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REGISTERED NUMBER: SC370440 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

FRUITFUL BOUGH FISHING COMPANY LIMITED

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRUITFUL BOUGH FISHING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: S J Mawhinney
D B Mclean
R W West





REGISTERED OFFICE: Denholm Fishselling Ltd Unit 1-2
Old School
Cawdor
Nairn
IV12 5BL





REGISTERED NUMBER: SC370440 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
aberdeenshire
AB42 1WN

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 151,457 172,137
Tangible assets 5 1,910,678 2,040,676
2,062,135 2,212,813

CURRENT ASSETS
Debtors 6 48,279 56,130
Cash at bank 27,154 118,403
75,433 174,533
CREDITORS
Amounts falling due within one year 7 131,577 155,962
NET CURRENT (LIABILITIES)/ASSETS (56,144 ) 18,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,005,991

2,231,384

CREDITORS
Amounts falling due after more than one
year

8

(858,017

)

(930,569

)

PROVISIONS FOR LIABILITIES 9 (197,920 ) (217,288 )
NET ASSETS 950,054 1,083,527

CAPITAL AND RESERVES
Called up share capital 10 750,000 750,000
Retained earnings 11 200,054 333,527
SHAREHOLDERS' FUNDS 950,054 1,083,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

BALANCE SHEET - continued
31ST 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 26th August 2024 and were signed on its behalf by:





S J Mawhinney - Director


FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

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

1. STATUTORY INFORMATION

Fruitful Bough 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. 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.

Licences & Quotas are being amortised evenly over their estimated useful life of twenty 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 - Straight line over 20 years
Plant and machinery etc - 10% - 25% straight line

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.

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.

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023
and 31st December 2023 413,600
AMORTISATION
At 1st January 2023 241,463
Charge for year 20,680
At 31st December 2023 262,143
NET BOOK VALUE
At 31st December 2023 151,457
At 31st December 2022 172,137

5. TANGIBLE FIXED ASSETS
Plant and
Fishing machinery
Vessel etc Totals
£    £    £   
COST
At 1st January 2023 2,331,018 312,913 2,643,931
Additions - 40,500 40,500
Disposals - (25,351 ) (25,351 )
At 31st December 2023 2,331,018 328,062 2,659,080
DEPRECIATION
At 1st January 2023 445,814 157,441 603,255
Charge for year 116,550 48,878 165,428
Eliminated on disposal - (20,281 ) (20,281 )
At 31st December 2023 562,364 186,038 748,402
NET BOOK VALUE
At 31st December 2023 1,768,654 142,024 1,910,678
At 31st December 2022 1,885,204 155,472 2,040,676

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 47,619 55,965
Prepayments 660 165
48,279 56,130

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,457 100,457
Other loans - 50,000
Trade creditors 27,920 3,405
Other creditors 3,200 2,100
131,577 155,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 100,457 100,457
Bank loans - 2-5 years 301,370 301,370
Bank loans more 5 yr by instal 456,190 528,742
858,017 930,569

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 456,190 528,742

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 197,920 217,288

Deferred
tax
£   
Balance at 1st January 2023 217,288
Credit to Income Statement during year (19,368 )
Balance at 31st December 2023 197,920

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
750,000 Ordinary £1 750,000 750,000

FRUITFUL BOUGH FISHING COMPANY LIMITED (REGISTERED NUMBER: SC370440)

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

11. RESERVES
Retained
earnings
£   

At 1st January 2023 333,527
Deficit for the year (133,473 )
At 31st December 2023 200,054

12. RELATED PARTY DISCLOSURES

RWFB Limited provided fisherman's services to the company throughout the year. Invoiced value of these services was £99,500.

13. ULTIMATE CONTROLLING PARTY

The controlling party is RWFB Limited.

The ultimate controlling party is R W West.