Registered number
NI029194
The River Faughan Anglers Limited
Filleted Accounts
31 December 2024
The River Faughan Anglers Limited
Registered number: NI029194
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,857 9,812
Current assets
Stocks 3,650 4,550
Debtors 4 585 763
Investments held as current assets 5 59,254 53,412
Cash at bank and in hand 45,427 31,274
108,916 89,999
Creditors: amounts falling due within one year 6 (3,095) (3,005)
Net current assets 105,821 86,994
Net assets 110,678 96,806
Capital and reserves
Profit and loss account 110,678 96,806
Shareholders' funds 110,678 96,806
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Monk
Director
Approved by the board on 30 September 2025
The River Faughan Anglers Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Credit is only taken for subscriptions received in the year which were due for the angling season which falls within that year or a prior year. Subscriptions for life permit holders are treated as deferred revenue and amortised on a straight line basis over a ten year period by release to income and expenditure account.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 41,767
Additions -
At 31 December 2024 41,767
Depreciation
At 1 January 2024 31,955
Charge for the year 4,955
At 31 December 2024 36,910
Net book value
At 31 December 2024 4,857
At 31 December 2023 9,812
4 Debtors 2024 2023
£ £
Other debtors 585 763
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 59,254 53,412
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 5,842 3,412
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 145 105
Other creditors 2,950 2,900
3,095 3,005
7 Other information
The River Faughan Anglers Limited is a private company limited by guarantee without share capital and incorporated in Northern Ireland. Its registered office is:
20c Ballinska Road
Springtown Industrial Estate
Londonderry
BT48 0NA
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