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REGISTERED NUMBER: SC578269 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

A S Fishing Ltd

A S Fishing Ltd (Registered number: SC578269)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A S Fishing Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr A S Ritchie





REGISTERED OFFICE: 16 Serald Street
Cruden Bay
Aberdeenshire
AB42 0HA





REGISTERED NUMBER: SC578269 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

A S Fishing Ltd (Registered number: SC578269)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,700 5,971
Tangible assets 5 26,969 29,121
32,669 35,092

CURRENT ASSETS
Debtors 6 647 3,477
Cash at bank 101 757
748 4,234
CREDITORS
Amounts falling due within one year 7 16,897 11,597
NET CURRENT LIABILITIES (16,149 ) (7,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,520

27,729

CREDITORS
Amounts falling due after more than one
year

8

(10,216

)

(9,910

)

PROVISIONS FOR LIABILITIES (3,811 ) (3,768 )
NET ASSETS 2,493 14,051

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,393 13,951
2,493 14,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

A S Fishing Ltd (Registered number: SC578269)

Balance Sheet - continued
31 October 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 director and authorised for issue on 24 March 2025 and were signed by:





Mr A S Ritchie - Director


A S Fishing Ltd (Registered number: SC578269)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

A S Fishing Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 licence are being amortised evenly over their estimated useful life of twenty five 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 - 6.25% on cost
Marine 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

A S Fishing Ltd (Registered number: SC578269)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023
and 31 October 2024 6,768
AMORTISATION
At 1 November 2023 797
Charge for year 271
At 31 October 2024 1,068
NET BOOK VALUE
At 31 October 2024 5,700
At 31 October 2023 5,971

5. TANGIBLE FIXED ASSETS
Fishing Marine Motor Computer
vessel equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 30,157 1,620 2,250 - 34,027
Additions - 417 - 271 688
Disposals - - - (129 ) (129 )
At 31 October 2024 30,157 2,037 2,250 142 34,586
DEPRECIATION
At 1 November 2023 4,037 548 321 - 4,906
Charge for year 1,885 297 482 47 2,711
At 31 October 2024 5,922 845 803 47 7,617
NET BOOK VALUE
At 31 October 2024 24,235 1,192 1,447 95 26,969
At 31 October 2023 26,120 1,072 1,929 - 29,121

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors - 2,400
Other debtors 647 1,077
647 3,477

A S Fishing Ltd (Registered number: SC578269)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 3,000 3,018
Trade creditors 180 -
Taxation and social security 3,247 6,221
Other creditors 10,470 2,358
16,897 11,597

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 10,216 9,910