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REGISTERED NUMBER: SC268506 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JJR FISHING LIMITED

JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)






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


JJR FISHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Dougal
J W West





SECRETARY: J W West





REGISTERED OFFICE: P & J Johnstone Limited
5-8 Bridge Street
Peterhead
Aberdeenshire
AB42 1DH





REGISTERED NUMBER: SC268506 (Scotland)

JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 662,079 713,910
Tangible assets 6 1,504,109 1,648,916
Investments 7 499,800 -
2,665,988 2,362,826

CURRENT ASSETS
Debtors 8 30,179 41,587
Cash at bank 68,830 705,901
99,009 747,488
CREDITORS
Amounts falling due within one year 9 53,606 62,398
NET CURRENT ASSETS 45,403 685,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,711,391

3,047,916

PROVISIONS FOR LIABILITIES 147,168 168,527
NET ASSETS 2,564,223 2,879,389

CAPITAL AND RESERVES
Called up share capital 1,250,000 1,250,000
Share premium 216,427 216,427
Capital redemption reserve 178,572 178,572
Retained earnings 919,224 1,234,390
SHAREHOLDERS' FUNDS 2,564,223 2,879,389

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.

JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)

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 4 September 2024 and were signed on its behalf by:





J W West - Director


JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)

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

1. STATUTORY INFORMATION

JJR Fishing 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.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover
Turnover represents amounts receivable for the sale of fish and related products. This is recognised at point of settling and excludes value added tax.

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 five years.

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.
Fishing vessel - 6.25% on cost
Motor vehicles - 25% reducing balance


JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)

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

3. ACCOUNTING POLICIES - continued
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
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
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 126,350 780,252 906,602
Additions - 32,000 32,000
At 31 December 2023 126,350 812,252 938,602
AMORTISATION
At 1 January 2023 - 192,692 192,692
Charge for year - 83,831 83,831
At 31 December 2023 - 276,523 276,523
NET BOOK VALUE
At 31 December 2023 126,350 535,729 662,079
At 31 December 2022 126,350 587,560 713,910

JJR FISHING LIMITED (REGISTERED NUMBER: SC268506)

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

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 2,267,294 31,800 2,299,094
DEPRECIATION
At 1 January 2023 630,780 19,398 650,178
Charge for year 141,706 3,101 144,807
At 31 December 2023 772,486 22,499 794,985
NET BOOK VALUE
At 31 December 2023 1,494,808 9,301 1,504,109
At 31 December 2022 1,636,514 12,402 1,648,916

7. FIXED ASSET INVESTMENTS
Share in
limited
liability
partnership
£   
COST
Additions 499,800
At 31 December 2023 499,800
NET BOOK VALUE
At 31 December 2023 499,800

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 30,179 41,587

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,238 2,947
Taxation and social security 38,093 55,346
Other creditors 3,275 4,105
53,606 62,398

10. ULTIMATE CONTROLLING PARTY

The controlling party is J W West.