IRIS Accounts Production v24.3.2.46 SC016725 Board of Directors 1.4.23 31.3.24 31.3.24 the promotion and protection of the member's interests. These functions are carried out mainly by the Association or occasionally for it and on its behalf by the Scottish Fishermen's Federation (SFF), of which the Association is one of the 9 constituent members. 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0167252023-03-31SC0167252024-03-31SC0167252023-04-012024-03-31SC0167252022-03-31SC0167252022-04-012023-03-31SC0167252023-03-31SC016725ns15:Scotland2023-04-012024-03-31SC016725ns14:PoundSterling2023-04-012024-03-31SC016725ns10:Director12023-04-012024-03-31SC016725ns10:CompanySecretary12023-04-012024-03-31SC016725ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC016725ns10:SmallEntities2023-04-012024-03-31SC016725ns10:AuditExemptWithAccountantsReport2023-04-012024-03-31SC016725ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC016725ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC016725ns10:FullAccounts2023-04-012024-03-31SC016725ns10:Director22023-04-012024-03-31SC016725ns10:Director32023-04-012024-03-31SC016725ns10:Director42023-04-012024-03-31SC016725ns10:Director52023-04-012024-03-31SC016725ns10:Director62023-04-012024-03-31SC016725ns10:Director72023-04-012024-03-31SC016725ns10:Director82023-04-012024-03-31SC016725ns10:Director92023-04-012024-03-31SC016725ns10:Director102023-04-012024-03-31SC016725ns10:Director112023-04-012024-03-31SC016725ns10:Director122023-04-012024-03-31SC016725ns10:Director132023-04-012024-03-31SC016725ns10:Director142023-04-012024-03-31SC016725ns10:Director152023-04-012024-03-31SC016725ns10:Director162023-04-012024-03-31SC016725ns10:Director172023-04-012024-03-31SC016725ns10:Director182023-04-012024-03-31SC016725ns10:Director192023-04-012024-03-31SC016725ns10:Director202023-04-012024-03-31SC016725ns10:Director212023-04-012024-03-31SC016725ns10:Director222023-04-012024-03-31SC016725ns10:Director232023-04-012024-03-31SC016725ns5:RetainedEarningsAccumulatedLosses2023-03-31SC016725ns5:RetainedEarningsAccumulatedLosses2022-03-31SC016725ns5:RetainedEarningsAccumulatedLosses2024-03-31SC016725ns5:RetainedEarningsAccumulatedLosses2023-03-31SC016725ns5:CurrentFinancialInstruments2024-03-31SC016725ns5:CurrentFinancialInstruments2023-03-31SC016725ns5:FurnitureFittings2023-04-012024-03-31SC016725ns5:ComputerEquipment2023-04-012024-03-31SC016725ns5:OwnedAssets2023-04-012024-03-31SC016725ns5:OwnedAssets2022-04-012023-03-31SC016725ns5:FurnitureFittings2023-03-31SC016725ns5:ComputerEquipment2023-03-31SC016725ns5:FurnitureFittings2024-03-31SC016725ns5:ComputerEquipment2024-03-31SC016725ns5:FurnitureFittings2023-03-31SC016725ns5:ComputerEquipment2023-03-31SC016725ns5:CostValuation2023-03-31SC016725ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC016725ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: SC016725 (Scotland)















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Scottish Pelagic Fishermen's
Association Limited

Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)






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




Page

Report of the Directors 1

Statement of Income and Retained Earnings 6

Balance Sheet 7

Notes to the Financial Statements 8


Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

REVIEW OF BUSINESS

Company
Information Directors at 31 March 2024

Chairman ALEXANDER WISEMAN, 3 Sandyhill Gardens, Banff
Vice-Chairman DAVID K HUTCHISON, 1 Hillhead, Symbister, Whalsay

Fraserburgh STEPHEN BELLANY, Greenrigs, Tillynaught, Portsoy, Banff
JAMES DUTHIE, Den of Cortes, Lonmay, Fraserburgh
STALE HANSEN, 47 Strichen Road, Fraserburgh
STEPHEN McCULLOUGH, 9 Riverdale Drive, Kilkeel, Northern Ireland
ANDREW ORR, 218 Kilkeel Road, Annalong, Northern Ireland
ALLAN SIMPSON, Fae-me-well House, Cothal, Fintry, Aberdeen
MICHAEL TAIT, Silveracres, Rathen, Fraserburgh
NICHOLAS TAIT, 9 Cromarty Crescent, Fraserburgh
ROBERT TAIT JNR, Lochside House, Lonmay, Fraserburgh
GEORGE R WEST, 9 Castlehill Drive, Gardenstown
ADAM J WISEMAN, 27 Colleonard Drive, Banff
ALEXANDER WISEMAN, 3 Sandyhill Gardens, Banff
WILLIAM WHYTE, 2 Greenbank Road, Fraserburgh

Peterhead ALEXANDER BUCHAN JNR, Woodcote, Ellis Hill, Inverugie, Peterhead
JOHN G BUCHAN, tigh-na-tu.laich, 1 North Road, Peterhead
MARK BUCHAN, The Walled Garden, Crimonmogate, Lonmay

