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REGISTERED NUMBER: SC425698 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

C K Trawlers Limited

C K Trawlers Limited (Registered number: SC425698)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

C K Trawlers Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs C S Jack
G A Jack





REGISTERED OFFICE: The Lighthouse
Craigton
North Kessock
Inverness
Highland
IV1 3YG





REGISTERED NUMBER: SC425698 (Scotland)





ACCOUNTANTS: Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND

C K Trawlers Limited (Registered number: SC425698)

Abridged Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 453,079 483,011
453,079 483,011

CURRENT ASSETS
Debtors 82,305 34,548
Cash at bank and in hand 110,312 41,888
192,617 76,436
CREDITORS
Amounts falling due within one year 277,362 328,351
NET CURRENT LIABILITIES (84,745 ) (251,915 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

368,334

231,096

PROVISIONS FOR LIABILITIES 48,232 13,751
NET ASSETS 320,102 217,345

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 320,002 217,245
SHAREHOLDERS' FUNDS 320,102 217,345

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 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.

C K Trawlers Limited (Registered number: SC425698)

Abridged Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:




G A Jack - Director



Mrs C S Jack - Director


C K Trawlers Limited (Registered number: SC425698)

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

1. STATUTORY INFORMATION

C K Trawlers 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.

As at 31 December 2024 the company had net current liabilities of £84,745 (2023 - £251,915). Included within current liabilities are loans from directors and related companies totalling £223,638 (2023 - £224,460). The directors have confirmed that these loans will not be repaid to the detriment of third parties and that they will continue to provide sufficient funding so as to ensure that the company is able to meet its financial obligations as they fall due. Accordingly, the Directors consider it appropriate to adopt the going concern basis in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods, net of discounts and Value Added Tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 licences and quotas 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.
Plant and machinery - 15% on reducing balance
Boat & gear - 5% on reducing balance
Motor vehicles - 25% on reducing balance

C K Trawlers Limited (Registered number: SC425698)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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

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.

Government grants
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss account.

C K Trawlers Limited (Registered number: SC425698)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 336,000
AMORTISATION
At 1 January 2024
and 31 December 2024 336,000
NET BOOK VALUE

At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 877,345
Additions 835
At 31 December 2024 878,180
DEPRECIATION
At 1 January 2024 394,334
Charge for year 30,767
At 31 December 2024 425,101
NET BOOK VALUE
At 31 December 2024 453,079
At 31 December 2023 483,011

6. OTHER FINANCIAL COMMITMENTS

As at 31 December 2024, the company had total commitments under non cancellable operating leases over the remaining life of those leases of £512 (2023 - £512).

C K Trawlers Limited (Registered number: SC425698)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
G A Jack
Balance outstanding at start of year - 79
Amounts repaid - (79 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs C S Jack
Balance outstanding at start of year - 793
Amounts repaid - (793 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan is unsecured, interest free and has no fixed repayment terms.

8. RELATED PARTY DISCLOSURES

The company has received loans from another company with common directors and shareholders. At 31 December 2024 the total balance outstanding was £185,000 (2023 - £185,000). The loan is unsecured, interest free and has no fixed repayment terms and has been included within current creditors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
C K Trawlers Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C K Trawlers Limited for the year ended 31 December 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of C K Trawlers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C K Trawlers Limited and state those matters that we have agreed to state to the Board of Directors of C K Trawlers Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that C K Trawlers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C K Trawlers Limited. You consider that C K Trawlers 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 financial statements of C K Trawlers 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 financial statements.






Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND


24 April 2025