REGISTERED NUMBER: 04387557 (England and Wales)

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

ANGLING AMBITIONS LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

S J Hume

REGISTERED OFFICE:

19 North Street

Ashford

Kent

TN24 8LF

REGISTERED NUMBER:

04387557 (England and Wales)

ACCOUNTANTS:

Calcutt Matthews WBZ Ltd

19 North Street

Ashford

Kent

TN24 8LF

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIRECTOR

S J Hume held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S J Hume - Director

22 September 2025

TURNOVER

620,957

617,000

Cost of sales

416,758

409,123

GROSS PROFIT

204,199

207,877

Distribution costs

1,246

873

Administrative expenses

144,057

150,259

145,303

151,132

58,896

56,745

Other operating income

642

516

59,538

57,261

Interest receivable and similar income

1,128

702

PROFIT BEFORE TAXATION

4

60,666

57,963

Tax on profit

5

20,799

11,211

PROFIT FOR THE FINANCIAL YEAR

39,867

46,752

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

1,495

3,537

1,495

3,537

CURRENT ASSETS

Stocks

8

82,990

97,547

Cash at bank

80,748

94,189

163,738

191,736

CREDITORS

Amounts falling due within one year

9

26,612

22,519

NET CURRENT ASSETS

137,126

169,217

TOTAL ASSETS LESS CURRENT LIABILITIES

138,621

172,754

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

137,621

171,754

138,621

172,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 22 September 2025 and were signed by:

S J Hume - Director

1.	STATUTORY INFORMATION

Angling Ambitions 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 0, is being amortised evenly over its estimated useful life of nil 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.

Plant and machinery etc

-

25% on cost and 25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4.	PROFIT BEFORE TAXATION

The profit is stated after charging:

31.12.24

31.12.23

£

£

Depreciation - owned assets

2,497

2,608

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

20,799

11,211

Tax on profit

20,799

11,211

6.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

80,000

AMORTISATION

At 1 January 2024

and 31 December 2024

80,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

23,027

9,895

21,956

54,878

Additions

455

-

-

455

At 31 December 2024

23,482

9,895

21,956

55,333

DEPRECIATION

At 1 January 2024

23,027

9,895

18,419

51,341

Charge for year

152

-

2,345

2,497

At 31 December 2024

23,179

9,895

20,764

53,838

NET BOOK VALUE

At 31 December 2024

303

-

1,192

1,495

At 31 December 2023

-

-

3,537

3,537

8.

STOCKS

31.12.24

31.12.23

£

£

Stocks

82,990

97,547

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

(1,905

)

132

Tax

20,799

11,211

Net Pension

2,833

18

VAT

4,167

10,162

Directors' current accounts

718

996

26,612

22,519