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Registration number: 00781819

Yorkshire Fly Fishers Club Limited(The)

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Yorkshire Fly Fishers Club Limited(The)

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Yorkshire Fly Fishers Club Limited(The)

(Registration number: 00781819)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

326,835

-

Tangible assets

5

57,248

380,831

 

384,083

380,831

Current assets

 

Debtors

6

33,501

65,656

Cash at bank and in hand

 

162,763

170,164

 

196,264

235,820

Creditors: Amounts falling due within one year

7

(45,620)

(7,111)

Net current assets

 

150,644

228,709

Net assets

 

534,727

609,540

Capital and reserves

 

Called up share capital

42,200

42,200

Share premium reserve

262,825

262,825

Retained earnings

229,702

304,515

Shareholders' funds

 

534,727

609,540

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................
Mr Robert Michael Milne
Director

   
     
 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
England

These financial statements were authorised for issue by the Board on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

The club receives subscriptions covering the year to 31 December. In accordance with accounting standards,
subscriptions due for the year to 31 December 2024 have been proportioned with four months relating to the current accounting reference date and eight months being carried forward to the next.

Government grants

Government grants have been credited to the profit and loss account on the accruals basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Land and buildings

2.5% straight line

Plant and machinery

various rates

Fishing waters and rights

Nil

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Fishing rights

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2023 - 13).

 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Fishing waters and rights
£

Total
£

Cost or valuation

Transfer from fixed assets

326,835

326,835

At 30 April 2024

326,835

326,835

Carrying amount

At 30 April 2024

326,835

326,835

Fishing waters and rights have been re-classified as intangible fixed assets. The directors consider the valuation at the accounting date to be similar to the carrying amount.

 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Plant, fittings and equipment
£

Motor vehicles
 £

Fishing waters and rights
 £

Total
£

Cost or valuation

At 1 May 2023

88,296

29,525

24,120

326,835

468,776

Transfer to intangible assets

-

-

-

(326,835)

(326,835)

Additions

-

8,900

-

-

8,900

Disposals

-

(7,804)

-

-

(7,804)

At 30 April 2024

88,296

30,621

24,120

-

143,037

Depreciation

At 1 May 2023

40,384

28,450

19,111

-

87,945

Charge for the year

2,207

(5,616)

1,253

-

(2,156)

At 30 April 2024

42,591

22,834

20,364

-

85,789

Carrying amount

At 30 April 2024

45,705

7,787

3,756

-

57,248

At 30 April 2023

47,912

1,075

5,009

326,835

380,831

Included within the net book value of land and buildings above is £45,705 (2023 - £47,912) in respect of freehold land and buildings.
 

 

Yorkshire Fly Fishers Club Limited(The)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

31,557

Amounts owed by related parties

5,600

4,800

Prepayments

 

27,901

29,299

   

33,501

65,656

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

996

3,314

Accruals and deferred income

44,479

3,660

Other creditors

145

137

45,620

7,111

8

Parent and ultimate parent undertaking

The Company's immediate parent is Yorkshire Fly Fishers (Holdings) Ltd, incorporated in England and Wales.