Celtic Fish and Game Limited - Accounts to registrar (filleted) - small 18.2
Celtic Fish and Game Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Celtic Fish and Game Limited |
| Unaudited Financial Statements |
| for the Year Ended 30th September 2020 |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Contents of the Financial Statements |
| for the Year Ended 30th September 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Celtic Fish and Game Limited |
| Company Information |
| for the Year Ended 30th September 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 48 Arwenack Street |
| Falmouth |
| Cornwall |
| TR11 3JH |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Statement of Financial Position |
| 30th September 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Statement of Financial Position - continued |
| 30th September 2020 |
| 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 |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Notes to the Financial Statements |
| for the Year Ended 30th September 2020 |
| 1. | STATUTORY INFORMATION |
| Celtic Fish and Game Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 June 2011, was previously being amortised evenly over twenty years. However, a review of its estimated useful life was carried out during the year ended 30 September 2014 and goodwill is now being amortised evenly over ten years. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Plant and machinery | - |
| Fixtures, fittings and equipment | - |
| Motor vehicles | - |
| Depreciation is pro-rated and applied from the month of acquisition. |
| Leasehold Improvements, was previously being depreciated evenly over ten years. However, a review of its estimated useful life has been carried out and the remaining balance as at 30 September 2013 is being depreciated evenly over the next fourteen years, giving the improvements an estimated economic life of 15 years. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st October 2019 |
| and 30th September 2020 |
| AMORTISATION |
| At 1st October 2019 |
| Amortisation for year |
| At 30th September 2020 |
| NET BOOK VALUE |
| At 30th September 2020 |
| At 30th September 2019 |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings |
| Leasehold | Plant and | and | Motor |
| improvements | machinery | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st October 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30th September 2020 |
| DEPRECIATION |
| At 1st October 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30th September 2020 |
| NET BOOK VALUE |
| At 30th September 2020 |
| At 30th September 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1st October 2019 |
| Additions |
| At 30th September 2020 |
| DEPRECIATION |
| At 1st October 2019 |
| Charge for year |
| At 30th September 2020 |
| NET BOOK VALUE |
| At 30th September 2020 |
| At 30th September 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included within Other Creditors is a loan from the director's of £272,842 (2019: £285,191). The loan will be repaid when cash flow allows. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 189,029 | 114,886 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Between one and five years |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Celtic Fish and Game Limited (Registered number: 07614294) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2020 |
| 9. | LEASING AGREEMENTS - continued |
| Non-cancellable | operating leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| All bank borrowings are secured by a debenture comprising fixed and floating charges over the assets of the Company. |
| The bank loans are also secured by mortgages over the directors' personal freehold property. |