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REGISTERED NUMBER: 07020930 (England and Wales)








Unaudited Financial Statements

for the Year Ended

30 September 2024

for

Angling Supplies Limited

Angling Supplies Limited (Registered number: 07020930)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Angling Supplies Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P Barnett
Mrs C Barnett





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 07020930 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Angling Supplies Limited (Registered number: 07020930)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 65,419 98,127
Tangible assets 5 4,013 8,775
69,432 106,902

CURRENT ASSETS
Stocks 17,000 17,000
Debtors 6 722 4,032
Cash at bank and in hand 29,968 66,250
47,690 87,282
CREDITORS
Amounts falling due within one year 7 42,489 75,227
NET CURRENT ASSETS 5,201 12,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,633

118,957

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,533 118,857
SHAREHOLDERS' FUNDS 74,633 118,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





P Barnett - Director


Angling Supplies Limited (Registered number: 07020930)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Angling Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Goodwill is being amortised from the date of transition to FRS102A over 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Angling Supplies Limited (Registered number: 07020930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 500,000
AMORTISATION
At 1 October 2023 401,873
Amortisation for year 32,708
At 30 September 2024 434,581
NET BOOK VALUE
At 30 September 2024 65,419
At 30 September 2023 98,127

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 20,580 4,495 7,682
Additions 429 - -
At 30 September 2024 21,009 4,495 7,682
DEPRECIATION
At 1 October 2023 13,788 2,697 7,682
Charge for year 4,202 899 -
At 30 September 2024 17,990 3,596 7,682
NET BOOK VALUE
At 30 September 2024 3,019 899 -
At 30 September 2023 6,792 1,798 -

Angling Supplies Limited (Registered number: 07020930)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 11,204 4,856 48,817
Additions - - 429
At 30 September 2024 11,204 4,856 49,246
DEPRECIATION
At 1 October 2023 11,204 4,671 40,042
Charge for year - 90 5,191
At 30 September 2024 11,204 4,761 45,233
NET BOOK VALUE
At 30 September 2024 - 95 4,013
At 30 September 2023 - 185 8,775

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 722 4,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,086 36,805
Taxation and social security 6,327 11,873
Other creditors 7,076 26,549
42,489 75,227

8. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the end of the year was £5,180 (2023: £5,180).

9. RELATED PARTY DISCLOSURES

The amount owed from the directors at the end of the year was £3,240 (2023: owed to £19,869).

10. ULTIMATE CONTROLLING PARTY

The company is under the control of P and C Barnett.