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REGISTERED NUMBER: SC411749 (Scotland)











Unaudited Financial Statements for the Year Ended 30th November 2023

for

Meric Fish Limited

Meric Fish Limited (Registered number: SC411749)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Meric Fish Limited

Company Information
for the Year Ended 30th November 2023







DIRECTOR: J A Aitchison





REGISTERED OFFICE: 4 Kirkennan View
Palnackie
Castle Douglas
DUMFRIESSHIRE
DG7 1PR





REGISTERED NUMBER: SC411749 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Meric Fish Limited (Registered number: SC411749)

Balance Sheet
30th November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,500 6,500
Tangible assets 5 6,555 7,855
13,055 14,355

CURRENT ASSETS
Stocks 300 300
Debtors 6 359 503
Cash at bank 442 22
1,101 825
CREDITORS
Amounts falling due within one year 7 51,315 45,998
NET CURRENT LIABILITIES (50,214 ) (45,173 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,159 ) (30,818 )

PROVISIONS FOR LIABILITIES 1,245 1,492
NET LIABILITIES (38,404 ) (32,310 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (38,504 ) (32,410 )
SHAREHOLDERS' FUNDS (38,404 ) (32,310 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

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 30th August 2024 and were signed by:





J A Aitchison - Director


Meric Fish Limited (Registered number: SC411749)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Meric Fish 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. 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.

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 Licence are being amortised evenly over their estimated useful life of nil years.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

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 - 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Meric Fish Limited (Registered number: SC411749)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st December 2022
and 30th November 2023 6,500
NET BOOK VALUE
At 30th November 2023 6,500
At 30th November 2022 6,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2022 13,560
Additions 600
At 30th November 2023 14,160
DEPRECIATION
At 1st December 2022 5,705
Charge for year 1,900
At 30th November 2023 7,605
NET BOOK VALUE
At 30th November 2023 6,555
At 30th November 2022 7,855

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 359 503

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 900 600
Other creditors 50,415 45,398
51,315 45,998

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

9. RELATED PARTY DISCLOSURES

At 30th November 2023 the company owed Mr J Aitchison the sole director, the sum of £49,515 (2022 - £44,498) by way of an interest free directors current account.

Meric Fish Limited (Registered number: SC411749)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

10. ULTIMATE CONTROLLING PARTY

J A Aitchison, a director, owns 100% of the share capital and therefore has overall control of the company.

11. GOING CONCERN

As at the balance sheet date liabilities exceeded assets by £38,404 (2022 - £32,310). The director has agreed to continue to support the company and therefore in his opinion the company remains a going concern.