Celtic Fish and Game Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07614294 (England and Wales)

Celtic Fish and Game Limited

Unaudited Financial Statements

for the Year Ended 30th September 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G L G Bullus

Mrs S M Bullus

Mrs E K Platt

Mrs H C Bainger

Miss N J Bullus

REGISTERED OFFICE:

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

REGISTERED NUMBER:

07614294 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

422,371

442,422

422,371

442,422

CURRENT ASSETS

Stocks

221,000

225,000

Debtors

6

506,615

426,744

Cash at bank and in hand

1,220,739

1,010,306

1,948,354

1,662,050

CREDITORS

Amounts falling due within one year

7

(354,859

)

(427,994

)

NET CURRENT ASSETS

1,593,495

1,234,056

TOTAL ASSETS LESS CURRENT LIABILITIES

2,015,866

1,676,478

CREDITORS

Amounts falling due after more than one year

8

(41,377

)

(62,000

)

PROVISIONS FOR LIABILITIES

(49,970

)

(51,408

)

NET ASSETS

1,924,519

1,563,070

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,874,519

1,513,070

SHAREHOLDERS' FUNDS

1,924,519

1,563,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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 12th February 2024 and were signed on its behalf by:

Mrs S M Bullus - Director

1.	STATUTORY INFORMATION

Celtic Fish and Game 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 June 2011, was fully amortised during the year ended 30th September 2021.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

Straight line over 15 years

Plant and machinery

-

25% on cost

Fixtures, fittings and equipment

-

25% on cost

Motor vehicles

-

20% on cost

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.

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 27 (2022 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st October 2022

and 30th September 2023

850,000

AMORTISATION

At 1st October 2022

and 30th September 2023

850,000

NET BOOK VALUE

At 30th September 2023

-

At 30th September 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Leasehold

Plant and

and

Motor

improvements

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1st October 2022

666,672

484,121

90,353

379,248

1,620,394

Additions

10,126

26,016

5,359

73,530

115,031

Disposals

-

(450

)

-

(42,269

)

(42,719

)

At 30th September 2023

676,798

509,687

95,712

410,509

1,692,706

DEPRECIATION

At 1st October 2022

467,147

418,330

86,493

206,002

1,177,972

Charge for year

44,755

23,927

2,809

61,829

133,320

Eliminated on disposal

-

(450

)

-

(40,507

)

(40,957

)

At 30th September 2023

511,902

441,807

89,302

227,324

1,270,335

NET BOOK VALUE

At 30th September 2023

164,896

67,880

6,410

183,185

422,371

At 30th September 2022

199,525

65,791

3,860

173,246

442,422

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st October 2022

69,083

Transfer to ownership

(44,448

)

At 30th September 2023

24,635

DEPRECIATION

At 1st October 2022

30,963

Charge for year

4,927

Transfer to ownership

(24,389

)

At 30th September 2023

11,501

NET BOOK VALUE

At 30th September 2023

13,134

At 30th September 2022

38,120

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

428,062

395,111

Other debtors

78,553

31,633

506,615

426,744

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

3,788

4,752

Trade creditors

105,465

179,011

Taxation and social security

157,963

199,587

Other creditors

87,643

44,644

354,859

427,994

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

-

3,788

Other creditors

41,377

58,212

41,377

62,000

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2023

2022

£

£

Gross obligations repayable:

Within one year

3,894

5,192

Between one and five years

-

3,894

3,894

9,086

Finance charges repayable:

Within one year

106

440

Between one and five years

-

106

106

546

Net obligations repayable:

Within one year

3,788

4,752

Between one and five years

-

3,788

3,788

8,540

Non-cancellable

operating leases

2023

2022

£

£

Within one year

6,994

6,994

Between one and five years

10,150

17,194

17,144

24,188

10.	SECURED DEBTS

HSBC Bank PLC has a fixed and floating charge over the company's assets, property and undertakings for monies due or to become due in the future.