IRIS Accounts Production v25.2.0.378 SC437432 director 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4374322023-12-31SC4374322024-12-31SC4374322024-01-012024-12-31SC4374322022-12-31SC4374322023-01-012023-12-31SC4374322023-12-31SC437432ns15:Scotland2024-01-012024-12-31SC437432ns14:PoundSterling2024-01-012024-12-31SC437432ns10:Director12024-01-012024-12-31SC437432ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31SC437432ns10:SmallEntities2024-01-012024-12-31SC437432ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-31SC437432ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31SC437432ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC437432ns10:FullAccounts2024-01-012024-12-31SC437432ns10:RegisteredOffice2024-01-012024-12-31SC437432ns5:CurrentFinancialInstruments2024-12-31SC437432ns5:CurrentFinancialInstruments2023-12-31SC437432ns5:Non-currentFinancialInstruments2024-12-31SC437432ns5:Non-currentFinancialInstruments2023-12-31SC437432ns5:ShareCapital2024-12-31SC437432ns5:ShareCapital2023-12-31SC437432ns5:RetainedEarningsAccumulatedLosses2024-12-31SC437432ns5:RetainedEarningsAccumulatedLosses2023-12-31SC437432ns5:PlantMachinery2024-01-012024-12-31SC437432ns5:MotorVehicles2024-01-012024-12-31SC437432ns5:PlantMachinery2023-12-31SC437432ns5:MotorVehicles2023-12-31SC437432ns5:PlantMachinery2024-12-31SC437432ns5:MotorVehicles2024-12-31SC437432ns5:PlantMachinery2023-12-31SC437432ns5:MotorVehicles2023-12-31SC437432ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2023-12-31SC437432ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2024-01-012024-12-31SC437432ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2024-12-31SC437432ns5:LeasedAssetsHeldAsLesseens5:MotorVehicles2023-12-31SC437432ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-31SC437432ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31SC437432ns5:DeferredTaxation2023-12-31SC437432ns5:DeferredTaxation2024-01-012024-12-31SC437432ns5:DeferredTaxation2024-12-31
REGISTERED NUMBER: SC437432 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Wayfarer Fishing Company Ltd

Wayfarer Fishing Company Ltd (Registered number: SC437432)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wayfarer Fishing Company Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr S Harvey





REGISTERED OFFICE: C/O Denholm Fishselling Ltd
Maxwell Place Industrial Estate
Fraserburgh
AB43 9SX





REGISTERED NUMBER: SC437432 (Scotland)





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

Wayfarer Fishing Company Ltd (Registered number: SC437432)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,744 14,320

CURRENT ASSETS
Debtors 5 341 746
Cash at bank 67,893 52,857
68,234 53,603
CREDITORS
Amounts falling due within one year 6 8,502 10,393
NET CURRENT ASSETS 59,732 43,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,476

57,530

CREDITORS
Amounts falling due after more than one
year

7

-

(299

)

PROVISIONS FOR LIABILITIES 8 (2,041 ) (2,721 )
NET ASSETS 68,435 54,510

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 68,425 54,500
SHAREHOLDERS' FUNDS 68,435 54,510

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wayfarer Fishing Company Ltd (Registered number: SC437432)

Balance Sheet - continued
31 December 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 director and authorised for issue on 25 August 2025 and were signed by:





Mr S Harvey - Director


Wayfarer Fishing Company Ltd (Registered number: SC437432)

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

1. STATUTORY INFORMATION

Wayfarer Fishing Company 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Wayfarer Fishing Company Ltd (Registered number: SC437432)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 156 31,230 31,386
DEPRECIATION
At 1 January 2024 76 16,990 17,066
Charge for year 16 3,560 3,576
At 31 December 2024 92 20,550 20,642
NET BOOK VALUE
At 31 December 2024 64 10,680 10,744
At 31 December 2023 80 14,240 14,320

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 29,250
DEPRECIATION
At 1 January 2024 16,910
Charge for year 3,085
At 31 December 2024 19,995
NET BOOK VALUE
At 31 December 2024 9,255
At 31 December 2023 12,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 341 746

Wayfarer Fishing Company Ltd (Registered number: SC437432)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 299 3,591
Taxation and social security 6,773 5,397
Other creditors 1,430 1,405
8,502 10,393

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts - 299

8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 2,041 2,721

Deferred
tax
£   
Balance at 1 January 2024 2,721
Provided during year (680 )
Balance at 31 December 2024 2,041

9. RELATED PARTY DISCLOSURES

The Director operates a current account with the company and as at 31st December 2024 the balance owing to him was £346 (2023: £346). There are no fixed terms of repayment and no interest is accrued.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Harvey.