REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2023 to 30 November 2024 |
for |
Tarlair Fishing Company Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
7 |
( |
) |
( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
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. |
Tarlair Fishing Company Limited (Registered number: SC108545) |
Balance Sheet - continued |
30 November 2024 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Fishing Vessel and Gear | - |
Plant and machinery | - |
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 |
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 |
Additions |
Disposals | ( |
) |
At 30 November 2024 |
AMORTISATION |
At 1 October 2023 |
Amortisation for period |
Eliminated on disposal | ( |
) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Fishing |
Vessel | Plant and |
and Gear | machinery | Totals |
£ | £ | £ |
COST |
At 1 October 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 November 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 September 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.9.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
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 |
Tax |
Accrued expenses |
Deferred government grants |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.9.23 |
£ | £ |
Deferred government grants |
9. | PROVISIONS FOR LIABILITIES |
30.11.24 | 30.9.23 |
£ | £ |
Deferred tax | - | 42,246 |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
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. |
16 Castle Street |
BANFF |
AB45 1DL |