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REGISTERED NUMBER: SC448626 (Scotland)








































Scottish Creel Fishermen's Federation

Unaudited Financial Statements

for the Year Ended 31st December 2024






Scottish Creel Fishermen's Federation (Registered number: SC448626)






Contents of the Financial Statements
for the year ended 31st December 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 5


Scottish Creel Fishermen's Federation

Company Information
for the year ended 31st December 2024







Directors: J C Cook
A G Hughson
R W Younger





Registered office: Unit 1
Coldingham Road Industrial Estate
Eyemouth
TD14 5AN





Registered number: SC448626 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Scottish Creel Fishermen's Federation (Registered number: SC448626)

Balance Sheet
31st December 2024

2024 2023
Notes £    £   
Current assets
Debtors 4 1,500 -
Cash at bank 57,971 93,788
59,471 93,788
Creditors
Amounts falling due within one year 5 2,023 2,199
Net current assets 57,448 91,589
Total assets less current liabilities 57,448 91,589

Reserves
Income and expenditure account 57,448 91,589
57,448 91,589

Scottish Creel Fishermen's Federation (Registered number: SC448626)

Balance Sheet - continued
31st December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 surplus or deficit 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 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 24th March 2025 and were signed on its behalf by:




A G Hughson - Director



J C Cook - Director


Scottish Creel Fishermen's Federation (Registered number: SC448626)

Notes to the Financial Statements
for the year ended 31st December 2024

1. Statutory information

Scottish Creel Fishermen's Federation is a private company, limited by guarantee , 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.

Turnover arising from the sale of memberships is recognised when payment has been made.

Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met. Grants are credited to the profit and loss account when the recognition criteria is met, and will be offset against revenue expenditure incurred for costs which are applicable to the grant's activities.

Financial instruments
The following assets and liabilities are classified as financial instruments - accruals.

Accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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.

Scottish Creel Fishermen's Federation (Registered number: SC448626)

Notes to the Financial Statements - continued
for the year ended 31st December 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
Despite making a deficit in the year ended 31st December 2024, the company continues to present a net asset position in the Balance Sheet.The directors understand that the results will vary in respect of the financial performance for the company from year to year but are of the conclusion that it's ongoing operations will not negatively impact the company's ability to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

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

4. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,500 -

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Taxation and social security 1,222 1,399
Other creditors 801 800
2,023 2,199