REGISTERED NUMBER: SC278853 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

North East Fishermen's Training

Association Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W Wiseman

Mr J Reid (Snr)

Mr J West

Mr A Campbell

Mr D Cardno

Mr N Tait

Mr G West

Mr A West

REGISTERED OFFICE:

Kinnaird House

South Harbour Road

Fraserburgh

Aberdeenshire

AB43 9TA

REGISTERED NUMBER:

SC278853 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

12,886

17,668

CURRENT ASSETS

Debtors

5

20,048

20,458

Cash at bank and in hand

391,040

381,365

411,088

401,823

CREDITORS

Amounts falling due within one year

6

6,076

6,938

NET CURRENT ASSETS

405,012

394,885

TOTAL ASSETS LESS CURRENT LIABILITIES

417,898

412,553

RESERVES

Other reserves

119,149

119,149

Income and expenditure account

298,749

293,404

417,898

412,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

Mr J West - Director

Mr J Reid (Snr) - Director

1.	STATUTORY INFORMATION

North East Fishermen's Training Association Limited is a private company, limited by guarantee , 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 training services provided. 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.

Garage

-

25% on reducing balance

Instructional equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 tax. Tax is recognised in the Income Statement, 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 is not provided for.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Instructional

and

Garage

equipment

fittings

£

£

£

COST

At 1 April 2024

and 31 March 2025

844

15,353

2,586

DEPRECIATION

At 1 April 2024

844

9,241

2,451

Charge for year

-

1,528

16

At 31 March 2025

844

10,769

2,467

NET BOOK VALUE

At 31 March 2025

-

4,584

119

At 31 March 2024

-

6,112

135

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

19,198

1,630

39,611

DEPRECIATION

At 1 April 2024

8,399

1,008

21,943

Charge for year

2,700

538

4,782

At 31 March 2025

11,099

1,546

26,725

NET BOOK VALUE

At 31 March 2025

8,099

84

12,886

At 31 March 2024

10,799

622

17,668

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

18,700

19,345

Other debtors

1,348

1,113

20,048

20,458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

119

477

Taxation and social security

4,217

2,404

Other creditors

1,740

4,057

6,076

6,938

7.	RELATED PARTY DISCLOSURES

On the 1 July 2005 the assets of the North East Fishermen's Training Association were transferred into the company by way of a loan. This loan was non repayable and was therefore transferred to reserves. The amount transferred to reserves was £119,149.

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.