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REGISTERED NUMBER: SC652530 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Iacomus Fishing Company Limited

Iacomus Fishing Company Limited (Registered number: SC652530)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Iacomus Fishing Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J B Duthie
Mrs S Duthie





REGISTERED OFFICE: 1 The Sidings
Hatton
Peterhead
Aberdeenshire
AB42 0DH





REGISTERED NUMBER: SC652530 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Iacomus Fishing Company Limited (Registered number: SC652530)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 17,389 16,103
Cash at bank 29 397
17,418 16,500
CREDITORS
Amounts falling due within one year 5 17,264 16,210
NET CURRENT ASSETS 154 290
TOTAL ASSETS LESS CURRENT
LIABILITIES

154

290

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54 190
SHAREHOLDERS' FUNDS 154 290

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

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

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 Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





Mrs S Duthie - Director


Iacomus Fishing Company Limited (Registered number: SC652530)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Iacomus 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 7,238 7,560
Other debtors 10,151 8,543
17,389 16,103

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4 -
Taxation and social security 14,330 13,538
Other creditors 2,930 2,672
17,264 16,210

Iacomus Fishing Company Limited (Registered number: SC652530)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr J B Duthie
Balance outstanding at start of year 3,194 1,385
Amounts advanced 5,094 4,309
Amounts repaid (4,291 ) (2,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,997 3,194

Mrs S Duthie
Balance outstanding at start of year 3,194 1,999
Amounts advanced 5,094 3,695
Amounts repaid (4,291 ) (2,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,997 3,194

The Directors operate current accounts with the company and as at 31 March 2024 the total balance due to the company was £7,994 (£6,388 2023). There are no specific terms of repayment and no interest is accrued.