Registered number
SC271039
Alba Game Fishing Limited
Filleted Accounts
31 July 2024
Alba Game Fishing Limited
Registered number: SC271039
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 24,401 26,457
Current assets
Debtors 4 24,230 8,160
Cash at bank and in hand 107,090 59,816
131,320 67,976
Creditors: amounts falling due within one year 5 (38,299) (17,543)
Net current assets 93,021 50,433
Total assets less current liabilities 117,422 76,890
Creditors: amounts falling due after more than one year 6 (11,947) (17,956)
Net assets 105,475 58,934
Capital and reserves
Called up share capital 1 1
Profit and loss account 105,474 58,933
Shareholder's funds 105,475 58,934
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Stewart Collingswood
Director
Approved by the board on 17 January 2025
Alba Game Fishing Limited
Notes to the Accounts
for the year ended 31 July 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 25% Reducing Balance Method
Computer Equipment 33% Straight Line Method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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.
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.
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 2 2
3 Tangible fixed assets
Computer Equipment Plant and machinery Total
£ £ £
Cost
At 1 August 2023 2,823 94,992 97,815
Additions 3,338 2,192 5,530
At 31 July 2024 6,161 97,184 103,345
Depreciation
At 1 August 2023 2,740 68,618 71,358
Charge for the year 764 6,822 7,586
At 31 July 2024 3,504 75,440 78,944
Net book value
At 31 July 2024 2,657 21,744 24,401
At 31 July 2023 83 26,374 26,457
4 Debtors 2024 2023
£ £
Trade debtors 21,795 5,278
Prepayment 1,157 2,546
VAT 1,278 336
24,230 8,160
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,134 6,961
Directors loan account 565 2,887
Corporation tax 24,670 5,836
Other taxes and social security costs 363 1,615
Credit card 5,137 160
Other creditors 1,430 84
38,299 17,543
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,947 17,956
7 Other information
Alba Game Fishing Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
18 Blackadder Crescent
North Berwick
East Lothian
Scotland
EH39 5FQ
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