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REGISTERED NUMBER: SC335301 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

CRYSTAL RIVER FISHING COMPANY
LIMITED

CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

CRYSTAL RIVER FISHING COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: David Cardno
Mark James Cardno





SECRETARY: Mrs Teresa James Cardno





REGISTERED OFFICE: c/o Caley Fisheries Ltd
1-3 Dalrymple Street
Fraserburgh
Aberdeenshire
AB43 9BH





REGISTERED NUMBER: SC335301 (Scotland)





ACCOUNTANTS: Goldwells Ltd
37 Broad Street
Peterhead
Aberdeenshire
AB42 1JB

CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)

BALANCE SHEET
31ST DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 865,754 889,055
Tangible assets 6 3,302,567 1,632,088
4,168,321 2,521,143

CURRENT ASSETS
Debtors 7 274,302 272,335
Cash at bank - 10,181
274,302 282,516
CREDITORS
Amounts falling due within one year 8 2,034,635 337,087
NET CURRENT LIABILITIES (1,760,333 ) (54,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,407,988

2,466,572

CAPITAL AND RESERVES
Called up share capital 640 640
Retained earnings 2,407,348 2,465,932
SHAREHOLDERS' FUNDS 2,407,988 2,466,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)

BALANCE SHEET - continued
31ST DECEMBER 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd June 2022 and were signed on its behalf by:





David Cardno - Director


CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021

1. STATUTORY INFORMATION

Crystal River Fishing Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency is sterling.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Fishing quota
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fishing quota - 2% on cost

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Gear - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer euipment - 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5. INTANGIBLE FIXED ASSETS
Fishing
quota
£   
COST
At 1st January 2021
and 31st December 2021 1,165,084
AMORTISATION
At 1st January 2021 276,029
Amortisation for year 23,301
At 31st December 2021 299,330
NET BOOK VALUE
At 31st December 2021 865,754
At 31st December 2020 889,055

CRYSTAL RIVER FISHING COMPANY
LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021

6. TANGIBLE FIXED ASSETS
Vessel & Motor Computer
gear vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2021 1,654,026 39,993 5,368 1,699,387
Additions 1,825,211 - - 1,825,211
Disposals (134,500 ) - - (134,500 )
At 31st December 2021 3,344,737 39,993 5,368 3,390,098
DEPRECIATION
At 1st January 2021 25,388 36,989 4,922 67,299
Charge for year 19,370 751 111 20,232
At 31st December 2021 44,758 37,740 5,033 87,531
NET BOOK VALUE
At 31st December 2021 3,299,979 2,253 335 3,302,567
At 31st December 2020 1,628,638 3,004 446 1,632,088

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 186,906 201,957
Directors' current accounts 87,396 70,378
274,302 272,335

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 2,032,247 307,000
Corporation Tax - 27,974
Accrued expenses 2,388 2,113
2,034,635 337,087

The loan from the directors is interest free with no fixed terms of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CRYSTAL RIVER FISHING COMPANY
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crystal River Fishing Company Limited for the year ended 31st December 2021 which comprise the Statement of Income and Retained Earnings, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Crystal River Fishing Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crystal River Fishing Company Limited and state those matters that we have agreed to state to the Board of Directors of Crystal River Fishing Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Crystal River Fishing Company 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 Crystal River Fishing Company Limited. You consider that Crystal River Fishing Company 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 Crystal River Fishing Company 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.






Goldwells Ltd
37 Broad Street
Peterhead
Aberdeenshire
AB42 1JB


2nd June 2022