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 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		10,742		8,742
			10,742		8,742
Current assets
Stocks	4	25,087		24,392
Debtors	5	28,309		8,403
		53,396		32,795
Creditors amounts falling due within one year	6	(71,159)		(92,144)
Net current assets (liabilities)			(17,763)		(59,349)
Total assets less current liabilities			(7,021)		(50,607)
Creditors amounts falling due after one year	7		(10,467)		(14,171)
Net assets			(17,488)		(64,778)
Capital and reserves
Called up share capital			4		4
Profit and loss account			(17,492)		(64,782)
Shareholders' funds			(17,488)		(64,778)

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 financial statements were approved and authorised for issue by the Director on 30 July 2026, 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 2026

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. The Company is reliant on the continued support of the director.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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 (%)
	Plant and machinery	15
	Vehicles	25
	Office Equipment	25

	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


		2026		2025
	Average number of employees during the year	4		3

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 25	66,297	9,504	335	76,136
Additions	3,489	-	-	3,489
At 31 March 26	69,786	9,504	335	79,625
Depreciation and impairment
At 01 April 25	58,090	8,970	334	67,394
Charge for year	1,355	134	-	1,489
At 31 March 26	59,445	9,104	334	68,883
Net book value
At 31 March 26	10,341	400	1	10,742
At 31 March 25	8,207	534	1	8,742

4.	Stocks

	2026	2025
	£	£
Other stocks	25,087	24,392
Total	25,087	24,392

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	28,065	8,118
Other debtors	244	245
Prepayments and accrued income	-	40
Total	28,309	8,403

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	4,767	12,608
Bank borrowings and overdrafts	12,215	36,305
Taxation and social security	10,389	4,886
Other creditors	39,963	34,085
Accrued liabilities and deferred income	3,825	4,260
Total	71,159	92,144


	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.

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	10,467	14,171
Total	10,467	14,171