FUTURE BAITS LIMITED


Director	WATTS, Marcus Kenrick


Registered Address	79 Higher Bore Street
	Bodmin
	PL31 1JT


Registered Number	06714432 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		8,742		11,657
			8,742		11,657
Current assets
Stocks		24,392		23,746
Debtors	4	8,403		5,830
		32,795		29,576
Creditors amounts falling due within one year	5	(92,144)		(67,532)
Net current assets (liabilities)			(59,349)		(37,956)
Total assets less current liabilities			(50,607)		(26,299)
Creditors amounts falling due after one year			(14,171)		(19,116)
Net assets			(64,778)		(45,415)
Capital and reserves
Called up share capital			4		4
Profit and loss account			(64,782)		(45,419)
Shareholders' funds			(64,778)		(45,415)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 15 July 2025, and are signed on its behalf by:

WATTS, Marcus Kenrick
Director
Registered Company No. 06714432

FUTURE BAITS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	15	-
Vehicles	25	-
Office Equipment	-	3

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	76,136
	At 31 March 25	76,136
	Depreciation and impairment
	At 01 April 24	64,479
	Charge for year	2,915
	At 31 March 25	67,393
	Net book value
	At 31 March 25	8,742
	At 31 March 24	11,657

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	8,118	5,491
Other debtors	245	299
Prepayments and accrued income	40	40
Total	8,403	5,830

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	12,608	12,693
Bank borrowings and overdrafts	36,305	32,851
Taxation and social security	4,886	3,217
Other creditors	34,085	15,476
Accrued liabilities and deferred income	4,260	3,295
Total	92,144	67,532


	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.