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REGISTERED NUMBER: SC108545 (Scotland)















Unaudited Financial Statements

for the Period 1 October 2023 to 30 November 2024

for

Tarlair Fishing Company Limited

Tarlair Fishing Company Limited (Registered number: SC108545)






Contents of the Financial Statements
for the Period 1 October 2023 to 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

Tarlair Fishing Company Limited

Company Information
for the Period 1 October 2023 to 30 November 2024







DIRECTORS: A W Wood
S J Mawhinney





REGISTERED OFFICE: Units 1 & 2
Old School
Cawdor
NAIRN
IV12 5BL





REGISTERED NUMBER: SC108545 (Scotland)





ACCOUNTANTS: Atholl Scott
16 Castle Street
BANFF
AB45 1DL

Tarlair Fishing Company Limited (Registered number: SC108545)

Balance Sheet
30 November 2024

30.11.24 30.9.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 11,219
Tangible assets 5 - 172,565
- 183,784

CURRENT ASSETS
Debtors 6 1,250,000 57,958
Cash at bank 1,208,474 543,787
2,458,474 601,745
CREDITORS
Amounts falling due within one
year

7

(383,527

)

(46,556

)
NET CURRENT ASSETS 2,074,947 555,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,074,947

738,973

CREDITORS
Amounts falling due after more
than one year

8

-

(24,949

)

PROVISIONS FOR LIABILITIES 9 - (42,246 )
NET ASSETS 2,074,947 671,778

CAPITAL AND RESERVES
Called up share capital 85,440 85,440
Capital redemption reserve 84,560 84,560
Retained earnings 1,904,947 501,778
SHAREHOLDERS' FUNDS 2,074,947 671,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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.

Tarlair Fishing Company Limited (Registered number: SC108545)

Balance Sheet - continued
30 November 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 24 February 2025 and were signed on its behalf by:





A W Wood - Director


Tarlair Fishing Company Limited (Registered number: SC108545)

Notes to the Financial Statements
for the Period 1 October 2023 to 30 November 2024

1. STATUTORY INFORMATION

Tarlair Fishing Company 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. 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 represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licences & quota are being amortised evenly over their estimated useful life of fifteen years.

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 and Gear - 10% on cost
Plant and machinery - 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 6 ) .

Tarlair Fishing Company Limited (Registered number: SC108545)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 November 2024

4. INTANGIBLE FIXED ASSETS
Licences
& quota
£   
COST
At 1 October 2023 484,010
Additions 280
Disposals (484,290 )
At 30 November 2024 -
AMORTISATION
At 1 October 2023 472,791
Amortisation for period 6,003
Eliminated on disposal (478,794 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 September 2023 11,219

5. TANGIBLE FIXED ASSETS
Fishing
Vessel Plant and
and Gear machinery Totals
£    £    £   
COST
At 1 October 2023 1,169,560 98,862 1,268,422
Disposals (1,169,560 ) (98,862 ) (1,268,422 )
At 30 November 2024 - - -
DEPRECIATION
At 1 October 2023 1,006,710 89,147 1,095,857
Charge for period 16,270 2,572 18,842
Eliminated on disposal (1,022,980 ) (91,719 ) (1,114,699 )
At 30 November 2024 - - -
NET BOOK VALUE
At 30 November 2024 - - -
At 30 September 2023 162,850 9,715 172,565

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.9.23
£    £   
Trade debtors 1,250,000 41,445
Other debtors - 9,022
Prepayments - 7,491
1,250,000 57,958

Tarlair Fishing Company Limited (Registered number: SC108545)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 November 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.9.23
£    £   
Trade creditors - 24,311
Tax 376,102 16,304
Accrued expenses 7,425 3,424
Deferred government grants - 2,517
383,527 46,556

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.9.23
£    £   
Deferred government grants - 24,949

9. PROVISIONS FOR LIABILITIES
30.11.24 30.9.23
£    £   
Deferred tax - 42,246

Deferred
tax
£   
Balance at 1 October 2023 42,246
Accelerated capital allowances (42,246 )
Balance at 30 November 2024 -

10. RELATED PARTY DISCLOSURES

The company is related to the following undertakings due to the directorships of S J Mawhinney and A W Wood:

Denholm Fishselling Limited
Gavendale Limited

During the period the company incurred management charges of £29,323, gear repair costs of £499, store rental of £600, stores costs of £600, fish quota lease of £7,500 and commission of £23,411 to Denholm Fishselling Limited. There was no amounts outstanding at 30 November 2024 in relation to these costs.

During the period the company paid Gavendale Limited, of which A W Wood is a director, £87,854 in relation to a labour charge. There were no amounts outstanding at 30 November 2024 (£Nil - 2023).

During the period the company received a rebate of commission from Denholm Fishselling Limited of £21,023.

During the period fish quota to the value of £1,250,000 was sold by the company to Denholm Fishselling Limited. The full amount of the sale was outstanding at 30 November 2024.

11. ULTIMATE CONTROLLING PARTY

A W Wood is the ultimate controlling party by virtue of his majority shareholding in the company.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tarlair Fishing Company Limited

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 Tarlair Fishing Company Limited for the period ended 30 November 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.

This report is made solely to the Board of Directors of Tarlair Fishing Company 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 Tarlair Fishing Company Limited and state those matters that we have agreed to state to the Board of Directors of Tarlair Fishing Company Limited, as a body, in this report. 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 Tarlair Fishing Company 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 Tarlair Fishing Company Limited. You consider that Tarlair Fishing Company Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Tarlair Fishing Company 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.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.






Atholl Scott
16 Castle Street
BANFF
AB45 1DL


24 February 2025