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REGISTERED NUMBER: SC471963 (Scotland)




















James and Jennifer Fairnie Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025






James and Jennifer Fairnie Limited (Registered number: SC471963)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


James and Jennifer Fairnie Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: J Fairnie
J B Fairnie



REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
EH39 5PX



REGISTERED NUMBER: SC471963 (Scotland)



ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX



BANKERS: Bank of Scotland
The Direct Business Bank
PO BOX 17235
Edinburgh
EH11 1YH

James and Jennifer Fairnie Limited (Registered number: SC471963)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 34,691 3,911

CURRENT ASSETS
Debtors 5 8,936 -
Cash at bank 3,518 25,623
12,454 25,623
CREDITORS
Amounts falling due within one year 6 9,024 13,529
NET CURRENT ASSETS 3,430 12,094
TOTAL ASSETS LESS CURRENT LIABILITIES 38,121 16,005

PROVISIONS FOR LIABILITIES 6,592 744
NET ASSETS 31,529 15,261

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 31,429 15,161
SHAREHOLDERS' FUNDS 31,529 15,261

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

James and Jennifer Fairnie Limited (Registered number: SC471963)

Balance Sheet - continued
31 March 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 May 2025 and were signed on its behalf by:





J Fairnie - Director


James and Jennifer Fairnie Limited (Registered number: SC471963)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

James and Jennifer Fairnie 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 and revenue recognition
Turnover represents invoiced provision of fishing services. Turnover is recognised when the services are supplied to the customer.

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 etc - 15% on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


James and Jennifer Fairnie Limited (Registered number: SC471963)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
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.

Going concern
The accounts have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future. The directors have no concerns that the company will continue to trade for at least 12 months from the signing of these financial statements.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

James and Jennifer Fairnie Limited (Registered number: SC471963)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 32,239
Additions 40,000
At 31 March 2025 72,239
DEPRECIATION
At 1 April 2024 28,328
Charge for year 9,220
At 31 March 2025 37,548
NET BOOK VALUE
At 31 March 2025 34,691
At 31 March 2024 3,911

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 7,200 -
Other debtors 1,736 -
8,936 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security - 1,736
Other creditors 9,024 11,793
9,024 13,529