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REGISTERED NUMBER: 00630294 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MIDLAND FLYFISHERS LIMITED

MIDLAND FLYFISHERS LIMITED (REGISTERED NUMBER: 00630294)

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


MIDLAND FLYFISHERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: E D Brown
J S P Furniss
E J Dawes
R Norman
J B Campbell
R A Skan
M E Stirk
P T Stafford
D A Thompson
G J Southall
J D W Cox
P D Batty





SECRETARY: E J Dawes





REGISTERED OFFICE: Corner Oak
1 Homer Road
Solihull
West Midlands
B91 3QG





REGISTERED NUMBER: 00630294 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
161 Newhall Street
Birmingham
B3 1SW

MIDLAND FLYFISHERS LIMITED (REGISTERED NUMBER: 00630294)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 347,565 99,283
Investment property 5 380,727 -
728,292 99,283

CURRENT ASSETS
Debtors 6 8,893 6,388
Cash at bank 135,302 242,740
144,195 249,128
CREDITORS
Amounts falling due within one year 7 454,939 3,155
NET CURRENT (LIABILITIES)/ASSETS (310,744 ) 245,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

417,548

345,256

RESERVES
Retained earnings 417,548 345,256
MEMBERS' FUNDS 417,548 345,256

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 5 June 2025 and were signed on its behalf by:





J B Campbell - Director


MIDLAND FLYFISHERS LIMITED (REGISTERED NUMBER: 00630294)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Subscriptions and entrance fees
Subscriptions are credited to the income and expenditure account in the year in which they are due.

Entrance fees are accounted for on receipt.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold fishing rights - not provided

Freehold fishing rights and land are stated at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

MIDLAND FLYFISHERS LIMITED (REGISTERED NUMBER: 00630294)

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
fishing
rights
£   
COST
At 1 October 2023 99,283
Additions 250,908
Disposals (2,626 )
At 30 September 2024 347,565
NET BOOK VALUE
At 30 September 2024 347,565
At 30 September 2023 99,283

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 380,727
At 30 September 2024 380,727
NET BOOK VALUE
At 30 September 2024 380,727

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,893 6,388

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Member loans 450,000 -
Taxation and social security 1,558 124
Other creditors 3,381 3,031
454,939 3,155

8. SECURED DEBTS

A debenture charge over the assets of the company was created on 4 October 2024. The debenture is in favour of the members holding loan notes to a value of £300,000.

MIDLAND FLYFISHERS LIMITED (REGISTERED NUMBER: 00630294)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Kitson BA FCA (Senior Statutory Auditor)
for and on behalf of Prime

10. RELATED PARTY DISCLOSURES

The members of the committee enjoy the same benefits of membership and at the same cost as other members.

11. MEMBERS LIABILITIES

The company does not have a share capital but the liability of members is limited, in the event of the company being wound up, to an amount not exceeding £5 for each member.