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REGISTERED NUMBER: SC082325 (Scotland)















CRAIGELLACHIE FISHINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CRAIGELLACHIE FISHINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Dr A W Scott
N I Davidson
D M Higgins
P Beasley





REGISTERED OFFICE: 13 Queens Road
Aberdeen
AB15 4YL





REGISTERED NUMBER: SC082325 (Scotland)






CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,010,202 998,336

CURRENT ASSETS
Debtors 7,221 8,031
Cash at bank 68,555 81,671
75,776 89,702
CREDITORS
Amounts falling due within one year 45,853 43,413
NET CURRENT ASSETS 29,923 46,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,040,125

1,044,625

CREDITORS
Amounts falling due after more than one
year

4,125

8,625
NET ASSETS 1,036,000 1,036,000

CAPITAL AND RESERVES
Called up share capital 6 990,750 990,750
Capital reserve 7 1,500 1,500
Environmental & riverbank
rectification reserve 7 43,750 43,750
SHAREHOLDERS' FUNDS 1,036,000 1,036,000

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

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

CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 September 2024 and were signed on its behalf by:





Dr A W Scott - Director


CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Craigellachie Fishings 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 30% on reducing balance
Motor vehicles - 20% on reducing balance

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.

Revenue recognition
Revenue represents an annual maintenance charge levied on members. Expenses incurred during the year are set off against the charge. Any surplus is carried forward to be set off against expenses in the following years and any deficit carried forward to be recovered from members in the following years. The annual maintenance charge is adjusted in line with anticipated level of expenditure.

3. EMPLOYEES AND DIRECTORS

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

CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 1,053,223
Additions 25,670
Disposals (17,520 )
At 31 January 2024 1,061,373
DEPRECIATION
At 1 February 2023 54,887
Charge for year 10,130
Eliminated on disposal (13,846 )
At 31 January 2024 51,171
NET BOOK VALUE
At 31 January 2024 1,010,202
At 31 January 2023 998,336

Included in Land and Buildings is £969,128 of Pro Indiviso Rights in Craigellachie Water. The Pro Indiviso Rights in Craigellachie Water represents the land and fishing rights owned by the Company. No depreciation is provided in respect of these rights as they are considered to have infinite lives. It is the Company's policy to maintain these assets to such a standard that no significant diminution in value should occur.

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 8,625 13,125

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,300 "A" Ordinary £1 2,300 2,300
989,950 Non participating £1 988,450 988,450
990,750 990,750

CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. RESERVES

In accordance with the company's Articles all "retained earnings" are prohibited from distributions other than on a winding up of the company.

a)
With the climate change, storms and floods are likely to be of greater frequency and severity. So the risk of large one off payments for bank reinstatement, damage to huts and plant is rising. It is prudent to have a reserve for this, and the Directors, having considered that the last damage rectification cost just under £34,000 approximately seven years ago have transferred £43,750 from the retained earnings account to cover an additional provision of £43,750 to be reflected on the Balance Sheet as
" Environmental and River Bank Rectification Reserve".

b)
The final £20,848 that would currently stand within retained earnings has been transferred to accruals for the provision of a new hut.

8. RELATED PARTY DISCLOSURES

The directors of the Company are also members of the company and as such are charged annual maintenance charges and receive similar rights and services from the Company as other members.

CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. SHARE CAPITAL RIGHTS, PRIVILEGES & RESPECTIVE RESTRICTIONS & LIMITATIONS

At the Company's Annual General Meeting held on 13th November 2018 new Articles of Association of the Company were adopted and the following amendment regarding Share Capital rights, privileges and respective restrictions and limitations was implemented by the approval of a Resolution "that the Articles of Association of the Company be amended as follows:
by deleting the present Article 3 and by adopting new Article 3 in the following terms:
3
(a) The share capital of the Company is divided into "A" Ordinary Shares of £1 each (hereinafter referred to as "the "A" Ordinary Shares") and Ordinary Non Participating Shares of £1 each (hereinafter referred to as the "the Non Participating Shares") carrying the respective rights and privileges and subject to the respective restrictions and limitations hereinafter set out videlicet:-

As regards income

The Directors of the Company are not empowered to dispose of any class of share unless a Special Resolution (as defined by Section 378 of the Act) to that effect has been passed at a meeting of the holders of the "A" Ordinary Shares.

Clauses 114-122 and Clauses 128-129 of Table A shall not apply to the Company.

No distribution of profits shall be paid by dividend, bonus or otherwise made by the Company (other than as defined in Article 3 (b)).

As regards capital

Clause 135 of Table A shall not apply to the Company.

(b) On a dissolution, winding up, a return of capital or a reduction of capital of the
Company, all shares in the capital of the Company shall rank pari passu to the extent of the amount paid up and on a winding up any surplus assets shall be distributed amongst the holders of the "A" Ordinary Shares in proportion to the number of "A" Ordinary Shares respectively held by them.

As regards voting

The Non-Participating Shares shall entitle the holders to receive notice of and attend all General Meetings of the members of the Company, but shall not entitle the holders by virtue of their holdings thereof to vote at any such meeting.

(c) The lien conferred by Clause 11 in Table A shall attach also to fully paid up shares and
the Company shall also have a first and paramount lien on all shares, whether fully paid or not, standing registered in the name of any person indebted or under liability to the Company, whether he shall be the sole registered holder thereof or shall be one of two or more joint holders, for all moneys presently payable by him or his estate to the Company. Clause 11 in Table A shall be modified accordingly."