REGISTERED NUMBER: NI640751 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

FISHING TACKLE AND BAIT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTORS:

Mr David John Burleigh

Mrs Diane Julie Burleigh

REGISTERED OFFICE:

Unit 3 Old Scotch Stores

Sligo Road

Enniskillen

Co. Fermanagh

BT74 7JY

REGISTERED NUMBER:

NI640751 (Northern Ireland)

ACCOUNTANTS:

Patton Rainey Stenson Limited

Chartered Accountants

6 East Bridge Street

Enniskillen

Co. Fermanagh

BT74 7BT

BANKERS:

Bank of Ireland

27 Townhall Street

Enniskillen

Co. Fermanagh

BT74 7BD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,097

15,754

Investments

6

12,000

-

20,097

15,754

CURRENT ASSETS

Stocks

7

540,767

545,833

Cash at bank and in hand

45,209

20,937

585,976

566,770

CREDITORS

Amounts falling due within one year

8

364,278

340,844

NET CURRENT ASSETS

221,698

225,926

TOTAL ASSETS LESS CURRENT LIABILITIES

241,795

241,680

CREDITORS

Amounts falling due after more than one year

9

-

(26,017

)

PROVISIONS FOR LIABILITIES

12

(1,629

)

(3,346

)

NET ASSETS

240,166

212,317

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

240,066

212,217

SHAREHOLDERS' FUNDS

240,166

212,317

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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.

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 27 May 2026 and were signed on its behalf by:

Mr David John Burleigh - Director

1.	STATUTORY INFORMATION

Fishing Tackle and Bait Limited is a private company, limited by shares , registered in Northern Ireland. 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 2016, is being amortised evenly over its estimated useful life of five 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

All fixed assets are initially recorded at cost.

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its estimated useful life as follows:-

Short leasehold - 10% straight line

Plant and machinery - 15% reducing balance

Fixtures and fittings - 10% straight line

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.

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.

Grants received

Grants are credited to the profit and loss account when received in accordance with the performance method. They are funding for advertising and marketing.

Brexit

We recognise that the current trade negotiations between the UK and the EU with regard to establishing trading relations and applicable tariffs and levies is at a very early stage. The director has taken all reasonable steps to mitigate the impact of these potential levies and tariffs on the business.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

100,000

AMORTISATION

At 1 November 2024

and 31 October 2025

100,000

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 November 2024

and 31 October 2025

7,885

8,148

65,978

82,011

DEPRECIATION

At 1 November 2024

5,516

6,341

54,400

66,257

Charge for year

788

271

6,598

7,657

At 31 October 2025

6,304

6,612

60,998

73,914

NET BOOK VALUE

At 31 October 2025

1,581

1,536

4,980

8,097

At 31 October 2024

2,369

1,807

11,578

15,754

6.	FIXED ASSET INVESTMENTS

Loans to

group

undertakings

£

New in year

12,000

At 31 October 2025

12,000

7.

STOCKS

31.10.25

31.10.24

£

£

Stocks

540,767

545,833

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts (see note 10)

25,165

103,786

Trade creditors

213,776

156,807

Tax

17,897

9,087

Social security and other taxes

3,753

1,756

VAT

69,554

49,788

Other creditors

7,753

-

Directors' current accounts

16,504

10,970

Accruals and deferred income

9,876

8,650

364,278

340,844

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans (see note 10)

-

26,017

10.

LOANS

An analysis of the maturity of loans is given below:

31.10.25

31.10.24

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

39,148

Bank loans

25,165

64,638

25,165

103,786

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

26,017

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

£

Bank overdraft

-

39,148

Bank loans

25,165

90,655

25,165

129,803

The company has an overdraft facility in place which is secured by way of a personal guarantee.

12.	PROVISIONS FOR LIABILITIES

31.10.25

31.10.24

£

£

Deferred tax

1,629

3,346

Deferred

tax

£

Balance at 1 November 2024

3,346

Credit to Income Statement during year

(1,717

)

Balance at 31 October 2025

1,629

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2025 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Patton Rainey Stenson Limited

Chartered Accountants

6 East Bridge Street

Enniskillen

Co. Fermanagh

BT74 7BT

27 May 2026