Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Colin John Aston 02/04/2025 14/11/2014 Scott Aston 01/12/2015 Sheena Aston 02/04/2025 14/11/2014 Duncan Macrae 01/12/2015 26 August 2025 The principal activity of the Company during the financial year was boat tours and ferry services. SC491306 2024-11-30 SC491306 bus:Director1 2024-11-30 SC491306 bus:Director2 2024-11-30 SC491306 bus:Director3 2024-11-30 SC491306 bus:Director4 2024-11-30 SC491306 2023-11-30 SC491306 core:CurrentFinancialInstruments 2024-11-30 SC491306 core:CurrentFinancialInstruments 2023-11-30 SC491306 core:ShareCapital 2024-11-30 SC491306 core:ShareCapital 2023-11-30 SC491306 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC491306 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC491306 core:PlantMachinery 2023-11-30 SC491306 core:Vehicles 2023-11-30 SC491306 core:FurnitureFittings 2023-11-30 SC491306 core:OtherPropertyPlantEquipment 2023-11-30 SC491306 core:PlantMachinery 2024-11-30 SC491306 core:Vehicles 2024-11-30 SC491306 core:FurnitureFittings 2024-11-30 SC491306 core:OtherPropertyPlantEquipment 2024-11-30 SC491306 2022-11-30 SC491306 bus:OrdinaryShareClass1 2024-11-30 SC491306 bus:OrdinaryShareClass2 2024-11-30 SC491306 bus:OrdinaryShareClass3 2024-11-30 SC491306 bus:OrdinaryShareClass4 2024-11-30 SC491306 bus:OrdinaryShareClass5 2024-11-30 SC491306 2023-12-01 2024-11-30 SC491306 bus:FilletedAccounts 2023-12-01 2024-11-30 SC491306 bus:SmallEntities 2023-12-01 2024-11-30 SC491306 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC491306 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC491306 bus:Director1 2023-12-01 2024-11-30 SC491306 bus:Director2 2023-12-01 2024-11-30 SC491306 bus:Director3 2023-12-01 2024-11-30 SC491306 bus:Director4 2023-12-01 2024-11-30 SC491306 core:PlantMachinery 2023-12-01 2024-11-30 SC491306 core:Vehicles 2023-12-01 2024-11-30 SC491306 core:FurnitureFittings 2023-12-01 2024-11-30 SC491306 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-12-01 2024-11-30 SC491306 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-12-01 2024-11-30 SC491306 2022-12-01 2023-11-30 SC491306 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC491306 bus:OrdinaryShareClass2 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 SC491306 bus:OrdinaryShareClass3 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 SC491306 bus:OrdinaryShareClass4 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass4 2022-12-01 2023-11-30 SC491306 bus:OrdinaryShareClass5 2023-12-01 2024-11-30 SC491306 bus:OrdinaryShareClass5 2022-12-01 2023-11-30 SC491306 1 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC491306 (Scotland)

MAID OF THE FORTH (2014) LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

MAID OF THE FORTH (2014) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

MAID OF THE FORTH (2014) LTD

BALANCE SHEET

AS AT 30 NOVEMBER 2024
MAID OF THE FORTH (2014) LTD

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 578,584 641,322
578,584 641,322
Current assets
Stocks 4 15,240 8,104
Debtors 5 90,014 72,916
Cash at bank and in hand 6 1,782,631 1,425,589
1,887,885 1,506,609
Creditors: amounts falling due within one year 7 ( 340,645) ( 279,047)
Net current assets 1,547,240 1,227,562
Total assets less current liabilities 2,125,824 1,868,884
Provision for liabilities 8, 9 ( 144,588) ( 160,286)
Net assets 1,981,236 1,708,598
Capital and reserves
Called-up share capital 10 570 570
Profit and loss account 1,980,666 1,708,028
Total shareholders' funds 1,981,236 1,708,598

For the financial year ending 30 November 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 Maid Of The Forth (2014) Ltd (registered number: SC491306) were approved and authorised for issue by the Board of Directors on 26 August 2025. They were signed on its behalf by:

Scott Aston
Director
Duncan Macrae
Director
MAID OF THE FORTH (2014) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
MAID OF THE FORTH (2014) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 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

Maid Of The Forth (2014) Ltd (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 Unit 2 Hawes Pier, South Queensferry, EH30 9TB, 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

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, 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:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Other property, plant and equipment 6.67 - 16 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.

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 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).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and 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, cash and bank balances, are measured at transaction price including transaction costs.

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.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 6

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 December 2023 46,644 34,511 6,418 912,444 1,000,017
At 30 November 2024 46,644 34,511 6,418 912,444 1,000,017
Accumulated depreciation
At 01 December 2023 19,141 31,056 3,047 305,451 358,695
Charge for the financial year 4,126 864 505 57,243 62,738
At 30 November 2024 23,267 31,920 3,552 362,694 421,433
Net book value
At 30 November 2024 23,377 2,591 2,866 549,750 578,584
At 30 November 2023 27,503 3,455 3,371 606,993 641,322

4. Stocks

2024 2023
£ £
Stocks 15,240 8,104

5. Debtors

2024 2023
£ £
Trade debtors 57,460 28,234
Other debtors 32,554 44,682
90,014 72,916

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,782,631 1,425,589

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 42,064 32,834
Corporation tax 139,365 120,513
Other taxation and social security 5,214 1,217
Other creditors 154,002 124,483
340,645 279,047

8. Provision for liabilities

2024 2023
£ £
Deferred tax 144,588 160,286

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 160,286) ( 154,001)
Credited/(charged) to the Statement of Income and Retained Earnings 15,698 ( 6,285)
At the end of financial year ( 144,588) ( 160,286)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
300 A Ordinary shares of £ 1.00 each 300 300
200 B Ordinary shares of £ 1.00 each 200 200
40 C Ordinary shares of £ 1.00 each 40 40
20 D Ordinary shares of £ 1.00 each 20 20
10 E Ordinary shares of £ 1.00 each 10 10
570 570

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors Loan (8,188) (20,145)

Advances

In the year advances were made to one of the directors totalling £28,325 and repayments of £16,368 were received. No interest was charged on the loan with the director.

12. Events after the Balance Sheet date

On the 26 March 2025 the company made a purchase of its own shares.