Shetland GEORGE W ANDERSON, Harbour View, Symbister, Whalsay
DAVID K HUTCHISON, 1 Hillhead, Symbister, Whalsay
LAURENCE IRVINE, Aviemore, Symbister, Whalsay
ANDREW PILLAR, Altaire Fishing Co, Cattedown Road, Plymouth
ARTHUR STEWART, Trevora, Brough, Whalsay
RICHARD WILLIAMSON, Millbrook, Hillhead, Symbister, Whalsay, Shetland
ALLISTER IRVINE, Karinya, Symbister, Whalsay, Shetland

Accountants SBP
Accountants and Business Advisors
2 Cross Street
Fraserburgh, AB43 9EQ

Secretary Ian Gatt

Registered Office Heritage House
135 - 139 Shore Street
Fraserburgh, AB43 9BP

Bankers Bank of Scotland
Seaforth Street
Fraserburgh, AB43 9BB





Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Report of the Directors
for the Year Ended 31 March 2024





Directors Report

REPORT of the DIRECOTRS of the SCOTTISH PELAGIC FISHERMEN'S ASSOCIATION LIMITED to the Ninety Second ANNUAL GENERAL MEETING of MEMBERS

Directorate

The names of the directors, all of whom have served throughout the financial year, are shown on page one.

Membership

The total number of vessels represented by the Association as at 31 March 2024 was 22. The boat owner directors as at 31 March 2024 was 23.

Principal activities

The company's main activities are the promotion and protection of the member's interests. These
functions are carried out mainly by the Association or occasionally for it and on its behalf by the
Scottish Fishermen's Federation (SFF), of which the Association is one of the 8 constituent members.

Finance and administration

Association vessel membership was 22. SFF Services enjoyed another decent trading year which provided a rebate to the SFF constituent associations. The Association made a charge against one Association vessel undertaking western herring surveys to offset costs associated with the corresponding scientific survey work. The Association joined an EU funded CiBrinna project that will bring in funding to cover the costs of the SPFA Chief Scientific Officer's work during the project's five year lifespan. Overall financial expenditure increased during the financial period.

The Association posted a deficit for the year.

Charitable and other contributions

Donations totalling £2,000 were made to the Royal National Mission to Deep Sea Fishermen.
No fishing qualification training grants were made during this financial period.

Fishing opportunities

Coastal States did not reach a comprehensive mackerel agreement by end of March 2023. UK, Norway and Faroe Islands began a series of trilateral negotiations with the aspiration to reach a partial agreement between the parties. After two rounds of negotiations Faroe Islands took the decision to disengage from the talks. UK and Norway continued and finally reached a bilateral agreement in June 2023. The arrangement resulted in Norway reducing their mackerel quota share. It also resulted in the UK obtaining a mackerel quota transfer from Norway in exchange for granting Norway access to UK waters to fish 60% of their national quota. This bilateral fishery arrangement was valid for 2023.

In September coastal States negotiations resumed again during the autumn period and into the first quarter of 2024. Despite intense negotiations during multiple meetings no comprehensive agreed was reached before the end of March 2024. At the annual meeting in October 2023 Coastal States did agree the 2024 mackerel TAC at 739,386 tonnes, which was in line with the ICES scientific advice.


Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Report of the Directors
for the Year Ended 31 March 2024

A significant amount of Coastal States ASH and blue whiting negotiation meetings were also convened during this period. Unfortunately, very little progress was made in reaching a comprehensive quota sharing agreement. The parties did agree on 2024 TAC levels for both stocks during October which were set in accordance with the ICES scientific advice.

The blue whiting stock had benefitted for another strong year of young fish recruitment. Therefore, the TAC increased to 1,529,754 tonnes as per the ICES recommendation. ASH had suffered from the opposite with very little young fish entering the fishery, although encouraging signs of recruitment were now being picked up by scientific surveys. The TAC was reduced by 24% to 390,010 tonnes. Coastal States agreed to intensify discussions on quota shares for both stocks.

ICES 2025 TAC advice for the North Sea herring fishery was 510,323 tonnes representing a 33% TAC increase from the previous year. SPFA vessel owners expressed concern over the continually fluctuating scientific advice for this stock. Following several negotiation meetings between EU, Norway and UK fisheries managers, it was decided to set the TAC level in accordance with the scientific advice.

Bilateral fishery agreements were concluded with both Faroe Islands and Norway. No pelagic quotas were exchanged with Faroe Islands meaning there would be no reciprocal access to each other's waters. Norway was permitted to fish 20,000 tonnes of its own North Sea herring quota in UK waters. In return the UK can fish 20,000 tonnes of its own ASH herring quota in Norwegian waters.

EU and UK signed a bilateral fishery agreement for 2024 on 6 December 2023. Further quota share adjustments were made for most pelagic stocks as per the Trade and Cooperation Agreement.


Sustainability of Pelagic Fisheries

SPFA continues to act as the secretariat and chair for the Scottish Pelagic Sustainability Group. The North Sea herring fishery had undergone a successful MSC audit in January 2023.

