REGISTERED NUMBER: |
CRAIGELLACHIE FISHINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 JANUARY 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
CRAIGELLACHIE FISHINGS LIMITED (REGISTERED NUMBER: SC082325) |
ABRIDGED BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Capital reserve | 7 |
Environmental & riverbank |
rectification reserve | 7 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
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 |
Additions |
Disposals | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
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: | £ | £ |
"A" Ordinary | £1 | 2,300 | 2,300 |
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." |