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REGISTERED NUMBER: SC300754 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Philip Reid Fishing Services Ltd.

Philip Reid Fishing Services Ltd. (Registered number: SC300754)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Philip Reid Fishing Services Ltd.

Company Information
for the Year Ended 31 August 2023







DIRECTOR: P D Reid





REGISTERED OFFICE: 14 Morven Crescent
Peterhead
Aberdeenshire
AB42 1LP





REGISTERED NUMBER: SC300754 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Philip Reid Fishing Services Ltd. (Registered number: SC300754)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,750 -

CURRENT ASSETS
Debtors 5 9,647 14,278
Cash at bank 11,174 17,895
20,821 32,173
CREDITORS
Amounts falling due within one year 6 15,301 17,935
NET CURRENT ASSETS 5,520 14,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,270

14,238

CREDITORS
Amounts falling due after more than one year 7 21,000 10,001
NET ASSETS 270 4,237

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 260 4,227
SHAREHOLDERS' FUNDS 270 4,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Philip Reid Fishing Services Ltd. (Registered number: SC300754)

Balance Sheet - continued
31 August 2023


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 director and authorised for issue on 31 January 2024 and were signed by:





P D Reid - Director


Philip Reid Fishing Services Ltd. (Registered number: SC300754)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Philip Reid Fishing Services Ltd. 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 21,000
At 31 August 2023 21,000
DEPRECIATION
Charge for year 5,250
At 31 August 2023 5,250
NET BOOK VALUE
At 31 August 2023 15,750

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 9,647 14,278

Philip Reid Fishing Services Ltd. (Registered number: SC300754)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 3,000 3,000
Hire purchase contracts 4,200 -
Taxation and social security 5,689 11,034
Other creditors 2,412 3,901
15,301 17,935

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 7,000 10,001
Hire purchase contracts 14,000 -
21,000 10,001

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
P D Reid
Balance outstanding at start of year 7,962 14,424
Amounts repaid (4,950 ) (6,462 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,012 7,962

9. ULTIMATE CONTROLLING PARTY

The controlling party is P D Reid.