REGISTERED NUMBER: 07678190 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

The Association of Inshore

Fisheries and Conservation

Authorities Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D T McCandless

W H Wright

G A Tomlinson

R W E G Gehrig Clark

S N Davis

J Gregory

T Hooper

L P Weller

Ms P Bateman

M Mander

R Pearson

M Taylor

M Southerton

Prof M V Williams

REGISTERED OFFICE:

Eldo House

Kempson Way

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

07678190 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

1,863

2,281

CURRENT ASSETS

Debtors

5

5,387

194,198

Cash at bank

523,072

163,897

528,459

358,095

CREDITORS

Amounts falling due within one year

6

53,645

140,736

NET CURRENT ASSETS

474,814

217,359

TOTAL ASSETS LESS CURRENT LIABILITIES

476,677

219,640

RESERVES

Fixed reserve

90,000

45,000

Income and expenditure account

386,677

174,640

476,677

219,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

R W E G Gehrig Clark - Director

G A Tomlinson - Director

1.	STATUTORY INFORMATION

The Association of Inshore Fisheries and Conservation Authorities Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 shown at fair value and represents membership fees collected from IFCAs, and grant income received from DEFRA.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Marine equipment

-

4 years straight line

Computer equipment

-

25% on reducing balance

Financial instruments

The company enters into only basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other related parties. Complex financial instruments are recognised at fair value in the accounts.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Deferred income

Deferred income has been recognised with regard to undistributed grants. The income is released to the profit and loss account when the grant held is distributed to the relevant bodies.

Where grant income is used to fund capital purchases, the grant income is deferred and is released to the profit and loss account in line with the depreciation policy of the assets purchased.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

252,679

Additions

330

Disposals

(249,638

)

At 31 March 2025

3,371

DEPRECIATION

At 1 April 2024

250,398

Charge for year

566

Eliminated on disposal

(249,456

)

At 31 March 2025

1,508

NET BOOK VALUE

At 31 March 2025

1,863

At 31 March 2024

2,281

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

190,978

Other debtors

5,387

3,220

5,387

194,198

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

35,246

20,472

Other creditors

18,399

120,264

53,645

140,736

7.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and does not have any share capital.