IRIS Accounts Production v24.3.2.46 SC737693 Board of Directors 1.8.23 31.3.24 31.3.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC7376932023-07-31SC7376932024-03-31SC7376932023-08-012024-03-31SC7376932022-07-06SC7376932022-07-072023-07-31SC7376932023-07-31SC737693ns15:Scotland2023-08-012024-03-31SC737693ns14:PoundSterling2023-08-012024-03-31SC737693ns10:Director12023-08-012024-03-31SC737693ns10:PrivateLimitedCompanyLtd2023-08-012024-03-31SC737693ns10:SmallEntities2023-08-012024-03-31SC737693ns10:AuditExempt-NoAccountantsReport2023-08-012024-03-31SC737693ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-03-31SC737693ns10:SmallCompaniesRegimeForAccounts2023-08-012024-03-31SC737693ns10:FullAccounts2023-08-012024-03-31SC737693ns10:Director22023-08-012024-03-31SC737693ns10:Director32023-08-012024-03-31SC737693ns10:Director42023-08-012024-03-31SC737693ns10:RegisteredOffice2023-08-012024-03-31SC737693ns5:CurrentFinancialInstruments2024-03-31SC737693ns5:CurrentFinancialInstruments2023-07-31SC737693ns5:Non-currentFinancialInstruments2024-03-31SC737693ns5:Non-currentFinancialInstruments2023-07-31SC737693ns5:ShareCapital2024-03-31SC737693ns5:ShareCapital2023-07-31SC737693ns5:RetainedEarningsAccumulatedLosses2024-03-31SC737693ns5:RetainedEarningsAccumulatedLosses2023-07-31SC737693ns5:PlantMachinery2023-08-012024-03-31SC737693ns5:PlantMachinery2023-07-31SC737693ns5:PlantMachinery2024-03-31SC737693ns5:PlantMachinery2023-07-31SC737693ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31SC737693ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC737693ns5:Secured2024-03-31SC737693ns5:Secured2023-07-31
REGISTERED NUMBER: SC737693 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

FOR

ANDROMEDA FISHING LIMITED

ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ANDROMEDA FISHING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024







DIRECTORS: M A Stephen
Mrs K A Stephen
M J Dougal
D A Cardno





REGISTERED OFFICE: 5-8 Bridge Street
Peterhead
Aberdeenshire
AB42 1DH





REGISTERED NUMBER: SC737693 (Scotland)

ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 656,250 703,125

CURRENT ASSETS
Debtors 6 14,896 26,135
Cash at bank 33,067 32,966
47,963 59,101
CREDITORS
Amounts falling due within one year 7 383,405 320,185
NET CURRENT LIABILITIES (335,442 ) (261,084 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,808

442,041

CREDITORS
Amounts falling due after more than one
year

8

960,566

937,643
NET LIABILITIES (639,758 ) (495,602 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (639,858 ) (495,702 )
SHAREHOLDERS' FUNDS (639,758 ) (495,602 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)

BALANCE SHEET - continued
31 MARCH 2024


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 5 February 2025 and were signed on its behalf by:





D A Cardno - Director


ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Andromeda Fishing 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.
Fishing vessel - 6.25% on cost

Taxation
Taxation for the period 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.


ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
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 period 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fishing
vessel
£   
COST
At 1 August 2023
and 31 March 2024 750,000
DEPRECIATION
At 1 August 2023 46,875
Charge for period 46,875
At 31 March 2024 93,750
NET BOOK VALUE
At 31 March 2024 656,250
At 31 July 2023 703,125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 14,896 26,135

ANDROMEDA FISHING LIMITED (REGISTERED NUMBER: SC737693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 179,989 136,182
Other creditors 163,416 144,003
383,405 320,185

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 333,166 350,243
Other creditors 627,400 587,400
960,566 937,643

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 173,166 190,243

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 373,166 390,243

The bank holds a bond and floating charge over the business assets and a ships mortgage over the fishing vessel.

10. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 400,000 400,000

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Stephen.