Greenstone Fishing Limited SC666436 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is operating a fishing boat Digita Accounts Production Advanced 6.30.9574.0 true SC666436 2023-08-01 2024-07-31 SC666436 2024-07-31 SC666436 bus:OrdinaryShareClass1 bus:OtherShareType 2024-07-31 SC666436 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC666436 core:ShareCapital 2024-07-31 SC666436 core:CurrentFinancialInstruments 2024-07-31 SC666436 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 SC666436 core:Non-currentFinancialInstruments 2024-07-31 SC666436 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 SC666436 core:OtherPropertyPlantEquipment 2024-07-31 SC666436 bus:SmallEntities 2023-08-01 2024-07-31 SC666436 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC666436 bus:FullAccounts 2023-08-01 2024-07-31 SC666436 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC666436 bus:RegisteredOffice 2023-08-01 2024-07-31 SC666436 bus:Director1 2023-08-01 2024-07-31 SC666436 bus:Director2 2023-08-01 2024-07-31 SC666436 bus:OrdinaryShareClass1 bus:OtherShareType 2023-08-01 2024-07-31 SC666436 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC666436 bus:Agent1 2023-08-01 2024-07-31 SC666436 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 SC666436 core:ShareCapital 2023-08-01 2024-07-31 SC666436 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 SC666436 core:PlantMachinery 2023-08-01 2024-07-31 SC666436 countries:AllCountries 2023-08-01 2024-07-31 SC666436 2023-07-31 SC666436 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC666436 core:ShareCapital 2023-07-31 SC666436 core:OtherPropertyPlantEquipment 2023-07-31 SC666436 2022-08-01 2023-07-31 SC666436 2023-07-31 SC666436 bus:OrdinaryShareClass1 bus:OtherShareType 2023-07-31 SC666436 core:CurrentFinancialInstruments 2023-07-31 SC666436 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 SC666436 core:Non-currentFinancialInstruments 2023-07-31 SC666436 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 SC666436 core:OtherPropertyPlantEquipment 2023-07-31 SC666436 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 SC666436 core:ShareCapital 2022-08-01 2023-07-31 SC666436 2022-07-31 SC666436 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC666436 core:ShareCapital 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC666436

Greenstone Fishing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Greenstone Fishing Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

 

Greenstone Fishing Limited

Company Information

Directors

Mr Eoghann MacLeod

Mr Angus MacPhail

Registered office

6 Grean
Castlebay
Isle of Barra
Western Isles
HS9 5XU

Accountants

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Greenstone Fishing Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Eoghann MacLeod

Mr Angus MacPhail

Principal activity

The principal activity of the company is operating a fishing boat

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Mr Angus MacPhail
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Greenstone Fishing Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Greenstone Fishing Limited for the year ended 31 July 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Greenstone Fishing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Greenstone Fishing Limited and state those matters that we have agreed to state to the Board of Directors of Greenstone Fishing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Greenstone Fishing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Greenstone Fishing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Greenstone Fishing Limited. You consider that Greenstone Fishing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Greenstone Fishing 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 accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

17 March 2025

 

Greenstone Fishing Limited

Profit and Loss Account for the Year Ended 31 July 2024

Note

2024
£

2023
£

Turnover

 

62,545

135,859

Cost of sales

 

(28,256)

(84,814)

Gross profit

 

34,289

51,045

Administrative expenses

 

(37,899)

(81,422)

Operating loss

 

(3,610)

(30,377)

Interest payable and similar expenses

 

(2,800)

(3,000)

Loss before tax

3

(6,410)

(33,377)

Loss for the financial year

 

(6,410)

(33,377)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Greenstone Fishing Limited

Statement of Comprehensive Income for the Year Ended 31 July 2024

2024
£

2023
£

Loss for the year

(6,410)

(33,377)

Total comprehensive income for the year

(6,410)

(33,377)

 

Greenstone Fishing Limited

(Registration number: SC666436)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

83,142

103,927

Current assets

 

Debtors

5

366

3,479

Cash at bank and in hand

 

32,087

33,883

 

32,453

37,362

Creditors: Amounts falling due within one year

6

(80,683)

(85,608)

Net current liabilities

 

(48,230)

(48,246)

Total assets less current liabilities

 

34,912

55,681

Creditors: Amounts falling due after more than one year

6

(69,031)

(83,390)

Net liabilities

 

(34,119)

(27,709)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(34,219)

(27,809)

Shareholders' deficit

 

(34,119)

(27,709)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Mr Angus MacPhail
Director

 

Greenstone Fishing Limited

Statement of Changes in Equity for the Year Ended 31 July 2024

Share capital
£

Retained earnings
£

Total
£

At 1 August 2023

100

(27,809)

(27,709)

Loss for the year

-

(6,410)

(6,410)

At 31 July 2024

100

(34,219)

(34,119)

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

100

5,568

5,668

Loss for the year

-

(33,377)

(33,377)

At 31 July 2023

100

(27,809)

(27,709)

 

Greenstone Fishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Greenstone Fishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

20,785

25,981

 

Greenstone Fishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

200,669

200,669

At 31 July 2024

200,669

200,669

Depreciation

At 1 August 2023

96,742

96,742

Charge for the year

20,785

20,785

At 31 July 2024

117,527

117,527

Carrying amount

At 31 July 2024

83,142

83,142

At 31 July 2023

103,927

103,927

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

804

Other debtors

366

2,675

 

366

3,479

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

16,660

15,586

Other creditors

64,023

70,022

80,683

85,608

Creditors: amounts falling due after more than one year

 

Greenstone Fishing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

69,031

83,390

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

37,036

43,333

Other borrowings

31,995

40,057

69,031

83,390