Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Kerry Milne 06/02/2019 Scott Milne 06/02/2019 24 February 2025 The principal activity of the Company during the financial year was that of sharefishing services. SC620441 2024-02-29 SC620441 bus:Director1 2024-02-29 SC620441 bus:Director2 2024-02-29 SC620441 core:CurrentFinancialInstruments 2024-02-29 SC620441 core:CurrentFinancialInstruments 2023-02-28 SC620441 2023-02-28 SC620441 core:ShareCapital 2024-02-29 SC620441 core:ShareCapital 2023-02-28 SC620441 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC620441 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC620441 bus:OrdinaryShareClass1 2024-02-29 SC620441 2023-03-01 2024-02-29 SC620441 bus:FilletedAccounts 2023-03-01 2024-02-29 SC620441 bus:SmallEntities 2023-03-01 2024-02-29 SC620441 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC620441 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC620441 bus:Director1 2023-03-01 2024-02-29 SC620441 bus:Director2 2023-03-01 2024-02-29 SC620441 2022-03-01 2023-02-28 SC620441 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 SC620441 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC620441 (Scotland)

SJM LOSSIE FISHING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

SJM LOSSIE FISHING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024

Contents

SJM LOSSIE FISHING LIMITED

BALANCE SHEET

AS AT 29 FEBRUARY 2024
SJM LOSSIE FISHING LIMITED

BALANCE SHEET (continued)

AS AT 29 FEBRUARY 2024
Note 2024 2023
£ £
Current assets
Debtors 3 52,097 42,117
Cash at bank and in hand 366 500
52,463 42,617
Creditors: amounts falling due within one year 4 ( 52,162) ( 41,266)
Net current assets 301 1,351
Total assets less current liabilities 301 1,351
Net assets 301 1,351
Capital and reserves
Called-up share capital 5 10 10
Profit and loss account 291 1,341
Total shareholders' funds 301 1,351

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SJM Lossie Fishing Limited (registered number: SC620441) were approved and authorised for issue by the Board of Directors on 24 February 2025. They were signed on its behalf by:

Kerry Milne
Director
SJM LOSSIE FISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
SJM LOSSIE FISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SJM Lossie Fishing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 18 Sandstone Street, Elgin, IV30 6LJ, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, and impairment loss is recognised in the Statement of Income and Retained Earnings.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Corporation tax 12,907 10,388
Other debtors 39,190 31,729
52,097 42,117

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,980
Taxation and social security 49,882 37,107
Other creditors 2,280 2,179
52,162 41,266

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due from directors 39,190 31,729

Interest is being charged at 2% on this loan and has no set repayment terms.