IRIS Accounts Production v24.1.9.2 SC335301 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3353012022-12-31SC3353012023-12-31SC3353012023-01-012023-12-31SC3353012021-12-31SC3353012022-01-012022-12-31SC3353012022-12-31SC335301ns15:Scotland2023-01-012023-12-31SC335301ns14:PoundSterling2023-01-012023-12-31SC335301ns10:Director12023-01-012023-12-31SC335301ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC335301ns10:SmallEntities2023-01-012023-12-31SC335301ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC335301ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC335301ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC335301ns10:FullAccounts2023-01-012023-12-31SC33530112023-01-012023-12-31SC335301ns10:Director22023-01-012023-12-31SC335301ns10:CompanySecretary12023-01-012023-12-31SC335301ns10:RegisteredOffice2023-01-012023-12-31SC335301ns5:CurrentFinancialInstruments2023-12-31SC335301ns5:CurrentFinancialInstruments2022-12-31SC335301ns5:Non-currentFinancialInstruments2023-12-31SC335301ns5:Non-currentFinancialInstruments2022-12-31SC335301ns5:ShareCapital2023-12-31SC335301ns5:ShareCapital2022-12-31SC335301ns5:RetainedEarningsAccumulatedLosses2023-12-31SC335301ns5:RetainedEarningsAccumulatedLosses2022-12-31SC335301ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31SC335301ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-31SC335301ns5:PlantMachinery2023-01-012023-12-31SC335301ns5:MotorVehicles2023-01-012023-12-31SC335301ns5:ComputerEquipment2023-01-012023-12-31SC335301ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-31SC335301ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-31SC335301ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-31SC335301ns5:PlantMachinery2022-12-31SC335301ns5:MotorVehicles2022-12-31SC335301ns5:ComputerEquipment2022-12-31SC335301ns5:PlantMachinery2023-12-31SC335301ns5:MotorVehicles2023-12-31SC335301ns5:ComputerEquipment2023-12-31SC335301ns5:PlantMachinery2022-12-31SC335301ns5:MotorVehicles2022-12-31SC335301ns5:ComputerEquipment2022-12-31SC335301ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC335301ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC335301ns5:Secured2023-12-31SC335301ns5:Secured2022-12-31
REGISTERED NUMBER: SC335301 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CRYSTAL RIVER FISHING COMPANY LIMITED

CRYSTAL RIVER FISHING COMPANY LIMITED (REGISTERED NUMBER: SC335301)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRYSTAL RIVER FISHING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Cardno
D Cardno





SECRETARY: Mrs T J Cardno





REGISTERED OFFICE: 1-3 Dalrymple Street
Fraserburgh
AB43 9BH





REGISTERED NUMBER: SC335301 (Scotland)

CRYSTAL RIVER FISHING COMPANY LIMITED (REGISTERED NUMBER: SC335301)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 819,150 842,452
Tangible assets 6 3,257,928 3,278,386
4,077,078 4,120,838

CURRENT ASSETS
Debtors 7 298,524 339,285
Cash at bank 11,644 41,980
310,168 381,265
CREDITORS
Amounts falling due within one year 8 144,547 125,314
NET CURRENT ASSETS 165,621 255,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,242,699

4,376,789

CREDITORS
Amounts falling due after more than one
year

9

(1,656,274

)

(1,828,812

)

PROVISIONS FOR LIABILITIES (227,727 ) -
NET ASSETS 2,358,698 2,547,977

CAPITAL AND RESERVES
Called up share capital 640 640
Retained earnings 2,358,058 2,547,337
SHAREHOLDERS' FUNDS 2,358,698 2,547,977

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2024 and were signed on its behalf by:





D Cardno - Director


CRYSTAL RIVER FISHING COMPANY LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

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.

Fishing quota are being amortised evenly over their estimated useful life of fifty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fishing vessel - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 31 DECEMBER 2023

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Fishing
quota
£   
COST
At 1 January 2023
and 31 December 2023 1,165,084
AMORTISATION
At 1 January 2023 322,632
Amortisation for year 23,302
At 31 December 2023 345,934
NET BOOK VALUE
At 31 December 2023 819,150
At 31 December 2022 842,452

CRYSTAL RIVER FISHING COMPANY LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. TANGIBLE FIXED ASSETS
Fishing Motor Computer
vessel vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 3,344,737 39,993 5,368 3,390,098
Additions - 96,276 916 97,192
Disposals - (136,269 ) - (136,269 )
At 31 December 2023 3,344,737 - 6,284 3,351,021
DEPRECIATION
At 1 January 2023 68,292 38,303 5,117 111,712
Charge for year 19,621 246 63 19,930
Eliminated on disposal - (38,549 ) - (38,549 )
At 31 December 2023 87,913 - 5,180 93,093
NET BOOK VALUE
At 31 December 2023 3,256,824 - 1,104 3,257,928
At 31 December 2022 3,276,445 1,690 251 3,278,386

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 298,524 339,285

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 115,000 122,926
Trade creditors 9,902 -
Taxation and social security 11,844 -
Other creditors 7,801 2,388
144,547 125,314

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,656,274 1,828,812

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,196,274 1,319,997

CRYSTAL RIVER FISHING COMPANY LIMITED (REGISTERED NUMBER: SC335301)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,771,274 1,951,738

The bank holds a bond and floating charge over the business assets and a ships mortgage over the fishing vessel.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.