2024-02-012025-01-312025-01-31false05650842CARTMEL VALLEY GAME SUPPLIES 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CARTMEL VALLEY GAME SUPPLIES LIMITED

Registered Number
05650842
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

CARTMEL VALLEY GAME SUPPLIES LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

STOTT, Jonathan Neil
STOTT, Susan

Company Secretary

STOTT, Susan

Registered Address

High Bank Side
Cartmel
Grange-Over-Sands
LA11 7NR

Registered Number

05650842 (England and Wales)
CARTMEL VALLEY GAME SUPPLIES LIMITED
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets33,4006,800
Tangible assets537,73830,817
Investments6415,008394,094
456,146431,711
Current assets
Stocks764,17668,311
Debtors8127,657169,839
Cash at bank and on hand223,741158,589
415,574396,739
Creditors amounts falling due within one year9(76,721)(61,918)
Net current assets (liabilities)338,853334,821
Total assets less current liabilities794,999766,532
Provisions for liabilities10(37,013)(31,784)
Net assets757,986734,748
Capital and reserves
Called up share capital100100
Other reserves186,504170,819
Profit and loss account571,382563,829
Shareholders' funds12757,986734,748
The financial statements were approved and authorised for issue by the Board of Directors on 4 April 2025, and are signed on its behalf by:
STOTT, Jonathan Neil
Director
Registered Company No. 05650842
CARTMEL VALLEY GAME SUPPLIES LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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 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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Investments
Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Trade and other 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.
Financial instruments
The company 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.
2.Average number of employees

20252024
Average number of employees during the year1110
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 February 2468,00068,000
At 31 January 2568,00068,000
Amortisation and impairment
At 01 February 2461,20061,200
Charge for year3,4003,400
At 31 January 2564,60064,600
Net book value
At 31 January 253,4003,400
At 31 January 246,8006,800
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 20 years and the asset will be amortised on a straight line basis over that period.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 February 24103,55074,64496,5087,344282,046
Additions-16,777--16,777
At 31 January 25103,55091,42196,5087,344298,823
Depreciation and impairment
At 01 February 24103,55060,83482,0764,769251,229
Charge for year-5,2173,6081,0319,856
At 31 January 25103,55066,05185,6845,800261,085
Net book value
At 31 January 25-25,37010,8241,54437,738
At 31 January 24-13,81014,4322,57530,817
Depreciation rates: Land and buildings - S/L over 10yrs Plant and machinery - 25% RB Motor vehicles - 25% RB Office equipment - 40% RB
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 February 24394,094394,094
Revaluations20,91420,914
At 31 January 25415,008415,008
Net book value
At 31 January 25415,008415,008
At 31 January 24394,094394,094

Notes

1Other investments other than loans
7.Stocks

2025

2024

££
Raw materials and consumables64,17668,311
Total64,17668,311
8.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables114,289127,461
Other debtors7,38136,994
Prepayments and accrued income5,9875,384
Total127,657169,839
9.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables27,61918,972
Taxation and social security35,51139,956
Other creditors10,360-
Accrued liabilities and deferred income3,2312,990
Total76,72161,918
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.
10.Provisions for liabilities
The provision for deferred tax is made up of £37,013 in respect of fair value on investments.

2025

2024

££
Net deferred tax liability (asset)37,01331,784
Total37,01331,784
11.Directors advances, credits and guarantees
During the period the directors had a loan account with the company. At 1 February 2024, the directors owed the company £29,541. During the year the company provided loan advances of £21,699 and the directors made repayments of £61,600. At 31 January 2025, the company owed the directors owed £10,360. No interest was charged on this loan.
12.Fair value reserve
Other reserves represents capital growth on the companies fixed asset investment.