Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Aberdeen Fish Producers Organisation 24/02/2012 Alan John Addison 13/02/2015 Donald Anderson 27/01/2020 Anne Birnie 26/07/2016 Dr Andrew Donald Brown 21/06/2021 Charles Bruce 20/02/2014 Peter Bruce 22/12/2021 Gary Buchan 17/11/2012 Graeme Wilson Buchan 19/12/2018 John Buchan 12/09/2018 John Ritchie Clark 22/12/1999 James John Cowie 22/12/2015 Mark Lovie 23/09/2013 Peter Lovie 13/05/2011 David Taylor Milne 04/03/2011 Colin James Mitchell 20/12/2001 Michael Park 27/12/1991 John Tait Stephen Jnr 30/10/2014 Colin George Stephen 22/12/2021 Neil Sutherland 12/06/2025 01/06/2015 George West 23/12/2002 William Wiseman Jnr 23/12/1997 Kevin Wood 08/03/2017 01 August 2025 The company which is limited by guarantee is a Trade Protection Association, the principle activity of which are protection and promotion of all members of the Association including skippers, crew members and fishermen both nationally and internationally, either directly or in the consequence of being members of the Scottish Fishermen's Federation. SC022672 2024-12-31 SC022672 bus:Director1 2024-12-31 SC022672 bus:Director2 2024-12-31 SC022672 bus:Director3 2024-12-31 SC022672 bus:Director4 2024-12-31 SC022672 bus:Director5 2024-12-31 SC022672 bus:Director6 2024-12-31 SC022672 bus:Director7 2024-12-31 SC022672 bus:Director8 2024-12-31 SC022672 bus:Director9 2024-12-31 SC022672 bus:Director10 2024-12-31 SC022672 bus:Director11 2024-12-31 SC022672 bus:Director12 2024-12-31 SC022672 bus:Director13 2024-12-31 SC022672 bus:Director14 2024-12-31 SC022672 bus:Director15 2024-12-31 SC022672 bus:Director16 2024-12-31 SC022672 bus:Director17 2024-12-31 SC022672 bus:Director18 2024-12-31 SC022672 bus:Director19 2024-12-31 SC022672 bus:Director20 2024-12-31 SC022672 bus:Director21 2024-12-31 SC022672 bus:Director22 2024-12-31 SC022672 bus:Director23 2024-12-31 SC022672 2023-12-31 SC022672 core:CurrentFinancialInstruments 2024-12-31 SC022672 core:CurrentFinancialInstruments 2023-12-31 SC022672 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC022672 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC022672 core:OfficeEquipment 2023-12-31 SC022672 core:OfficeEquipment 2024-12-31 SC022672 core:CostValuation 2023-12-31 SC022672 core:CostValuation 2024-12-31 SC022672 2024-01-01 2024-12-31 SC022672 bus:FilletedAccounts 2024-01-01 2024-12-31 SC022672 bus:SmallEntities 2024-01-01 2024-12-31 SC022672 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC022672 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 SC022672 bus:Director1 2024-01-01 2024-12-31 SC022672 bus:Director2 2024-01-01 2024-12-31 SC022672 bus:Director3 2024-01-01 2024-12-31 SC022672 bus:Director4 2024-01-01 2024-12-31 SC022672 bus:Director5 2024-01-01 2024-12-31 SC022672 bus:Director6 2024-01-01 2024-12-31 SC022672 bus:Director7 2024-01-01 2024-12-31 SC022672 bus:Director8 2024-01-01 2024-12-31 SC022672 bus:Director9 2024-01-01 2024-12-31 SC022672 bus:Director10 2024-01-01 2024-12-31 SC022672 bus:Director11 2024-01-01 2024-12-31 SC022672 bus:Director12 2024-01-01 2024-12-31 SC022672 bus:Director13 2024-01-01 2024-12-31 SC022672 bus:Director14 2024-01-01 2024-12-31 SC022672 bus:Director15 2024-01-01 2024-12-31 SC022672 bus:Director16 2024-01-01 2024-12-31 SC022672 bus:Director17 2024-01-01 2024-12-31 SC022672 bus:Director18 2024-01-01 2024-12-31 SC022672 bus:Director19 2024-01-01 2024-12-31 SC022672 bus:Director20 2024-01-01 2024-12-31 SC022672 bus:Director21 2024-01-01 2024-12-31 SC022672 bus:Director22 2024-01-01 2024-12-31 SC022672 bus:Director23 2024-01-01 2024-12-31 SC022672 core:OfficeEquipment 2024-01-01 2024-12-31 SC022672 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: SC022672 (Scotland)

THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,397 8,419
Investments 4 5,000 5,000
6,397 13,419
Current assets
Debtors 5 1,318,866 205,790
Cash at bank and in hand 978,527 1,451,542
2,297,393 1,657,332
Creditors: amounts falling due within one year 6 ( 431,005) ( 51,169)
Net current assets 1,866,388 1,606,163
Total assets less current liabilities 1,872,785 1,619,582
Net assets 1,872,785 1,619,582
Reserves
Profit and loss account 1,872,785 1,619,582
Total reserves 1,872,785 1,619,582

For the financial 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.

Directors' responsibilities:

The financial statements of The Scottish White Fish Producers' Association Limited (registered number: SC022672) were approved and authorised for issue by the Board of Directors on 01 August 2025. They were signed on its behalf by:

Michael Park
Director
THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
THE SCOTTISH WHITE FISH PRODUCERS' ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Scottish White Fish Producers' Association Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Fraserburgh Business Centre, South Harbour Road, Fraserburgh, AB43 9TN, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when it becomes receivable.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price .

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 12,409 12,409
Disposals ( 9,256) ( 9,256)
At 31 December 2024 3,153 3,153
Accumulated depreciation
At 01 January 2024 3,990 3,990
Charge for the financial year 1,509 1,509
Disposals ( 3,743) ( 3,743)
At 31 December 2024 1,756 1,756
Net book value
At 31 December 2024 1,397 1,397
At 31 December 2023 8,419 8,419

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 5,000 5,000
At 31 December 2024 5,000 5,000
Carrying value at 31 December 2024 5,000 5,000
Carrying value at 31 December 2023 5,000 5,000

5. Debtors

2024 2023
£ £
Trade debtors 260,345 5,000
Other debtors 1,058,521 200,790
1,318,866 205,790

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 401,761 19,888
Taxation and social security 13,098 11,268
Other creditors 16,146 20,013
431,005 51,169

7. Liability of members

The members of the The Scottish White Fish Producers' Association Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 6,115 8,105

The above is in relation to the rental of a photocopier which is over a 60 month lease.