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REGISTERED NUMBER: SC279830 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED

FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED (REGISTERED NUMBER: SC279830)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Robyn Anne Dutton
Anthony Kenning
Terry Robert Jack
Kenneth Ian Macnab
Alasdair George Hughson
Allan Peter Cameron





SECRETARY: McColl & Associates





REGISTERED OFFICE: 82 Burns Road
ABERDEEN
Aberdeen-shire
AB15 4NS





REGISTERED NUMBER: SC279830 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED (REGISTERED NUMBER: SC279830)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,374 7,165

CURRENT ASSETS
Debtors 5 5,329 15,565
Cash at bank 55,612 53,578
60,941 69,143
CREDITORS
Amounts falling due within one year 6 8,349 10,198
NET CURRENT ASSETS 52,592 58,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,966

66,110

RESERVES
Income and expenditure account 57,966 66,110
57,966 66,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 surplus or deficit 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.

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 13 August 2024 and were signed on its behalf by:




Robyn Anne Dutton - Director


FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED (REGISTERED NUMBER: SC279830)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fish Industry Training Association (Highlands & Islands) Limited is a private company, limited by guarantee , 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED (REGISTERED NUMBER: SC279830)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 23,787 22,717 1,379 47,883
DEPRECIATION
At 1 April 2023 22,911 16,428 1,379 40,718
Charge for year 219 1,572 - 1,791
At 31 March 2024 23,130 18,000 1,379 42,509
NET BOOK VALUE
At 31 March 2024 657 4,717 - 5,374
At 31 March 2023 876 6,289 - 7,165

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 22,717
Transfer to ownership (22,717 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 16,428
Transfer to ownership (16,428 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 6,289

FISH INDUSTRY TRAINING ASSOCIATION
(HIGHLANDS & ISLANDS) LIMITED (REGISTERED NUMBER: SC279830)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,980 9,265
Other debtors 349 6,300
5,329 15,565

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 699 308
Hire purchase contracts - 1,770
Taxation and social security 951 1,146
Other creditors 6,699 6,974
8,349 10,198