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Company No: 12722939 (England and Wales)

MONK LAKES FISHERY LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

MONK LAKES FISHERY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

MONK LAKES FISHERY LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
MONK LAKES FISHERY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Emily Harrison
REGISTERED OFFICE Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
United Kingdom
COMPANY NUMBER 12722939 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
MONK LAKES FISHERY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
MONK LAKES FISHERY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 17,407 13,444
17,407 13,444
Current assets
Debtors 5 223,038 151,867
Cash at bank and in hand 5,977 54,299
229,015 206,166
Creditors: amounts falling due within one year 6 ( 265,984) ( 216,906)
Net current liabilities (36,969) (10,740)
Total assets less current liabilities (19,562) 2,704
Provision for liabilities ( 2,453) ( 2,554)
Net (liabilities)/assets ( 22,015) 150
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 22,016 ) 149
Total shareholder's (deficit)/funds ( 22,015) 150

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Monk Lakes Fishery Limited (registered number: 12722939) were approved and authorised for issue by the Director on 31 January 2025. They were signed on its behalf by:

Emily Harrison
Director
MONK LAKES FISHERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
MONK LAKES FISHERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Monk Lakes Fishery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Camburgh House, 27 New Dover Road, Canterbury, CT1 3DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

Impairment of assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Total
£ £ £
Cost
At 01 February 2023 0 18,159 18,159
Additions 7,595 0 7,595
At 31 January 2024 7,595 18,159 25,754
Accumulated depreciation
At 01 February 2023 0 4,715 4,715
Charge for the financial year 0 3,632 3,632
At 31 January 2024 0 8,347 8,347
Net book value
At 31 January 2024 7,595 9,812 17,407
At 31 January 2023 0 13,444 13,444

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 145,858 50,418
Corporation tax 69 0
Other debtors 77,111 101,449
223,038 151,867

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 8,658 8,528
Taxation and social security 2,340 5,203
Other creditors 254,986 203,175
265,984 216,906

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
At the year end the company was owed the following amount by the parent company: 145,858 50,417

8. Ultimate controlling party

The company's ultimate parent company is Merrymove Limited, a company incorporated in England and Wales. Merrymove Limited's registered address is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.