Silverfin false false 05/04/2024 06/04/2023 05/04/2024 Douglas Coull 04/11/2011 03 December 2024 The principal activity of the Company during the financial year was fishing. SC410665 2024-04-05 SC410665 bus:Director1 2024-04-05 SC410665 2023-04-05 SC410665 core:CurrentFinancialInstruments 2024-04-05 SC410665 core:CurrentFinancialInstruments 2023-04-05 SC410665 core:ShareCapital 2024-04-05 SC410665 core:ShareCapital 2023-04-05 SC410665 core:RetainedEarningsAccumulatedLosses 2024-04-05 SC410665 core:RetainedEarningsAccumulatedLosses 2023-04-05 SC410665 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-05 SC410665 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-05 SC410665 core:Vehicles 2023-04-05 SC410665 core:ComputerEquipment 2023-04-05 SC410665 core:OtherPropertyPlantEquipment 2023-04-05 SC410665 core:Vehicles 2024-04-05 SC410665 core:ComputerEquipment 2024-04-05 SC410665 core:OtherPropertyPlantEquipment 2024-04-05 SC410665 bus:OrdinaryShareClass1 2024-04-05 SC410665 2023-04-06 2024-04-05 SC410665 bus:FilletedAccounts 2023-04-06 2024-04-05 SC410665 bus:SmallEntities 2023-04-06 2024-04-05 SC410665 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 SC410665 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 SC410665 bus:Director1 2023-04-06 2024-04-05 SC410665 core:Vehicles 2023-04-06 2024-04-05 SC410665 core:ComputerEquipment 2023-04-06 2024-04-05 SC410665 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-06 2024-04-05 SC410665 2022-04-06 2023-04-05 SC410665 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-06 2024-04-05 SC410665 core:OtherPropertyPlantEquipment 2023-04-06 2024-04-05 SC410665 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 SC410665 bus:OrdinaryShareClass1 2022-04-06 2023-04-05 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC410665 (Scotland)

DFC (FISHING) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

DFC (FISHING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024

Contents

DFC (FISHING) LIMITED

BALANCE SHEET

AS AT 05 APRIL 2024
DFC (FISHING) LIMITED

BALANCE SHEET (continued)

AS AT 05 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 62,600 17,600
Tangible assets 4 86,606 59,489
149,206 77,089
Current assets
Debtors 5 2,943 663
Cash at bank and in hand 28,554 4,425
31,497 5,088
Creditors: amounts falling due within one year 6 ( 286,217) ( 229,764)
Net current liabilities (254,720) (224,676)
Total assets less current liabilities (105,514) (147,587)
Net liabilities ( 105,514) ( 147,587)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 105,515 ) ( 147,588 )
Total shareholder's deficit ( 105,514) ( 147,587)

For the financial year ending 05 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of DFC (Fishing) Limited (registered number: SC410665) were approved and authorised for issue by the Director on 03 December 2024. They were signed on its behalf by:

Douglas Coull
Director
DFC (FISHING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
DFC (FISHING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DFC (Fishing) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 7 Murison Drive, Rosehearty, AB43 7JR, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £105,514. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

The fishing licence is valued at cost. No amortisation is provided as the director believes the fishing licence has an indefinite useful life.

Trademarks, patents and licences not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Computer equipment 20 % reducing balance
Other property, plant and equipment 16 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 06 April 2023 17,600 17,600
Additions 45,000 45,000
At 05 April 2024 62,600 62,600
Accumulated amortisation
At 06 April 2023 0 0
At 05 April 2024 0 0
Net book value
At 05 April 2024 62,600 62,600
At 05 April 2023 17,600 17,600

4. Tangible assets

Vehicles Computer equipment Other property, plant
and equipment
Total
£ £ £ £
Cost
At 06 April 2023 29,000 0 72,201 101,201
Additions 0 464 74,724 75,188
Disposals 0 0 ( 67,634) ( 67,634)
At 05 April 2024 29,000 464 79,291 108,755
Accumulated depreciation
At 06 April 2023 14,387 0 27,325 41,712
Charge for the financial year 3,653 46 4,384 8,083
Disposals 0 0 ( 27,646) ( 27,646)
At 05 April 2024 18,040 46 4,063 22,149
Net book value
At 05 April 2024 10,960 418 75,228 86,606
At 05 April 2023 14,613 0 44,876 59,489

5. Debtors

2024 2023
£ £
Trade debtors 910 0
Other debtors 2,033 663
2,943 663

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 490 291
Other taxation and social security 0 1,250
Other creditors 285,727 228,223
286,217 229,764

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1