Ashmead Fishery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07622534 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Ashmead Fishery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M V Walsingham

Mrs S A Walsingham

REGISTERED OFFICE:

107 North Street

Martock

Somerset

TA12 6EJ

REGISTERED NUMBER:

07622534 (England and Wales)

ACCOUNTANTS:

Read & Co.

107 North Street

Martock

Somerset

TA12 6EJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,692

7,031

7,692

7,031

CURRENT ASSETS

Stocks

730

720

Debtors

6

51,877

39,741

Cash in hand

200

200

52,807

40,661

CREDITORS

Amounts falling due within one year

7

52,282

45,500

NET CURRENT ASSETS/(LIABILITIES)

525

(4,839

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,217

2,192

PROVISIONS FOR LIABILITIES

8

529

198

NET ASSETS

7,688

1,994

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

7,488

1,794

SHAREHOLDERS' FUNDS

7,688

1,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 28 December 2020 and were signed on its behalf by:

Mr M V Walsingham - Director

1.	STATUTORY INFORMATION

Ashmead Fishery Limited is a private company, limited by shares , registered in England and Wales. 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 2012, 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

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

Plant and machinery etc

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

20,000

AMORTISATION

At 1 April 2019

and 31 March 2020

20,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

24,626

Additions

2,350

At 31 March 2020

26,976

DEPRECIATION

At 1 April 2019

17,595

Charge for year

1,689

At 31 March 2020

19,284

NET BOOK VALUE

At 31 March 2020

7,692

At 31 March 2019

7,031

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

51,877

39,741

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

6,446

1,457

Corporation tax

1,990

1,222

VAT

1,203

-

Accruals and deferred income

41,530

41,860

Accrued expenses

1,113

961

52,282

45,500

8.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

529

198

Deferred

tax

£

Balance at 1 April 2019

198

Charge to Income Statement during year

331

Balance at 31 March 2020

529

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

100

Ordinary

£1.00

200

200

10.

RESERVES

Retained

earnings

£

At 1 April 2019

1,794

Profit for the year

9,894

Dividends

(4,200

)

At 31 March 2020

7,488

11.	RELATED PARTY DISCLOSURES

The company is controlled jointly by the directors and shareholders and has no ultimate controlling party.