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REGISTERED NUMBER: SC407642 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

The Jasper Fishing Company Limited

The Jasper Fishing Company Limited (Registered number: SC407642)






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


The Jasper Fishing Company Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr C G Anderson
Mrs J K Anderson





REGISTERED OFFICE: 2 Brucefield
Symbister
Whalsay
Shetland
ZE2 9AA





REGISTERED NUMBER: SC407642 (Scotland)





ACCOUNTANTS: SBP
Accountants
27 Finlayson Street
Fraserburgh
Aberdeenshire
AB43 9JQ

The Jasper Fishing Company Limited (Registered number: SC407642)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,418 7,693
Tangible assets 5 115,865 79,167
121,283 86,860

CURRENT ASSETS
Debtors 6 21,637 23,429
Cash at bank 293,235 239,221
314,872 262,650
CREDITORS
Amounts falling due within one year 7 55,001 45,189
NET CURRENT ASSETS 259,871 217,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

381,154

304,321

PROVISIONS FOR LIABILITIES 25,311 18,747
NET ASSETS 355,843 285,574

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 355,833 285,564
355,843 285,574

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

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

The Jasper Fishing Company Limited (Registered number: SC407642)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr C G Anderson - Director


The Jasper Fishing Company Limited (Registered number: SC407642)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

The Jasper 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 services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

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.

Fishing quota & licence are being amortised evenly over their estimated useful life of ten 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 - 10% on reducing balance
Gear & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

The Jasper Fishing Company Limited (Registered number: SC407642)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 22,750
AMORTISATION
At 1 October 2023 15,057
Charge for year 2,275
At 30 September 2024 17,332
NET BOOK VALUE
At 30 September 2024 5,418
At 30 September 2023 7,693

The intangible asset value comprises of fishing licences.

5. TANGIBLE FIXED ASSETS
Fishing Gear & Motor Computer
vessel equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 81,000 39,680 29,409 815 150,904
Additions - 3,876 47,120 900 51,896
Disposals - (1,833 ) - - (1,833 )
At 30 September 2024 81,000 41,723 76,529 1,715 200,967
DEPRECIATION
At 1 October 2023 38,553 19,502 12,867 815 71,737
Charge for year 4,245 4,227 5,165 95 13,732
Eliminated on disposal - (367 ) - - (367 )
At 30 September 2024 42,798 23,362 18,032 910 85,102
NET BOOK VALUE
At 30 September 2024 38,202 18,361 58,497 805 115,865
At 30 September 2023 42,447 20,178 16,542 - 79,167

The Jasper Fishing Company Limited (Registered number: SC407642)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 21,637 23,429

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 301 78
Taxation and social security 29,274 28,344
Other creditors 25,426 16,767
55,001 45,189

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Anderson.