Silverfin false false 31/12/2024 01/01/2024 31/12/2024 David Taylor Milne 20/08/2020 Michael Park 20/08/2020 01 August 2025 The principal activity of the Company during the financial period was that of an agency to provide crew abroad vessels for fishing industry, offshore supply and guardship duty. SC671516 2024-12-31 SC671516 bus:Director1 2024-12-31 SC671516 bus:Director2 2024-12-31 SC671516 2023-12-31 SC671516 core:CurrentFinancialInstruments 2024-12-31 SC671516 core:CurrentFinancialInstruments 2023-12-31 SC671516 core:ShareCapital 2024-12-31 SC671516 core:ShareCapital 2023-12-31 SC671516 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC671516 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC671516 core:OfficeEquipment 2023-12-31 SC671516 core:OfficeEquipment 2024-12-31 SC671516 bus:OrdinaryShareClass1 2024-12-31 SC671516 2024-01-01 2024-12-31 SC671516 bus:FilletedAccounts 2024-01-01 2024-12-31 SC671516 bus:SmallEntities 2024-01-01 2024-12-31 SC671516 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC671516 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC671516 bus:Director1 2024-01-01 2024-12-31 SC671516 bus:Director2 2024-01-01 2024-12-31 SC671516 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 SC671516 2023-01-01 2023-12-31 SC671516 core:OfficeEquipment 2024-01-01 2024-12-31 SC671516 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC671516 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC671516 (Scotland)

SWFPA CREW SERVICES LIMITED

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

SWFPA CREW SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

SWFPA CREW SERVICES LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
SWFPA CREW SERVICES LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,080 635
1,080 635
Current assets
Debtors 4 250,442 160,330
Cash at bank and in hand 81,868 72,896
332,310 233,226
Creditors: amounts falling due within one year 5 ( 205,175) ( 89,233)
Net current assets 127,135 143,993
Total assets less current liabilities 128,215 144,628
Provision for liabilities 0 ( 159)
Net assets 128,215 144,469
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 128,213 144,467
Total shareholders' funds 128,215 144,469

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 SWFPA Crew Services Limited (registered number: SC671516) 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
SWFPA CREW SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
SWFPA CREW SERVICES 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

SWFPA Crew Services Limited (the Company) is a private company, limited by shares, 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, Scotland, 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 £.

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.

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.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 4 years straight line

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

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.

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 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 1,978 1,978
Additions 1,099 1,099
At 31 December 2024 3,077 3,077
Accumulated depreciation
At 01 January 2024 1,343 1,343
Charge for the financial year 654 654
At 31 December 2024 1,997 1,997
Net book value
At 31 December 2024 1,080 1,080
At 31 December 2023 635 635

4. Debtors

2024 2023
£ £
Trade debtors 193,488 160,099
Corporation tax 5,515 0
Other debtors 51,439 231
250,442 160,330

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 81,350 8,494
Taxation and social security 14,217 30,590
Other creditors 109,608 50,149
205,175 89,233

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 1,701 2,382

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

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Loan from The Scottish White Fish Producers' Association Limited 106,352 47,908

There are no set repayment terms nor interest applied to this balance.