SC194095 2022-10-01 2023-09-30 SC194095 core:WithinOneYear 2023-09-30 SC194095 core:AfterOneYear 2023-09-30 SC194095 core:ShareCapital 2023-09-30 SC194095 core:OtherReservesSubtotal 2023-09-30 SC194095 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC194095 core:AllPeriods 2023-09-30 SC194095 core:RevaluationReserve 2022-09-30 SC194095 2023-10-01 2024-09-30 SC194095 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC194095 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC194095 bus:Director40 2023-10-01 2024-09-30 SC194095 1 2023-10-01 2024-09-30 SC194095 2 2023-10-01 2024-09-30 SC194095 core:LandBuildings 2023-10-01 2024-09-30 SC194095 core:PlantMachinery 2023-10-01 2024-09-30 SC194095 core:Vehicles 2023-10-01 2024-09-30 SC194095 countries:England 2023-10-01 2024-09-30 SC194095 bus:FRS102 2023-10-01 2024-09-30 SC194095 bus:FilletedAccounts 2023-10-01 2024-09-30 SC194095 2024-09-30 SC194095 core:WithinOneYear 2024-09-30 SC194095 core:AfterOneYear 2024-09-30 SC194095 core:ShareCapital 2024-09-30 SC194095 core:OtherReservesSubtotal 2024-09-30 SC194095 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC194095 core:LandBuildings 2024-09-30 SC194095 core:PlantMachinery 2024-09-30 SC194095 core:Vehicles 2024-09-30 SC194095 core:RevaluationReserve 2024-09-30 SC194095 core:AllPeriods 2024-09-30 SC194095 2023-09-30 SC194095 core:LandBuildings 2023-09-30 SC194095 core:PlantMachinery 2023-09-30 SC194095 core:Vehicles 2023-09-30 SC194095 core:RevaluationReserve 2023-09-30 iso4217:GBP xbrli:pure