Bow Fiddle Fishing Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC179910

BOW FIDDLE FISHING COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

BOW FIDDLE FISHING COMPANY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

BOW FIDDLE FISHING COMPANY LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	F Smith
	C Smith
	S Taylor

Company secretary	Mrs C McGregor

Registered office	26-30 Marine Place
	Buckie
	Moray
	AB56 1UT

Accountants	Ritsons
	Chartered Accountants
	26-30 Marine Place
	Buckie
	Moray
	AB56 1UT

BOW FIDDLE FISHING COMPANY LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BOW FIDDLE FISHING COMPANY LIMITED

YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bow Fiddle Fishing Company Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Bow Fiddle Fishing Company Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Bow Fiddle Fishing Company Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bow Fiddle Fishing Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bow Fiddle Fishing Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bow Fiddle Fishing Company Limited. You consider that Bow Fiddle Fishing Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Bow Fiddle Fishing Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ritsons Chartered Accountants

26-30 Marine Place Buckie Moray AB56 1UT

19 September 2025

BOW FIDDLE FISHING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024	2023
Note	£	£

FIXED ASSETS

Intangible assets	4	18,465	20,170
Tangible assets	5	1,177,178	1,286,031
		------------	------------
		1,195,643	1,306,201

CURRENT ASSETS

Debtors	6	28,770	22,667
Cash at bank and in hand		33,684	37,243
		--------	--------
		62,454	59,910

CREDITORS: amounts falling due within one year	7	202,677	181,273
		---------	---------
NET CURRENT LIABILITIES		140,223	121,363
		------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,055,420	1,184,838

CREDITORS: amounts falling due after more than one year	8	812,752	848,047
		------------	------------
NET ASSETS		242,668	336,791
		------------	------------

CAPITAL AND RESERVES

Called up share capital	374,848	374,848
Share premium account	45,192	45,192
Profit and loss account	( 177,372)	( 83,249)
	---------	---------
SHAREHOLDERS FUNDS	242,668	336,791
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BOW FIDDLE FISHING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

S Taylor

Director

Company registration number: SC179910

BOW FIDDLE FISHING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26-30 Marine Place, Buckie, Moray, AB56 1UT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

The turnover shown in the detailed income statement represents amounts invoiced during the year. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Licence	-	6.67% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fishing vessel & gear	-	5% straight line
Motor vehicles	-	20% straight line
Equipment	-	20% straight line

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement on a straight line basis.

Deferred government grants

Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the income statement over the estimated useful life of the assets to which they relate.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Intangible assets

	Licence
	£
Cost
At 1 January 2024 and 31 December 2024	431,722
	---------
Amortisation
At 1 January 2024	411,551
Charge for the year	1,706
	---------
At 31 December 2024	413,257
	---------
Carrying amount
At 31 December 2024	18,465
	---------
At 31 December 2023	20,171
	---------

5. Tangible assets

	Fishing vessel & gear	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	1,463,284	49,000	94,353	1,606,637
	------------	--------	--------	------------
Depreciation
At 1 January 2024	244,878	19,600	56,128	320,606
Charge for the year	81,677	9,800	17,376	108,853
	------------	--------	--------	------------
At 31 December 2024	326,555	29,400	73,504	429,459
	------------	--------	--------	------------
Carrying amount
At 31 December 2024	1,136,729	19,600	20,849	1,177,178
	------------	--------	--------	------------
At 31 December 2023	1,218,406	29,400	38,225	1,286,031
	------------	--------	--------	------------

6. Debtors

	2024	2023
	£	£
Trade debtors	26,048	19,586
Other debtors	2,722	3,081
	--------	--------
	28,770	22,667
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	116,717	116,717
Trade creditors	37,529	48,788
Other creditors	48,431	15,768
	---------	---------
	202,677	181,273
	---------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	772,472	796,087
Other creditors	40,280	51,960
	---------	---------
	812,752	848,047
	---------	---------

9. Related party transactions

The company was under the control of Mr F Smith throughout the current and previous year. Mr F Smith is the managing director and a significant shareholder of the company. The major shareholder is Denholm Fishselling Limited.