FWG Aquatics Limited 05470910 false 2023-09-27 2024-09-26 2024-09-26 The principal activity of the company is retail sale of aquatic fish. Digita Accounts Production Advanced 6.30.9574.0 true 05470910 2023-09-27 2024-09-26 05470910 2024-09-26 05470910 bus:OrdinaryShareClass1 2024-09-26 05470910 core:CurrentFinancialInstruments 2024-09-26 05470910 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-26 05470910 core:Non-currentFinancialInstruments 2024-09-26 05470910 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-26 05470910 core:Goodwill 2024-09-26 05470910 core:FurnitureFittingsToolsEquipment 2024-09-26 05470910 core:LandBuildings 2024-09-26 05470910 core:MotorVehicles 2024-09-26 05470910 bus:SmallEntities 2023-09-27 2024-09-26 05470910 bus:AuditExemptWithAccountantsReport 2023-09-27 2024-09-26 05470910 bus:FilletedAccounts 2023-09-27 2024-09-26 05470910 bus:SmallCompaniesRegimeForAccounts 2023-09-27 2024-09-26 05470910 bus:RegisteredOffice 2023-09-27 2024-09-26 05470910 bus:Director1 2023-09-27 2024-09-26 05470910 bus:OrdinaryShareClass1 2023-09-27 2024-09-26 05470910 bus:PrivateLimitedCompanyLtd 2023-09-27 2024-09-26 05470910 core:Goodwill 2023-09-27 2024-09-26 05470910 core:FurnitureFittings 2023-09-27 2024-09-26 05470910 core:LandBuildings 2023-09-27 2024-09-26 05470910 core:MotorVehicles 2023-09-27 2024-09-26 05470910 countries:EnglandWales 2023-09-27 2024-09-26 05470910 2023-09-26 05470910 core:Goodwill 2023-09-26 05470910 core:FurnitureFittingsToolsEquipment 2023-09-26 05470910 core:LandBuildings 2023-09-26 05470910 core:MotorVehicles 2023-09-26 05470910 2022-09-29 2023-09-26 05470910 2023-09-26 05470910 bus:OrdinaryShareClass1 2023-09-26 05470910 core:CurrentFinancialInstruments 2023-09-26 05470910 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-26 05470910 core:Non-currentFinancialInstruments 2023-09-26 05470910 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-26 05470910 core:Goodwill 2023-09-26 05470910 core:FurnitureFittingsToolsEquipment 2023-09-26 05470910 core:LandBuildings 2023-09-26 05470910 core:MotorVehicles 2023-09-26 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05470910

FWG Aquatics Limited

Unaudited Filleted Financial Statements

for the Year Ended 26 September 2024

 

FWG Aquatics Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

FWG Aquatics Limited

(Registration number: 05470910)
Balance Sheet as at 26 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

111,147

111,147

Current assets

 

Stocks

-

10,000

Debtors

6

-

2,688

 

-

12,688

Creditors: Amounts falling due within one year

7

(79,076)

(79,076)

Net current liabilities

 

(79,076)

(66,388)

Total assets less current liabilities

 

32,071

44,759

Creditors: Amounts falling due after more than one year

7

(44,760)

(44,760)

Provisions for liabilities

(171)

(171)

Net liabilities

 

(12,860)

(172)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(12,960)

(272)

Shareholders' deficit

 

(12,860)

(172)

For the financial year ending 26 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 June 2025
 

.........................................
Mr M Duerden
Director

 

FWG Aquatics Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 September 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:
Beckondale
2 Division Lane
Blackpool
FY4 5EA

These financial statements were authorised for issue by the director on 18 June 2025.

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.

Tax

The current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Freehold land and buildings

Not depreciated on the basis that any depreciation would not be material

Fixtures and fittings

20% per annum reducing balance basis

Motor vehicles

25% per annum reducing balance basis

 

FWG Aquatics Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 September 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

Over 15 years straight line basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

FWG Aquatics Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 27 September 2023

95,000

95,000

At 26 September 2024

95,000

95,000

Amortisation

At 27 September 2023

95,000

95,000

At 26 September 2024

95,000

95,000

Carrying amount

At 26 September 2024

-

-

At 26 September 2023

-

-

 

FWG Aquatics Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 September 2024

5

Tangible assets

Freehold land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost

At 27 September 2023

110,438

10,427

5,829

126,694

At 26 September 2024

110,438

10,427

5,829

126,694

Depreciation

At 27 September 2023

-

9,882

5,665

15,547

At 26 September 2024

-

9,882

5,665

15,547

Net book value

At 26 September 2024

110,438

545

164

111,147

At 26 September 2023

110,438

545

164

111,147

6

Debtors

2024
£

2023
£

Prepayments

-

2,688

-

2,688

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

57,982

57,982

Trade creditors

 

1,313

1,313

Taxation and social security

 

15,516

15,516

Accruals and deferred income

 

4,100

4,100

Other creditors

 

165

165

 

79,076

79,076

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

44,760

44,760

 

FWG Aquatics Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 September 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

44,760

44,760

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,615

17,615

Bank overdrafts

7,826

7,826

Other borrowings

32,541

32,541

57,982

57,982