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REGISTERED NUMBER: SC169155 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FISH MERCHANTS CREDIT MANAGEMENT LIMITED

FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)






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

Chartered Certified Accountants' Report 7

FISH MERCHANTS CREDIT MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: G Thomson
Mrs J Thomson
R Craighead





SECRETARY: G Thomson





REGISTERED OFFICE: C/O Acumen Accountants and Advisors
City South Office Park
Portlethen
Aberdeen
AB12 4XX





REGISTERED NUMBER: SC169155 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,346 14,955

CURRENT ASSETS
Debtors 5 500,511 450,771
Cash at bank and in hand 252 2,783
500,763 453,554
CREDITORS
Amounts falling due within one year 6 183,063 171,379
NET CURRENT ASSETS 317,700 282,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,046

297,130

CREDITORS
Amounts falling due after more than one year 7 144,874 82,190
NET ASSETS 181,172 214,940

CAPITAL AND RESERVES
Called up share capital 9,768 9,768
Share premium 75,231 75,231
Retained earnings 96,173 129,941
SHAREHOLDERS' FUNDS 181,172 214,940

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





G Thomson - Director


FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fish Merchants Credit Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 781 10,173 28,295 126,125 165,374
Additions - - - 1,289 1,289
Disposals (781 ) (10,173 ) - (121,963 ) (132,917 )
At 31 March 2024 - - 28,295 5,451 33,746
DEPRECIATION
At 1 April 2023 781 10,173 14,148 125,317 150,419
Charge for year - - 7,073 825 7,898
Eliminated on disposal (781 ) (10,173 ) - (121,963 ) (132,917 )
At 31 March 2024 - - 21,221 4,179 25,400
NET BOOK VALUE
At 31 March 2024 - - 7,074 1,272 8,346
At 31 March 2023 - - 14,147 808 14,955

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 28,295 4,468 32,763
Transfer to ownership - (4,468 ) (4,468 )
At 31 March 2024 28,295 - 28,295
DEPRECIATION
At 1 April 2023 14,148 4,468 18,616
Charge for year 7,073 - 7,073
Transfer to ownership - (4,468 ) (4,468 )
At 31 March 2024 21,221 - 21,221
NET BOOK VALUE
At 31 March 2024 7,074 - 7,074
At 31 March 2023 14,147 - 14,147

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,150 29,056
Directors' loan accounts 361,901 319,239
Tax 119,149 97,871
VAT 1,232 914
Prepayments 1,079 3,691
500,511 450,771

FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,234 38,226
Other loans 19,665 29,548
Hire purchase contracts 4,981 3,885
Trade creditors 21,791 3,531
Tax 50,618 35,293
Social security and other taxes 3,954 4,078
Other creditors 148 32,059
Accrued expenses 40,672 24,759
183,063 171,379

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years 22,468 29,548
Other loans - 2-5 years 110,224 35,628
Hire purchase contracts 12,182 17,014
144,874 82,190

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 152,357 84,841

The company has a bond comprising of a floating charge in favour of The Royal Bank of Scotland PLC over the undertaking and all property and assets present and future of the company including uncalled capital.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
G Thomson
Balance outstanding at start of year 183,790 183,859
Amounts advanced 77,557 76,711
Amounts repaid (61,462 ) (76,780 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 199,885 183,790

Mrs J Thomson
Balance outstanding at start of year 75,595 75,718
Amounts advanced 50,755 46,494
Amounts repaid (39,037 ) (46,617 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,313 75,595

FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R Craighead
Balance outstanding at start of year 59,854 48,943
Amounts advanced 35,286 50,847
Amounts repaid (20,437 ) (39,936 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 74,703 59,854

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FISH MERCHANTS CREDIT MANAGEMENT LIMITED (REGISTERED NUMBER: SC169155)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fish Merchants Credit Management Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fish Merchants Credit Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fish Merchants Credit Management Limited and state those matters that we have agreed to state to the Board of Directors of Fish Merchants Credit Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fish Merchants Credit Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fish Merchants Credit Management Limited. You consider that Fish Merchants Credit Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fish Merchants Credit Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


26 November 2024