Silverfin false 31/03/2023 01/04/2022 31/03/2023 Robert Wilson 27/03/2003 23 November 2023 The principal activity of the Company during the financial year continued to be that of fishing. SC246664 2023-03-31 SC246664 bus:Director1 2023-03-31 SC246664 2022-03-31 SC246664 core:CurrentFinancialInstruments 2023-03-31 SC246664 core:CurrentFinancialInstruments 2022-03-31 SC246664 core:ShareCapital 2023-03-31 SC246664 core:ShareCapital 2022-03-31 SC246664 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC246664 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC246664 core:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 SC246664 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 SC246664 core:Vehicles 2022-03-31 SC246664 core:OtherPropertyPlantEquipment 2022-03-31 SC246664 core:Vehicles 2023-03-31 SC246664 core:OtherPropertyPlantEquipment 2023-03-31 SC246664 bus:OrdinaryShareClass1 2023-03-31 SC246664 bus:OrdinaryShareClass2 2023-03-31 SC246664 2022-04-01 2023-03-31 SC246664 bus:FullAccounts 2022-04-01 2023-03-31 SC246664 bus:SmallEntities 2022-04-01 2023-03-31 SC246664 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC246664 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC246664 bus:Director1 2022-04-01 2023-03-31 SC246664 core:Vehicles 2022-04-01 2023-03-31 SC246664 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC246664 2021-04-01 2022-03-31 SC246664 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC246664 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC246664 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 SC246664 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 SC246664 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC246664 (Scotland)

R H W FISHING LTD.

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

R H W FISHING LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

R H W FISHING LTD.

BALANCE SHEET

AS AT 31 MARCH 2023
R H W FISHING LTD.

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 120,000 120,000
Tangible assets 4 43,503 62,337
163,503 182,337
Current assets
Debtors 5 59,018 50,153
Cash at bank and in hand 6 1,170 0
60,188 50,153
Creditors: amounts falling due within one year 7 ( 93,296) ( 124,215)
Net current liabilities (33,108) (74,062)
Total assets less current liabilities 130,395 108,275
Provision for liabilities ( 17,108) ( 20,226)
Net assets 113,287 88,049
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 113,187 87,949
Total shareholder's funds 113,287 88,049

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.

Director's responsibilities:

The financial statements of R H W Fishing Ltd. (registered number: SC246664) were approved and authorised for issue by the Director on 23 November 2023. They were signed on its behalf by:

Robert Wilson
Director
R H W FISHING LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
R H W FISHING LTD.

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

R H W Fishing Ltd. (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 Peter & J Johnston Ltd, 1-3 Dalrymple Street, Fraserburgh, AB43 9BH, Scotland, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 sale of fish and related products. This is recognised at point of selling.

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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences not amortised
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:

Vehicles 25 % reducing balance
Other property, plant and equipment 10 years straight line

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.

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 & 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 measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors are 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.

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 the director 1 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 April 2022 120,000 120,000
At 31 March 2023 120,000 120,000
Accumulated amortisation
At 01 April 2022 0 0
At 31 March 2023 0 0
Net book value
At 31 March 2023 120,000 120,000
At 31 March 2022 120,000 120,000

4. Tangible assets

Vehicles Other property, plant
and equipment
Total
£ £ £
Cost
At 01 April 2022 38,775 129,999 168,774
At 31 March 2023 38,775 129,999 168,774
Accumulated depreciation
At 01 April 2022 15,437 91,000 106,437
Charge for the financial year 5,834 13,000 18,834
At 31 March 2023 21,271 104,000 125,271
Net book value
At 31 March 2023 17,504 25,999 43,503
At 31 March 2022 23,338 38,999 62,337

5. Debtors

2023 2022
£ £
Corporation tax 9,661 9,086
Other debtors 49,357 41,067
59,018 50,153

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,170 0
Less: Bank overdrafts 0 ( 20,567)
1,170 (20,567)

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 20,567
Trade creditors 13,078 5,762
Corporation tax 76,449 48,098
Other taxation and social security 304 496
Other creditors 3,465 49,292
93,296 124,215

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due from director 29,662 27,956

This loan is interest free.