Silverfin false 30/09/2021 30/09/2021 01/10/2020 Caroline Cardno 29/08/2003 William Cardno 29/08/2003 29 July 2022 The principal activity of the Company during the financial year was the supply of labour to vessels in the fishing industry. SC255042 2021-09-30 SC255042 bus:Director1 2021-09-30 SC255042 bus:Director2 2021-09-30 SC255042 2020-09-30 SC255042 core:CurrentFinancialInstruments 2021-09-30 SC255042 core:CurrentFinancialInstruments 2020-09-30 SC255042 core:ShareCapital 2021-09-30 SC255042 core:ShareCapital 2020-09-30 SC255042 core:RetainedEarningsAccumulatedLosses 2021-09-30 SC255042 core:RetainedEarningsAccumulatedLosses 2020-09-30 SC255042 core:ComputerEquipment 2020-09-30 SC255042 core:ComputerEquipment 2021-09-30 SC255042 core:CostValuation 2020-09-30 SC255042 core:CostValuation 2021-09-30 SC255042 core:ProvisionsForImpairmentInvestments 2020-09-30 SC255042 core:ProvisionsForImpairmentInvestments 2021-09-30 SC255042 core:CurrentFinancialInstruments 2 2021-09-30 SC255042 core:CurrentFinancialInstruments 2 2020-09-30 SC255042 bus:OrdinaryShareClass1 2021-09-30 SC255042 2020-10-01 2021-09-30 SC255042 bus:FullAccounts 2020-10-01 2021-09-30 SC255042 bus:SmallEntities 2020-10-01 2021-09-30 SC255042 bus:AuditExemptWithAccountantsReport 2020-10-01 2021-09-30 SC255042 bus:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 SC255042 bus:Director1 2020-10-01 2021-09-30 SC255042 bus:Director2 2020-10-01 2021-09-30 SC255042 core:ComputerEquipment 2020-10-01 2021-09-30 SC255042 2019-10-01 2020-09-30 SC255042 bus:OrdinaryShareClass1 2020-10-01 2021-09-30 SC255042 bus:OrdinaryShareClass1 2019-10-01 2020-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC255042 (Scotland)

HEADSHOT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

HEADSHOT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021

Contents

HEADSHOT LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2021
HEADSHOT LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 0 1,416
Investments 4 40 40
40 1,456
Current assets
Debtors 5 331,178 344,401
Cash at bank and in hand 22,859 21,725
354,037 366,126
Creditors
Amounts falling due within one year 6 ( 20,333) ( 24,641)
Net current assets 333,704 341,485
Total assets less current liabilities 333,744 342,941
Provisions for liabilities 7 0 ( 269)
Net assets 333,744 342,672
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 333,644 342,572
Total shareholders' funds 333,744 342,672

For the financial year ending 30 September 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Headshot Limited (registered number: SC255042) were approved and authorised for issue by the Director on 29 July 2022. They were signed on its behalf by:

Caroline Cardno
Director
HEADSHOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
HEADSHOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Headshot Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 30 Shore Street, Inverallochy, Fraserburgh, AB43 8WA, United Kingdom.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

On the 31st of March 2021, the directors made the decision that the Company would cease trading . As a result, the assets within the company have been written down to their recoverable values where applicable. Going forward the company is to remain non-trading and it is anticipated it will collect the sums owed to it over the future periods. Given that trading activity has ceased, it is anticipated there should be minimal external creditors to the company going forward and the directors have agreed they will continue to support the company as necessary.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 October 2020 2,706 2,706
Disposals ( 2,706) ( 2,706)
At 30 September 2021 0 0
Accumulated depreciation
At 01 October 2020 1,290 1,290
Charge for the financial year 354 354
Disposals ( 1,644) ( 1,644)
At 30 September 2021 0 0
Net book value
At 30 September 2021 0 0
At 30 September 2020 1,416 1,416

4. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 October 2020 40 40
At 30 September 2021 40 40
Provisions for impairment
At 01 October 2020 0 0
At 30 September 2021 0 0
Carrying value at 30 September 2021 40 40
Carrying value at 30 September 2020 40 40

5. Debtors

2021 2020
£ £
Trade debtors 0 14,494
Short term loans to joint ventures 328,855 328,855
Other debtors 2,323 1,052
331,178 344,401

6. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 0 19
Other creditors 4,800 1,801
Corporation tax 15,533 22,359
Other taxation and social security 0 462
20,333 24,641

7. Provision for liabilities

2021 2020
£ £
Deferred tax 0 269

8. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2021 2020
£ £
Amounts owed to company 1,942 284

The amounts shown above are interest free and there are no fixed terms of repayment.