ACCOUNTS - Final Accounts


Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-311818true2022-04-01falsepublic housefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07511253 2022-04-01 2023-03-31 07511253 2021-04-01 2022-03-31 07511253 2023-03-31 07511253 2022-03-31 07511253 c:Director1 2022-04-01 2023-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2023-03-31 07511253 d:Buildings d:LongLeaseholdAssets 2022-03-31 07511253 d:PlantMachinery 2022-04-01 2023-03-31 07511253 d:PlantMachinery 2023-03-31 07511253 d:PlantMachinery 2022-03-31 07511253 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07511253 d:MotorVehicles 2022-04-01 2023-03-31 07511253 d:MotorVehicles 2023-03-31 07511253 d:MotorVehicles 2022-03-31 07511253 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07511253 d:FurnitureFittings 2022-04-01 2023-03-31 07511253 d:FurnitureFittings 2023-03-31 07511253 d:FurnitureFittings 2022-03-31 07511253 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07511253 d:OfficeEquipment 2022-04-01 2023-03-31 07511253 d:OfficeEquipment 2023-03-31 07511253 d:OfficeEquipment 2022-03-31 07511253 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07511253 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07511253 d:CurrentFinancialInstruments 2023-03-31 07511253 d:CurrentFinancialInstruments 2022-03-31 07511253 d:Non-currentFinancialInstruments 2023-03-31 07511253 d:Non-currentFinancialInstruments 2022-03-31 07511253 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07511253 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07511253 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07511253 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07511253 d:ShareCapital 2023-03-31 07511253 d:ShareCapital 2022-03-31 07511253 d:RetainedEarningsAccumulatedLosses 2023-03-31 07511253 d:RetainedEarningsAccumulatedLosses 2022-03-31 07511253 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07511253 c:OrdinaryShareClass1 2023-03-31 07511253 c:OrdinaryShareClass1 2022-03-31 07511253 c:FRS102 2022-04-01 2023-03-31 07511253 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07511253 c:FullAccounts 2022-04-01 2023-03-31 07511253 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 07511253 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07511253










FISHERMANS RETURN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
FISHERMANS RETURN LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
FISHERMANS RETURN LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FISHERMANS RETURN LTD
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fishermans Return Ltd for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Fishermans Return Ltd in accordance with the terms of our engagement letter dated 14 June 2021Our work has been undertaken solely to prepare for your approval the financial statements of Fishermans Return Ltd  and state those matters that we have agreed to state to the director of Fishermans Return Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fishermans Return Ltd and its director for our work or for this report. 

It is your duty to ensure that Fishermans Return Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fishermans Return Ltd. You consider that Fishermans Return Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Fishermans Return Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
NR1 4DJ
27 November 2023
Page 1

 
FISHERMANS RETURN LTD
REGISTERED NUMBER: 07511253

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,022,920
1,033,939

  
1,022,920
1,033,939

Current assets
  

Stocks
  
14,634
18,205

Debtors: amounts falling due within one year
 5 
347,068
93,718

Cash at bank and in hand
  
231,289
397,245

  
592,991
509,168

Creditors: amounts falling due within one year
 6 
(261,061)
(337,675)

Net current assets
  
 
 
331,930
 
 
171,493

Total assets less current liabilities
  
1,354,850
1,205,432

Creditors: amounts falling due after more than one year
 7 
(28,844)
(38,429)

Provisions for liabilities
  

Deferred tax
  
(26,836)
(28,068)

  
 
 
(26,836)
 
 
(28,068)

Net assets
  
1,299,170
1,138,935


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
1,299,169
1,138,934

  
1,299,170
1,138,935


Page 2

 
FISHERMANS RETURN LTD
REGISTERED NUMBER: 07511253
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




Mr D Winter
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The trading location is in Winterton, Norfolk.
The company's principal activity is that of a public house. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied: 

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of that of a public house. Turnover over is measured as the fair value of the consideration received, exclusive of value added tax and recognised on an accruals basis. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. 

Page 4

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Asset class and method:

Leasehold property improvements
-
are not depreciated
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase, and other costs incurred in bringing stock to its present location and condition.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 18).

Page 5

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Leasehold property improve -ments
Equipment
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
955,746
94,382
31,635
163,954
9,375
1,255,092


Additions
-
6,600
-
5,292
-
11,892


Disposals
-
(23,155)
(11,140)
-
-
(34,295)



At 31 March 2023

955,746
77,827
20,495
169,246
9,375
1,232,689



Depreciation


At 1 April 2022
-
68,583
24,198
123,696
4,676
221,153


Charge for the year on owned assets
-
5,644
1,542
9,110
940
17,236


Disposals
-
(18,749)
(9,871)
-
-
(28,620)



At 31 March 2023

-
55,478
15,869
132,806
5,616
209,769



Net book value



At 31 March 2023
955,746
22,349
4,626
36,440
3,759
1,022,920



At 31 March 2022
955,746
25,800
7,436
40,258
4,699
1,033,939


5.


Debtors

2023
2022
£
£


Other debtors
344,737
91,539

Prepayments and accrued income
2,331
2,179

347,068
93,718


Page 6

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
6,102
9,184

Other taxation and social security
87,107
126,897

Other creditors
4,180
5,870

Accruals and deferred income
153,672
185,724

261,061
337,675





7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,844
38,429

28,844
38,429





8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Pension commitments

Contributions totalling £5 (2022: £846) were payable to the fund at the balance sheet date and are included in creditors.


10.Financial commitments

The company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £3,747 (2022: £87,916).

Page 7

 
FISHERMANS RETURN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Transactions with directors

The company has provided a guarantee to The Royal Bank of Scotland Plc in regards to the loan taken out by the director for the leasehold improvements shown as assets within the company. The Royal Bank of Scotland Plc has a fixed charge, in the form of a debenture, over the leasehold improvements, plant and machinery and goodwill and a floating charge over all other assets, property and rights.


12.


Related party transactions

The balance on the director's loan account at 1 April 2022 was £69,086 owing to the company from the director. During the year, the company advanced £444,844 to the director and the director introduced funds into the company of £171,488. The balance on the director's loan account as at 31 March 2023 was £342,442 owing to the company from the director as included in other debtors note 5 above. The loan is repayable on demand and interest of £5,999 was charged at a rate of 2% on the overdrawn balances. 

 
Page 8