IRIS Accounts Production v25.1.3.33 SC589402 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5894022023-03-31SC5894022024-03-31SC5894022023-04-012024-03-31SC5894022022-03-31SC5894022022-04-012023-03-31SC5894022023-03-31SC589402ns15:Scotland2023-04-012024-03-31SC589402ns14:PoundSterling2023-04-012024-03-31SC589402ns10:Director12023-04-012024-03-31SC589402ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC589402ns10:SmallEntities2023-04-012024-03-31SC589402ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC589402ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC589402ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC589402ns10:FullAccounts2023-04-012024-03-31SC58940212023-04-012024-03-31SC589402ns10:Director22023-04-012024-03-31SC589402ns10:RegisteredOffice2023-04-012024-03-31SC589402ns5:CurrentFinancialInstruments2024-03-31SC589402ns5:CurrentFinancialInstruments2023-03-31SC589402ns5:Non-currentFinancialInstruments2024-03-31SC589402ns5:Non-currentFinancialInstruments2023-03-31SC589402ns5:ShareCapital2024-03-31SC589402ns5:ShareCapital2023-03-31SC589402ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-31SC589402ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31SC589402ns5:RetainedEarningsAccumulatedLosses2024-03-31SC589402ns5:RetainedEarningsAccumulatedLosses2023-03-31SC589402ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC589402ns5:PlantMachinery2023-04-012024-03-31SC589402ns5:IntangibleAssetsOtherThanGoodwill2023-03-31SC589402ns5:IntangibleAssetsOtherThanGoodwill2024-03-31SC589402ns5:IntangibleAssetsOtherThanGoodwill2023-03-31SC589402ns5:PlantMachinery2023-03-31SC589402ns5:MotorVehicles2023-03-31SC589402ns5:MotorVehicles2023-04-012024-03-31SC589402ns5:PlantMachinery2024-03-31SC589402ns5:MotorVehicles2024-03-31SC589402ns5:PlantMachinery2023-03-31SC589402ns5:MotorVehicles2023-03-31SC589402ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31SC589402ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31SC589402ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-31SC589402ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31SC589402ns5:Secured2024-03-31SC589402ns5:Secured2023-03-31SC5894021ns10:Director12023-03-31SC5894021ns10:Director12022-03-31SC5894021ns10:Director12023-04-012024-03-31SC5894021ns10:Director12022-04-012023-03-31SC5894021ns10:Director12024-03-31SC5894021ns10:Director12023-03-31SC589402ns10:Director222023-03-31SC589402ns10:Director222022-03-31SC589402ns10:Director222023-04-012024-03-31SC589402ns10:Director222022-04-012023-03-31SC589402ns10:Director222024-03-31SC589402ns10:Director222023-03-31
REGISTERED NUMBER: SC589402 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

St. Barr Fishing Ltd

St. Barr Fishing Ltd (Registered number: SC589402)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


St. Barr Fishing Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A A MacLeod
Mr M B MacLeod





REGISTERED OFFICE: 27 Finlayson street
Fraserburgh
Aberdeenshire
AB43 9JQ





REGISTERED NUMBER: SC589402 (Scotland)





ACCOUNTANTS: SBP
Accountants
27 Finlayson Street
Fraserburgh
Aberdeenshire
AB43 9JQ

St. Barr Fishing Ltd (Registered number: SC589402)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 315,700 315,700
Tangible assets 5 380,792 407,822
696,492 723,522

CURRENT ASSETS
Debtors 6 37,583 37,014
Cash at bank 6,360 945
43,943 37,959
CREDITORS
Amounts falling due within one year 7 503,748 514,106
NET CURRENT LIABILITIES (459,805 ) (476,147 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,687

247,375

CREDITORS
Amounts falling due after more than one
year

8

(242,304

)

(266,297

)

PROVISIONS FOR LIABILITIES (6,206 ) -
NET LIABILITIES (11,823 ) (18,922 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 166,480 166,480
Retained earnings 10 (178,403 ) (185,502 )
SHAREHOLDERS' FUNDS (11,823 ) (18,922 )

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

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

St. Barr Fishing Ltd (Registered number: SC589402)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mr A A MacLeod - Director


St. Barr Fishing Ltd (Registered number: SC589402)

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

1. STATUTORY INFORMATION

St. Barr 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 as modified by the revaluation of certain assets.

Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. The directors will not seek to draw their loan balances unless they are satisfied that adequate resources will be available to meet all other creditors as they fall due.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Fishing licence
The licence is reported on a valuation basis and is stated at estimated current market value. On this basis, no amortisation is applied.

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 - at variable rates on reducing balance

Motor Vehicles - at 25% reducing balance basis

- The vessel is currently being depreciated at 6.25% on a reducing balance basis and specific electronic equipment at 25% reducing balance.

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.


St. Barr Fishing Ltd (Registered number: SC589402)

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

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.

Following assessment, the directors considered that no provision for deferred taxation was required for the year under report.

Debtors and creditors receivable /payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 315,700
NET BOOK VALUE
At 31 March 2024 315,700
At 31 March 2023 315,700

Intangible assets comprise the fishing licence.

Cost or valuation at 31 March 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2019 88,900
Valuation in 2020 77,580
Cost 149,220
315,700

St. Barr Fishing Ltd (Registered number: SC589402)

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

5. TANGIBLE FIXED ASSETS
Fishing Motor
vessel vehicles Totals
£    £    £   
COST
At 1 April 2023 554,519 13,000 567,519
Additions 320 - 320
At 31 March 2024 554,839 13,000 567,839
DEPRECIATION
At 1 April 2023 153,705 5,992 159,697
Charge for year 25,598 1,752 27,350
At 31 March 2024 179,303 7,744 187,047
NET BOOK VALUE
At 31 March 2024 375,536 5,256 380,792
At 31 March 2023 400,814 7,008 407,822

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 37,583 37,014

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 29,026 46,571
Trade creditors 54,938 43,118
Other creditors 419,784 424,417
503,748 514,106

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 215,076 234,925
Other creditors 27,228 31,372
242,304 266,297

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 111,172 122,478

Repayable by instalments
Other loans more 5yrs instal 8,336 12,480

St. Barr Fishing Ltd (Registered number: SC589402)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 244,102 281,496

Royal Bank of Scotland PLC holds a floating charge over the assets of the company in respect of bank borrowings.

10. RESERVES

Included within reserves is £166,480 from the revaluation of fishing licences this is an unrealised gain which cannot be distributed.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
Mr A A MacLeod
Balance outstanding at start of year (382,870 ) (363,405 )
Amounts advanced - (20,353 )
Amounts repaid (5,000 ) 888
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (387,870 ) (382,870 )

Mr M B MacLeod
Balance outstanding at start of year (24,990 ) (24,990 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (24,990 ) (24,990 )

Whilst the loan balances are considered short term, there are no fixed terms of repayment for the sums owing to the directors and no interest is accrued. (Figures in brackets denote sums owing to the directors).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A A MacLeod.