false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-08-01
Sage Accounts Production Advanced 2017 Update 4 - FRS
9,242
5,580
14,822
7,597
1,806
9,403
5,419
1,645
xbrli:pure
xbrli:shares
iso4217:GBP
7326021
2016-08-01
2017-07-31
7326021
2017-07-31
7326021
2016-07-31
7326021
2016-07-31
7326021
bus:RegisteredOffice
2016-08-01
2017-07-31
7326021
bus:OrdinaryShareClass1
2016-08-01
2017-07-31
7326021
bus:LeadAgentIfApplicable
2016-08-01
2017-07-31
7326021
bus:Director1
2016-08-01
2017-07-31
7326021
bus:CompanySecretary1
2016-08-01
2017-07-31
7326021
core:PlantMachinery
2016-07-31
7326021
core:PlantMachinery
2017-07-31
7326021
core:PlantMachinery
2016-08-01
2017-07-31
7326021
core:WithinOneYear
2017-07-31
7326021
core:WithinOneYear
2016-07-31
7326021
core:ShareCapital
2017-07-31
7326021
core:ShareCapital
2016-07-31
7326021
core:RetainedEarningsAccumulatedLosses
2017-07-31
7326021
core:RetainedEarningsAccumulatedLosses
2016-07-31
7326021
core:PlantMachinery
2016-07-31
7326021
bus:FRS102
2016-08-01
2017-07-31
7326021
bus:AuditExemptWithAccountantsReport
2016-08-01
2017-07-31
7326021
bus:FullAccounts
2016-08-01
2017-07-31
7326021
bus:SmallCompaniesRegimeForAccounts
2016-08-01
2017-07-31
7326021
bus:PrivateLimitedCompanyLtd
2016-08-01
2017-07-31
7326021
bus:OrdinaryShareClass1
2017-07-31
7326021
bus:OrdinaryShareClass1
2016-07-31
COMPANY REGISTRATION NUMBER:
7326021
Filleted Unaudited Financial Statements
|
|
Year ended 31 July 2017
Officers and professional advisers
|
1
|
|
|
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
4 to 7
|
|
|
Officers and Professional Advisers
|
|
Company secretary
|
Mr G Phillips
|
|
|
Registered office
|
49 Woodbine Way
|
|
Milford Haven
|
|
Pembrokeshire
|
|
SA73 3HG
|
|
|
Accountants
|
Evens & Co Ltd
|
|
Chartered Accountants
|
|
Hamilton House
|
|
Hamilton Terrace
|
|
Milford Haven
|
|
Pembrokeshire
|
|
SA73 3JP
|
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Bass Fishing Limited
|
|
Year ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bass Fishing Limited for the year ended 31 July 2017, which comprise the statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Bass Fishing Limited in accordance with the terms of our engagement letter dated 24 April 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Bass Fishing Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bass Fishing Limited and its director for our work or for this report.
It is your duty to ensure that Bass Fishing Limited 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 loss of Bass Fishing Limited. You consider that Bass Fishing Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Bass Fishing Limited. 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.
Evens & Co Ltd
Chartered Accountants
Hamilton House
Hamilton Terrace
Milford Haven
Pembrokeshire
SA73 3JP
17 April 2018
Statement of Financial Position
|
|
31 July 2017
Fixed assets
Tangible assets
|
4
|
5,419
|
1,645
|
|
|
|
|
Current assets
Debtors
|
5
|
1,114
|
263
|
Cash at bank and in hand
|
441
|
133
|
|
-------
|
----
|
|
1,555
|
396
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
(
34,229)
|
(
23,172)
|
|
--------
|
--------
|
Net current liabilities
|
(
32,674)
|
(
22,776)
|
|
--------
|
--------
|
Total assets less current liabilities
|
(
27,255)
|
(
21,131)
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
100
|
100
|
Profit and loss account
|
(
27,355)
|
(
21,231)
|
|
--------
|
--------
|
Shareholders deficit
|
(
27,255)
|
(
21,131)
|
|
--------
|
--------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
17 April 2018
, and are signed on behalf of the board by:
Company registration number:
7326021
Notes to the Financial Statements
|
|
Year ended 31 July 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 Woodbine Way, Milford Haven, Pembrokeshire, SA73 3HG.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The company meets its day to day working capital requirements through the director's loan account. The director intends to meet this obligation for the foreseeable future and on this basis he considers it appropriate to prepare the accounts on a going concern basis.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & Machinery
|
-
|
25% on a reducing balance basis
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
Plant & Machinery
|
Total
|
|
£
|
£
|
Cost
|
|
|
At 1 August 2016
|
9,242
|
9,242
|
Additions
|
5,580
|
5,580
|
|
--------
|
--------
|
At 31 July 2017
|
14,822
|
14,822
|
|
--------
|
--------
|
Depreciation
|
|
|
At 1 August 2016
|
7,597
|
7,597
|
Charge for the year
|
1,806
|
1,806
|
|
--------
|
--------
|
At 31 July 2017
|
9,403
|
9,403
|
|
--------
|
--------
|
Carrying amount
|
|
|
At 31 July 2017
|
5,419
|
5,419
|
|
--------
|
--------
|
At 31 July 2016
|
1,645
|
1,645
|
|
--------
|
--------
|
|
|
|
5.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
776
|
–
|
Other debtors
|
338
|
263
|
|
-------
|
----
|
|
1,114
|
263
|
|
-------
|
----
|
|
|
|
Other debtors include an amount of £nil (2016 - £nil) falling due after more than one year.
6.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Trade creditors
|
244
|
164
|
Other creditors
|
33,985
|
23,008
|
|
--------
|
--------
|
|
34,229
|
23,172
|
|
--------
|
--------
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2017
|
2016
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
100
|
100
|
100
|
100
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
8.
Related party transactions
The company was under the control of
Mr G Phillips
, the managing director, throughout the current and previous year by virtue of his majority shareholding. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.
No transitional adjustments were required in equity or profit or loss for the year.