Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 SC551127 Mr John Cardno Mr Lewis Cardno iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC551127 2023-12-31 SC551127 2024-12-31 SC551127 2024-01-01 2024-12-31 SC551127 frs-core:CurrentFinancialInstruments 2024-12-31 SC551127 frs-core:ComputerEquipment 2024-12-31 SC551127 frs-core:ComputerEquipment 2024-01-01 2024-12-31 SC551127 frs-core:ComputerEquipment 2023-12-31 SC551127 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 SC551127 frs-core:MotorVehicles 2024-12-31 SC551127 frs-core:MotorVehicles 2024-01-01 2024-12-31 SC551127 frs-core:MotorVehicles 2023-12-31 SC551127 frs-core:OtherResidualIntangibleAssets 2024-12-31 SC551127 frs-core:OtherResidualIntangibleAssets 2023-12-31 SC551127 frs-core:ShareCapital 2024-12-31 SC551127 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC551127 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC551127 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC551127 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC551127 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC551127 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC551127 frs-bus:Director1 2024-01-01 2024-12-31 SC551127 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 SC551127 frs-countries:Scotland 2024-01-01 2024-12-31 SC551127 2022-12-31 SC551127 2023-12-31 SC551127 2023-01-01 2023-12-31 SC551127 frs-core:CurrentFinancialInstruments 2023-12-31 SC551127 frs-core:ShareCapital 2023-12-31 SC551127 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC551127
St Kilda Fishing Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC551127
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 43,000 43,000
Tangible Assets 5 87,144 14,897
130,144 57,897
CURRENT ASSETS
Debtors 6 1,531 7,703
Cash at bank and in hand 289,511 245,077
291,042 252,780
Creditors: Amounts Falling Due Within One Year 7 (29,725 ) (31,856 )
NET CURRENT ASSETS (LIABILITIES) 261,317 220,924
TOTAL ASSETS LESS CURRENT LIABILITIES 391,461 278,821
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,786 ) (2,830 )
NET ASSETS 369,675 275,991
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 369,575 275,891
SHAREHOLDERS' FUNDS 369,675 275,991
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Cardno
Director
06/06/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
St Kilda Fishing Company Limited is a private company, limited by shares, incorporated in Scotland, registered number SC551127 . The registered office is 13 Mathieson Road, Cairnbulg, Fraserburgh, Aberdeenshire, AB43 8ZH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise fishing qota. It is not amortised to profit and loss account on the basis that the director believes that it would have a higher residual value at the end of 20 years than the current book value.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Quota
£
Cost
As at 1 January 2024 43,000
As at 31 December 2024 43,000
Net Book Value
As at 31 December 2024 43,000
As at 1 January 2024 43,000
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 24,674 2,063 26,737
Additions 77,618 - 77,618
As at 31 December 2024 102,292 2,063 104,355
Depreciation
As at 1 January 2024 11,084 756 11,840
Provided during the period 5,044 327 5,371
As at 31 December 2024 16,128 1,083 17,211
Net Book Value
As at 31 December 2024 86,164 980 87,144
As at 1 January 2024 13,590 1,307 14,897
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 794 -
VAT 737 709
Director's loan account - 6,994
1,531 7,703
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 26,797 30,305
Other creditors 1,491 201
Accruals and deferred income 1,385 1,350
Director's loan account 52 -
29,725 31,856
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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