Silverfin false false 25/03/2024 26/03/2023 25/03/2024 Ian Buchan 11/04/1994 Mark Buchan 20/08/2012 Stuart Buchan 20/08/2012 Wilma Lynne Buchan 09/12/2014 21 March 2025 The principal activity of the Company during the financial year was that of pelagic fishing carried out through the company's interest in a fishing vessel partnership. SC150141 2024-03-25 SC150141 bus:Director1 2024-03-25 SC150141 bus:Director2 2024-03-25 SC150141 bus:Director3 2024-03-25 SC150141 bus:Director4 2024-03-25 SC150141 2023-03-25 SC150141 core:CurrentFinancialInstruments 2024-03-25 SC150141 core:CurrentFinancialInstruments 2023-03-25 SC150141 core:ShareCapital 2024-03-25 SC150141 core:ShareCapital 2023-03-25 SC150141 core:CapitalRedemptionReserve 2024-03-25 SC150141 core:CapitalRedemptionReserve 2023-03-25 SC150141 core:RetainedEarningsAccumulatedLosses 2024-03-25 SC150141 core:RetainedEarningsAccumulatedLosses 2023-03-25 SC150141 core:CostValuation 2023-03-25 SC150141 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2024-03-25 SC150141 core:CostValuation 2024-03-25 SC150141 bus:OrdinaryShareClass1 2024-03-25 SC150141 bus:OrdinaryShareClass2 2024-03-25 SC150141 2023-03-26 2024-03-25 SC150141 bus:FilletedAccounts 2023-03-26 2024-03-25 SC150141 bus:SmallEntities 2023-03-26 2024-03-25 SC150141 bus:AuditExemptWithAccountantsReport 2023-03-26 2024-03-25 SC150141 bus:PrivateLimitedCompanyLtd 2023-03-26 2024-03-25 SC150141 bus:Director1 2023-03-26 2024-03-25 SC150141 bus:Director2 2023-03-26 2024-03-25 SC150141 bus:Director3 2023-03-26 2024-03-25 SC150141 bus:Director4 2023-03-26 2024-03-25 SC150141 2022-03-26 2023-03-25 SC150141 bus:OrdinaryShareClass1 2023-03-26 2024-03-25 SC150141 bus:OrdinaryShareClass1 2022-03-26 2023-03-25 SC150141 bus:OrdinaryShareClass2 2023-03-26 2024-03-25 SC150141 bus:OrdinaryShareClass2 2022-03-26 2023-03-25 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC150141 (Scotland)

M.V. QUANTUS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 25 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

M.V. QUANTUS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 2024

Contents

M.V. QUANTUS LIMITED

BALANCE SHEET

AS AT 25 MARCH 2024
M.V. QUANTUS LIMITED

BALANCE SHEET (continued)

AS AT 25 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 28,447,867 24,417,445
28,447,867 24,417,445
Current assets
Cash at bank and in hand 315,296 311,515
315,296 311,515
Creditors: amounts falling due within one year 4 ( 499,181) ( 568,905)
Net current liabilities (183,885) (257,390)
Total assets less current liabilities 28,263,982 24,160,055
Provision for liabilities ( 1,731,822) ( 1,786,544)
Net assets 26,532,160 22,373,511
Capital and reserves
Called-up share capital 5 1,375 1,375
Capital redemption reserve 375 375
Profit and loss account 26,530,410 22,371,761
Total shareholders' funds 26,532,160 22,373,511

For the financial year ending 25 March 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 M.V. Quantus Limited (registered number: SC150141) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

Ian Buchan
Director
M.V. QUANTUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 2024
M.V. QUANTUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 25 MARCH 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

M.V. Quantus 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 5 Albyn Terrace, Aberdeen, AB10 1YP, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

The company has a 48/64 interest in a partnership which owns a fishing vessel.

The company recognises it's share of the partnership's profit or loss to 31 March.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand with original maturities of three months or less.

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 bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially 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 4 4

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 26 March 2023 24,417,445 24,417,445
Share of partnership profits 6,221,178 6,221,178
Drawings (2,190,756) (2,190,756)
At 25 March 2024 28,447,867 28,447,867
Carrying value at 25 March 2024 28,447,867 28,447,867
Carrying value at 25 March 2023 24,417,445 24,417,445

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,600 2,400
Taxation and social security 372,311 523,244
Other creditors 123,270 43,261
499,181 568,905

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
770 Ordinary shares of £ 1.00 each 770 770
605 A ordinary shares of £ 1.00 each 605 605
1,375 1,375

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to directors 108,896 36,825

This loan is interest free and has no set repayment terms.