REGISTERED NUMBER: 00806327 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Gorleston Tackle Centre Limited

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

421,105

424,612

CURRENT ASSETS

Stocks

70,725

90,434

Debtors

4,110

-

Cash at bank and in hand

12,387

9,781

87,222

100,215

CREDITORS

Amounts falling due within one year

47,210

99,563

NET CURRENT ASSETS

40,012

652

TOTAL ASSETS LESS CURRENT LIABILITIES

461,117

425,264

CREDITORS

Amounts falling due after more than one year

5

(165,497

)

(84,418

)

PROVISIONS FOR LIABILITIES

(74,818

)

(75,695

)

NET ASSETS

220,802

265,151

CAPITAL AND RESERVES

Called up share capital

300

300

Fair value reserve

247,222

247,222

Retained earnings

(26,720

)

17,629

SHAREHOLDERS' FUNDS

220,802

265,151

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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 12 December 2025 and were signed by:

Mr J N Amies - Director

1.	STATUTORY INFORMATION

Gorleston Tackle Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00806327

Registered office:

7/8 Pier Walk

Gorleston On Sea

Gt Yarmouth

Norfolk

NR31 6DA

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 as modified by the revaluation of certain assets.

The financial statements are prepared in Sterling, which is the functional currency of the entity, and rounded to the nearest pound.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services as they are supplied during the year, exclusive of value added tax.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% 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 3 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

470,399

Additions

1,994

Disposals

(1,988

)

At 31 March 2025

470,405

DEPRECIATION

At 1 April 2024

45,787

Charge for year

4,922

Eliminated on disposal

(1,409

)

At 31 March 2025

49,300

NET BOOK VALUE

At 31 March 2025

421,105

At 31 March 2024

424,612

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 1990

110,122

Valuation in 1995

12,000

Valuation in 2017

26,528

Valuation in 2018

24,828

Valuation in 2019

115,333

Valuation in 2023

91,311

Cost

19,878

400,000

If freehold property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

19,878

19,878

Freehold property was valued on an open market basis on 31 March 2025 by the director .

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.25

31.3.24

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

10,000

-

Repayable by instalments

Bank loan over 5 years

114,938

15,833

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

6,109

-

Between one and five years

7,127

-

13,236

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdraft

-

17,095

Bank loans

164,957

101,564

164,957

118,659

The bank overdraft and loan are secured by a legal charge over the freehold property and directors personal guarantee of up to £80,000.

The hire purchase liabilities are secured against the underlying assets.