SFF

SFF marked the 50th anniversary of the establishment of the federation. A celebratory high profile event was held in Edinburgh Castle that the SPFA chairman and CEO attended.

Science

Dr Mackinson successfully co-ordinated the 7th industry/science western herring acoustic survey and sampling programme.

Data from the Scottish Pelagic Industry Science Data Collection Programme continues to be submitted to ICES for use in pelagic fisheries stock assessments.

Funding applications were submitted for an EU Cibrinna bycatch project which was successful. An application to the Defra Seafood fund for a continuation of the "Catch to Batch" project was unsuccessful. However, a pilot project involving one of the major retailers and a pelagic processing factory commenced to test the project feasibility before wider involvement.

Dr Mackinson continues to play an influential role within the ICES scientific community.

Work continued to collate VMS and vessel plotter data to produce maps of pelagic fishing activity for use as evidence in discussion with Offshore Renewable Energy (ORE) developers. With the scale of ORE projects ongoing both the CSO and CEO were fully engaged in multiple meetings with respective developers.

Dr Mackinson continued to co-author peer reviewed papers in scientific journals.





Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Report of the Directors
for the Year Ended 31 March 2024





Branches

The company had 3 Branches at the year end as shown in the following table.

No Name of Branch Name and address of Branch Secretary Telephone Number

1 FRASERBURGH IAN GATT 01346 510714
Heritage House
135 - 139 Shore Street
Fraserburgh
AB43 9BP

2 PETERHEAD GRAEME RATTRAY 01779 476384
Messrs Bain Henry Reid
Chartered Accountants
28 Broad Street
Peterhead

3 SHETLAND BRIAN ISBISTER 01595 693768
C/o Shetland Fishermen' Association
Mair' Quay
Holmsgarth
Lerwick
Shetland
ZE1 0PW

Branches are funded by means of annual grants approved by the Board of Directors


Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Report of the Directors
for the Year Ended 31 March 2024

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr A Wiseman
Mr D K Hutchinson
Mr S Bellany
Mr G W Anderson
Mr J G Buchan
Mr M Buchan
Mr A Buchan jnr
Mr J B Duthie
Mr A Irvine
Mr L Irvine
Mr S McCullough
Mr A Orr
Mr A C Pillar
Mr A Simpson
Mr A Stewart
Mr M Tait
Mr R Tait
Mr G R West
Mr W Whyte
Mr R Williamson
Mr N Tait
Mr A J Wiseman
Mr S Hansen

POLITICAL DONATIONS AND EXPENDITURE
Charitable donations totalling £2,200 were made during the year. No political donations were made.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr I Gatt - Secretary


18 December 2024

Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Statement of Income and
Retained Earnings
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 443,333 441,414

Administrative expenses 457,431 391,286
OPERATING (LOSS)/PROFIT 3 (14,098 ) 50,128

Interest receivable and similar income 9,638 1,975
(LOSS)/PROFIT BEFORE TAXATION (4,460 ) 52,103

Tax on (loss)/profit 1,831 375
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(6,291

)

51,728

Retained earnings at beginning of year 520,598 468,870

RETAINED EARNINGS AT END OF YEAR 514,307 520,598

Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 700 1,881
Investments 5 500 500
1,200 2,381

CURRENT ASSETS
Debtors 6 88,411 89,841
Cash at bank and in hand 441,375 439,315
529,786 529,156
CREDITORS
Amounts falling due within one year 7 16,679 10,939
NET CURRENT ASSETS 513,107 518,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,307

520,598

RESERVES
Retained earnings 514,307 520,598
514,307 520,598

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:



Mr R Williamson - Director


Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

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

1. ACCOUNTING POLICIES

Basis of preparation
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.

Income
Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
The company is a non profit making, non trading, entity and as such any surplus income is not subject to Corporation Tax other than interest received from bank deposits which is taxed as investment income.

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.

2. EMPLOYEES AND DIRECTORS

Staff numbers and costs

The average number of persons employed by the company (including directors) during the year, analysed by category, was as follows:

Number of employees
31/03/202431/03/2023
Directors2323
Administration33
2626

Only two directors received payroll remuneration which totalled £9,150.
Directors received a daily allowance for attending meetings throughout the year which totalled £3,900

3. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 1,181 1,337

Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 40,109 19,724 59,833
Disposals (153 ) - (153 )
At 31 March 2024 39,956 19,724 59,680
DEPRECIATION
At 1 April 2023 39,725 18,227 57,952
Charge for year 128 1,053 1,181
Eliminated on disposal (153 ) - (153 )
At 31 March 2024 39,700 19,280 58,980
NET BOOK VALUE
At 31 March 2024 256 444 700
At 31 March 2023 384 1,497 1,881

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 500
NET BOOK VALUE
At 31 March 2024 500
At 31 March 2023 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 79 1,780
Other debtors 88,332 88,061
88,411 89,841

Scottish Pelagic Fishermen's
Association Limited (Registered number: SC016725)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 606 -
Trade creditors 2,481 30
Taxation and social security 1,831 375
Other creditors 11,761 10,534
16,679 10,939