World Sport Fishing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04344576

World Sport Fishing Limited

Filleted Unaudited Financial Statements

31 December 2024

World Sport Fishing Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	17,188	13,081

Current assets

Stocks		38,000	36,600
Debtors	6	105,200	116,753
Cash at bank and in hand		84,687	20,743
		---------	---------
		227,887	174,096

Creditors: amounts falling due within one year	7	155,589	98,170
		---------	---------
Net current assets		72,298	75,926
		--------	--------
Total assets less current liabilities		89,486	89,007

Creditors: amounts falling due after more than one year	8	30,000	30,000
		--------	--------
Net assets		59,486	59,007
		--------	--------

Capital and reserves

Called up share capital	10	10
Profit and loss account	59,476	58,997
	--------	--------
Shareholders funds	59,486	59,007
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

World Sport Fishing Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

Mr R J Sheard
Director

Company registration number: 04344576

World Sport Fishing Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tythe Farm, Staploe Road, Wyboston, Bedford, Bedfordshire, MK44 3AT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Deferred taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	at varying rates on a straight line basis
Fixtures and fittings	-	30% straight line
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	87,620	6,749	11,000	105,369
Additions	–	–	8,700	8,700
	--------	-------	--------	---------
At 31 December 2024	87,620	6,749	19,700	114,069
	--------	-------	--------	---------
Depreciation
At 1 January 2024	85,632	6,564	92	92,288
Charge for the year	596	39	3,958	4,593
	--------	-------	--------	---------
At 31 December 2024	86,228	6,603	4,050	96,881
	--------	-------	--------	---------
Carrying amount
At 31 December 2024	1,392	146	15,650	17,188
	--------	-------	--------	---------
At 31 December 2023	1,988	185	10,908	13,081
	--------	-------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	41,524	52,841
Other debtors	63,676	63,912
	---------	---------
	105,200	116,753
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	4,261	3,786
Corporation tax	–	6,416
Social security and other taxes	95	–
Other creditors	4,558	–
Other creditors	146,675	87,968
	---------	--------
	155,589	98,170
	---------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	30,000	30,000
	--------	--------