Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsepublic house1918falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07511253 2023-04-01 2024-03-31 07511253 2022-04-01 2023-03-31 07511253 2024-03-31 07511253 2023-03-31 07511253 c:Director1 2023-04-01 2024-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2024-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2023-03-31 07511253 d:PlantMachinery 2023-04-01 2024-03-31 07511253 d:PlantMachinery 2024-03-31 07511253 d:PlantMachinery 2023-03-31 07511253 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07511253 d:MotorVehicles 2023-04-01 2024-03-31 07511253 d:MotorVehicles 2024-03-31 07511253 d:MotorVehicles 2023-03-31 07511253 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07511253 d:FurnitureFittings 2023-04-01 2024-03-31 07511253 d:FurnitureFittings 2024-03-31 07511253 d:FurnitureFittings 2023-03-31 07511253 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07511253 d:OfficeEquipment 2023-04-01 2024-03-31 07511253 d:OfficeEquipment 2024-03-31 07511253 d:OfficeEquipment 2023-03-31 07511253 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07511253 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07511253 d:CurrentFinancialInstruments 2024-03-31 07511253 d:CurrentFinancialInstruments 2023-03-31 07511253 d:Non-currentFinancialInstruments 2024-03-31 07511253 d:Non-currentFinancialInstruments 2023-03-31 07511253 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07511253 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07511253 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07511253 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07511253 d:ShareCapital 2024-03-31 07511253 d:ShareCapital 2023-03-31 07511253 d:RetainedEarningsAccumulatedLosses 2024-03-31 07511253 d:RetainedEarningsAccumulatedLosses 2023-03-31 07511253 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07511253 c:OrdinaryShareClass1 2024-03-31 07511253 c:OrdinaryShareClass1 2023-03-31 07511253 c:FRS102 2023-04-01 2024-03-31 07511253 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07511253 c:FullAccounts 2023-04-01 2024-03-31 07511253 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 07511253 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07511253










FISHERMANS RETURN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FISHERMANS RETURN LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
FISHERMANS RETURN LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FISHERMANS RETURN LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fishermans Return Ltd for the year ended 31 March 2024 which comprise  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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Fishermans Return Ltd in accordance with the terms of our engagement letter dated 14 June 2021Our work has been undertaken solely to prepare for your approval the financial statements of Fishermans Return Ltd and state those matters that we have agreed to state to the director of Fishermans Return Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fishermans Return Ltd and its director for our work or for this report. 

It is your duty to ensure that Fishermans Return Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fishermans Return Ltd. You consider that Fishermans Return Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Fishermans Return Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
NR1 4DJ
22 November 2024
Page 1

 
FISHERMANS RETURN LTD
REGISTERED NUMBER: 07511253

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
1,032,964
1,022,921

  
1,032,964
1,022,921

Current assets
  

Stocks
  
26,563
14,634

Debtors: amounts falling due within one year
 5 
217,584
347,068

Cash at bank and in hand
  
235,092
231,288

  
479,239
592,990

Creditors: amounts falling due within one year
 6 
(275,649)
(261,061)

Net current assets
  
 
 
203,590
 
 
331,929

Total assets less current liabilities
  
1,236,554
1,354,850

Creditors: amounts falling due after more than one year
 7 
(19,058)
(28,844)

Provisions for liabilities
  

Deferred tax
  
(26,663)
(26,836)

  
 
 
(26,663)
 
 
(26,836)

Net assets
  
1,190,833
1,299,170


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
1,190,832
1,299,169

  
1,190,833
1,299,170


Page 2

 
FISHERMANS RETURN LTD
REGISTERED NUMBER: 07511253
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 22 November 2024.




Mr D Winter
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The trading location is in Winterton, Norfolk.
The company's principal activity is that of a public house. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of that of a public house. Turnover over is measured as the fair value of the consideration received, exclusive of value added tax and recognised on an accruals basis. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. 

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

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, on the following basis.

Asset class and method:

Leasehold property improvements
-
are not depreciated
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase, and other costs incurred in bringing stock to its present location and condition.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 18).

Page 5

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Leasehold property improve -ments
Equipment
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
955,746
77,828
20,495
169,246
9,375
1,232,690


Additions
8,935
11,606
-
9,685
529
30,755


Disposals
-
(1,205)
-
(3,565)
(3,885)
(8,655)



At 31 March 2024

964,681
88,229
20,495
175,366
6,019
1,254,790



Depreciation


At 1 April 2023
-
55,478
15,869
132,806
5,616
209,769


Charge for the year on owned assets
-
6,783
1,156
8,905
573
17,417


Disposals
-
(938)
-
(1,962)
(2,460)
(5,360)



At 31 March 2024

-
61,323
17,025
139,749
3,729
221,826



Net book value



At 31 March 2024
964,681
26,906
3,470
35,617
2,290
1,032,964



At 31 March 2023
955,746
22,350
4,626
36,440
3,759
1,022,921


5.


Debtors

2024
2023
£
£


Other debtors
213,632
344,737

Prepayments and accrued income
3,952
2,331

217,584
347,068


Page 6

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
26,189
6,102

Other taxation and social security
115,152
87,107

Other creditors
2,297
4,180

Accruals and deferred income
122,011
153,672

275,649
261,061



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,058
28,844

19,058
28,844



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Pension commitments

Contributions totalling £117 (2023: £5) were payable to the fund at the balance sheet date and are included in creditors.


10.Financial commitments

The company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £828 (2023: £3,747).

Page 7

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Transactions with directors

The company has provided a guarantee to The Royal Bank of Scotland Plc in regards to the loan taken out by the director for the leasehold improvements shown as assets within the company. The Royal Bank of Scotland Plc has a fixed charge, in the form of a debenture, over the leasehold improvements, plant and machinery and goodwill and a floating charge over all other assets, property and rights.


12.


Related party transactions

The balance on the director's loan account at 1 April 2023 was £342,442 owing to the company from the director. During the year, the company advanced £293,757 to the director and the director introduced funds into the company of £423,000. The balance on the director's loan account as at 31 March 2024 was £213,199 owing to the company from the director as included in other debtors note 5 above. The loan is repayable on demand and interest of £7,024 was charged at a rate of 2% from the 1st April 2023 and 2.25% from the 6th April 2023 on the overdrawn balances. 

 
Page 8