REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
THE MENAI STRAIT FISHERY ORDER |
MANAGEMENT ASSOCIATION |
A COMPANY LIMITED BY GUARANTEE |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
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 |
Other creditors |
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. |
Chartered Certified Accountants |
2 Llys Onnen |
Ffordd Y Llyn |
Parc Menai |
Bangor |
Gwynedd |
LL57 4DF |