Silverfin false 05/04/2023 06/04/2022 05/04/2023 Douglas Coull 04/11/2011 05 March 2024 The principal activity of the Company during the financial year was fishing. SC410665 2023-04-05 SC410665 bus:Director1 2023-04-05 SC410665 2022-04-05 SC410665 core:CurrentFinancialInstruments 2023-04-05 SC410665 core:CurrentFinancialInstruments 2022-04-05 SC410665 core:ShareCapital 2023-04-05 SC410665 core:ShareCapital 2022-04-05 SC410665 core:RetainedEarningsAccumulatedLosses 2023-04-05 SC410665 core:RetainedEarningsAccumulatedLosses 2022-04-05 SC410665 core:PatentsTrademarksLicencesConcessionsSimilar 2022-04-05 SC410665 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-05 SC410665 core:Vehicles 2022-04-05 SC410665 core:OtherPropertyPlantEquipment 2022-04-05 SC410665 core:Vehicles 2023-04-05 SC410665 core:OtherPropertyPlantEquipment 2023-04-05 SC410665 bus:OrdinaryShareClass1 2023-04-05 SC410665 2022-04-06 2023-04-05 SC410665 bus:FullAccounts 2022-04-06 2023-04-05 SC410665 bus:SmallEntities 2022-04-06 2023-04-05 SC410665 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 SC410665 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 SC410665 bus:Director1 2022-04-06 2023-04-05 SC410665 core:Vehicles 2022-04-06 2023-04-05 SC410665 core:OtherPropertyPlantEquipment 2022-04-06 2023-04-05 SC410665 2021-04-06 2022-04-05 SC410665 bus:OrdinaryShareClass1 2022-04-06 2023-04-05 SC410665 bus:OrdinaryShareClass1 2021-04-06 2022-04-05 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC410665 (Scotland)

DFC (FISHING) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 05 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

DFC (FISHING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2023

Contents

DFC (FISHING) LIMITED

BALANCE SHEET

AS AT 05 APRIL 2023
DFC (FISHING) LIMITED

BALANCE SHEET (continued)

AS AT 05 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 17,600 17,600
Tangible assets 4 59,489 68,556
77,089 86,156
Current assets
Debtors 5 663 3,901
Cash at bank and in hand 4,425 6,065
5,088 9,966
Creditors: amounts falling due within one year 6 ( 229,764) ( 227,632)
Net current liabilities (224,676) (217,666)
Total assets less current liabilities (147,587) (131,510)
Net liabilities ( 147,587) ( 131,510)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 147,588 ) ( 131,511 )
Total shareholder's deficit ( 147,587) ( 131,510)

For the financial year ending 05 April 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 DFC (Fishing) Limited (registered number: SC410665) were approved and authorised for issue by the Director on 05 March 2024. They were signed on its behalf by:

Douglas Coull
Director
DFC (FISHING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2023
DFC (FISHING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 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

DFC (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 7 Murison Drive, Rosehearty, AB43 7JR, 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 notes that the business has net liabilities of £147,587. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met 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 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.

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.

Intangible assets

The fishing licence is valued at cost. No amortisation is provided as the director believes the fishing licence has an indefinite useful life.

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 16 % 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.

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 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.

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 06 April 2022 17,600 17,600
At 05 April 2023 17,600 17,600
Accumulated amortisation
At 06 April 2022 0 0
At 05 April 2023 0 0
Net book value
At 05 April 2023 17,600 17,600
At 05 April 2022 17,600 17,600

4. Tangible assets

Vehicles Other property, plant
and equipment
Total
£ £ £
Cost
At 06 April 2022 29,000 71,884 100,884
Additions 0 317 317
At 05 April 2023 29,000 72,201 101,201
Accumulated depreciation
At 06 April 2022 9,516 22,812 32,328
Charge for the financial year 4,871 4,513 9,384
At 05 April 2023 14,387 27,325 41,712
Net book value
At 05 April 2023 14,613 44,876 59,489
At 05 April 2022 19,484 49,072 68,556

5. Debtors

2023 2022
£ £
Other debtors 663 3,901

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 291 2,562
Other taxation and social security 1,250 0
Other creditors 228,223 225,070
229,764 227,632

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due to director 226,422 223,320

This loan is interest free and has no set terms of repayment