IRIS Accounts Production v24.3.2.46 SC323704 Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 The company's main activities are to promote pelagic stocks as a sustainable resource including the carrying on of any business or activity required to obtain sustainability certification for pelagic fisheries and promoting other activities which contribute towards sustainable pelagic fisheries. 0 0 false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3237042023-05-31SC3237042024-05-31SC3237042023-06-012024-05-31SC3237042022-05-31SC3237042022-06-012023-05-31SC3237042023-05-31SC323704ns15:Scotland2023-06-012024-05-31SC323704ns14:PoundSterling2023-06-012024-05-31SC323704ns10:Director12023-06-012024-05-31SC323704ns10:Director22023-06-012024-05-31SC323704ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC323704ns10:SmallEntities2023-06-012024-05-31SC323704ns10:AuditExemptWithAccountantsReport2023-06-012024-05-31SC323704ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC323704ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC323704ns10:FullAccounts2023-06-012024-05-31SC323704ns10:Director32023-06-012024-05-31SC323704ns10:Director42023-06-012024-05-31SC323704ns5:RetainedEarningsAccumulatedLosses2023-05-31SC323704ns5:RetainedEarningsAccumulatedLosses2022-05-31SC323704ns5:RetainedEarningsAccumulatedLosses2024-05-31SC323704ns5:RetainedEarningsAccumulatedLosses2023-05-31SC323704ns5:CurrentFinancialInstruments2024-05-31SC323704ns5:CurrentFinancialInstruments2023-05-31SC323704ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-31SC323704ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31
REGISTERED NUMBER: SC323704 (Scotland)















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Scottish Pelagic Sustainability Group
Limited

Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)






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




Page

Report of the Directors 1

Statement of Income and Retained Earnings 4

Balance Sheet 5

Notes to the Financial Statements 6


Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

Report of the Directors
for the Year Ended 31 May 2024

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

REVIEW OF BUSINESS
Company
Information

Chairman Ian Gatt (SPFA)

Directors Ian Gatt (SPFA)
Brian N Isbister (SFPO)
John L Anderson (SFO)
Robert Duthie (SPPA)

Members Scottish Pelagic Processors Association Limited (SPPA)
Scottish Pelagic Fishermen's Association Limited (SPFA)
Scottish Fishermen's Organisation Limited (SFO)
Shetland Fish Producers' Organisation Limited (SFPO)

Accountants SBP
Accountants
2 Cross Street
Fraserburgh, AB43 9EQ

Secretary Ian Gatt (SPFA)

Co. No. SC323704

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

Bankers Bank of Scotland
Seaforth Street
Fraserburgh, AB43 9BB





















Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

Report of the Directors
for the Year Ended 31 May 2024







Directors Report

Report of the Directors of the Scottish Pelagic Sustainability Group Limited to the Seventeenth Annual General Meeting of Members.

The directors submit their report and accounts for the year ended 31 May 2024.

Directorate

The names of the directors unless otherwise stated, have served throughout the financial year are shown on page one.
In terms of the Articles of the Association members will be asked to approve the election of directors for 2024/2025 of the persons nominated for that purpose by the Board of Directors.

Membership

Membership remained unchanged during the year.
Scottish Pelagic Fishermen's Association Limited
Scottish Pelagic Processors Association Limited
Scottish Fishermen's Organisation Limited
Shetland Producers Organisation Limited

Principle Activities

The company's main activities are to promote pelagic stocks as a sustainable resource including the carrying on of any business or activity required to obtain sustainability certification for pelagic fisheries and promoting other activities which contribute to sustainable pelagic fisheries.

Sustainable fisheries accreditation

The Scottish Pelagic Sustainability Group has strived to demonstrate that Scottish pelagic fisheries are sustainable and well managed with an aim of entering all its key fisheries for assessment against the rigorous conditions and principles of Marine Stewardship Council (MSC) accreditation. In recent years due to the unsustainable fishing practices by a number of coastal States it has not been possible to enter the mackerel, ASH or blue whiting fisheries for MSC assessment. Progress on a comprehensive quota sharing agreement between all coastal States will need to be reached before these fisheries can enter the MSC assessment process again.

In 2008 North Sea herring was first certified, the fishery has been subsequently re-certified on a further three occasions, namely 2013, 2017 and 2022. The fishery completed a successful annual audit in January 2023.

Promotion and Media

SPSG continues to engage the services of CatchPR to promote the sustainability of Scottish pelagic stocks and to inform the wider public about the range of activities SPSG undertakes to ensure the pelagic sector is a viable and prosperous industry for fishermen and fish processing workers to work in. This includes promoting the comprehensive Scottish pelagic scientific programme highlighting vessel self-sampling and co-sampling data collection at sea and in processing factories that is used in scientific stock assessments, and also the health benefits of eating pelagic fish.



Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

Report of the Directors
for the Year Ended 31 May 2024

Other activities

The chairman attended several Association of Sustainable Fisheries (ASF) meetings, including the ASF AGM which was held in the margins of the Barcelona Global Seafood Expo.

Finances

SPSG posted a surplus for the year with subscription calls made to members to cover the operating expenditure mainly relating to MSC fisheries accreditation, public relation and media engagement.


Charitable and other contributions

No charitable or political donations were made during the year.

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

Mr I Gatt
Mr J L Anderson
Mr R P Duthie
Mr B N Isbister

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 - Director


11 December 2024

Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

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

31.5.24 31.5.23
£    £   

TURNOVER 30,000 30,000

Administrative expenses 22,403 51,962
7,597 (21,962 )

Other operating income - 32,431
OPERATING PROFIT 7,597 10,469

Interest receivable and similar income 1,714 -
PROFIT BEFORE TAXATION 9,311 10,469

Tax on profit 326 -
PROFIT FOR THE FINANCIAL YEAR 8,985 10,469

Retained earnings at beginning of year 103,580 93,111

RETAINED EARNINGS AT END OF YEAR 112,565 103,580

Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
CURRENT ASSETS
Debtors 3 1,714 -
Cash at bank 111,927 104,205
113,641 104,205
CREDITORS
Amounts falling due within one year 4 1,076 625
NET CURRENT ASSETS 112,565 103,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,565

103,580

RESERVES
Retained earnings 112,565 103,580
112,565 103,580

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 11 December 2024 and were signed on its behalf by:




Mr I Gatt - Director



Mr R P Duthie - Director


Scottish Pelagic Sustainability Group
Limited (Registered number: SC323704)

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
Accounting Convention

The financial Statements have been prepared under the historical cost convention and in accordance with the provision of section 1A "Small Entities" of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

Income

Income Represents members subscriptions and grants received. Revenue is recognised to the extent that it is probable that economic benefit will flow to the entity and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

2. EMPLOYEES AND DIRECTORS

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

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,714 -

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 326 -
Other creditors 750 625
1,076 625