REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Alison Kay Fishing Company Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Alison Kay Fishing Company Limited |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Alison Kay Fishing Company Limited |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
42 Queens Road |
Aberdeen |
AB15 4YE |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Balance Sheet |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Balance Sheet - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Alison Kay Fishing Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
No amortisation has been charged on boat licences and fishing quotas as in the opinion of the directors there has been no impairment in their value during the period and the directors do not envisage any impairment arising in the foreseeable future. The directors have based their assessment on the grounds that the licences and quotas have an indefinite life under current legislation so long as certain conditions are complied with and also the fact that there is no expectation that the market value of the intangible assets will fall in the foreseeable future. |
The company has also rebutted the presumption that intangible assets should be amortised on the grounds that this is necessary to give a true and fair view. |
Tangible fixed assets |
Freehold property | - |
Fishing vessel | - |
Taxation |
Taxation for the year 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 year 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
4. | INTANGIBLE FIXED ASSETS |
Fishing |
licence |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Fishing |
property | vessel | Totals |
£ | £ | £ |
COST |
At 1 October 2023 |
and 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Agents balance |
Other debtors |
VAT |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans and overdrafts |
Other loan | 40,000 | - |
Trade creditors |
Agents balance |
Tax |
Social security and other taxes |
Accrued expenses |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loan over 5 years |
Other loan -1-2 years | 40,000 | - |
Other loan - 2-5 years | 120,000 | - |
Other loan over 5 years | 180,000 | - |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loan over 5 years | 684,000 | 32,035 |
Other loan over 5 years | 180,000 | - |
864,000 | 32,035 |
9. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 October 2023 | 984,266 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Purchase of own shares | (873,045 | ) | 86,870 | (786,175 | ) |
At 30 September 2024 | 389,446 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to/(from) directors subsisted during the years ended 30 September 2024 and 30 September 2023: |
30.9.24 | 30.9.23 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Alison Kay Fishing Company Limited (Registered number: SC202023) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | RELATED PARTY DISCLOSURES |
During the year payments were made to directors and directors' personal fishing companies in their capacity as self employed crew members. The payments for 2024 totalled £360,769 (2023: £324,584) and are included in the financial statements as part of crews wages. |
Mrs Joanne Anderson, wife of Mr James Anderson, received wages of £Nil (2023: £3,600). |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr J A Anderson. |