Silverfin false 31/03/2023 01/04/2022 31/03/2023 John Buchan 10/03/2003 Claire Miller 08/12/2014 12 October 2023 The principal activity of the company is the supply of labour to vessels in the fishing industry. SC245370 2023-03-31 SC245370 bus:Director1 2023-03-31 SC245370 bus:Director2 2023-03-31 SC245370 core:CurrentFinancialInstruments 2023-03-31 SC245370 core:CurrentFinancialInstruments 2022-03-31 SC245370 2022-03-31 SC245370 core:ShareCapital 2023-03-31 SC245370 core:ShareCapital 2022-03-31 SC245370 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC245370 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC245370 bus:OrdinaryShareClass1 2023-03-31 SC245370 2022-04-01 2023-03-31 SC245370 bus:FullAccounts 2022-04-01 2023-03-31 SC245370 bus:SmallEntities 2022-04-01 2023-03-31 SC245370 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC245370 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC245370 bus:Director1 2022-04-01 2023-03-31 SC245370 bus:Director2 2022-04-01 2023-03-31 SC245370 2021-04-01 2022-03-31 SC245370 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC245370 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC245370 (Scotland)

J B FISHING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

J B FISHING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

J B FISHING LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
J B FISHING LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
2023 2022
£ £
Current assets
Debtors 3 0 2,012
Cash at bank and in hand 41,552 19,200
41,552 21,212
Creditors: amounts falling due within one year 4 ( 17,099) ( 13,896)
Net current assets 24,453 7,316
Total assets less current liabilities 24,453 7,316
Net assets 24,453 7,316
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 24,353 7,216
Total shareholders' funds 24,453 7,316

For the financial year ending 31 March 2023 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 J B Fishing Limited (registered number: SC245370) were approved and authorised for issue by the Director on 12 October 2023. They were signed on its behalf by:

John Buchan
Director
J B FISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
J B FISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
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

J B Fishing 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 45 Scotstown Road, Peterhead, AB42 1LU, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of labour services and is recognised when the service is provided during the year.

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
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial 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 Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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 and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at cost less impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Other debtors 0 2,012

4. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 14,929 10,181
Other creditors 2,170 3,715
17,099 13,896

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Directors Loan Account - amounts owed by company (56) (20)

The loan is interest free and has no set repayment terms.