For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Craigellachie Fishings Limited is a private company limited by shares incorporated in Scotland. The registered office is 13 Queens Road, Aberdeen, Scotland, AB15 4YL.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Revenue recognition

Revenue represents an annual maintenance charge levied on members. Expenses incurred during the year are set off against the charge. Any surplus is carried forward to be off set against expenses in the following years and any deficit carried forward to be recovered from members in the following years. The annual maintenance charge is adjusted in line with anticipated level of expenditure.

The average monthly number of persons (including directors) employed by the company during the year was:

Included in Land and Buildings is £969,128 of Pro Indiviso Rights in Craigellachie Water. The Pro Indiviso Rights in Craigellachie Water represents the land and fishing rights owed by the company. No depreciation is provided in respect of these rights as they are considered to have infinite lives. It is the company's policy to maintain these assets to such a standard that no significant diminution in value should occur.

In accordance with the company's Articles all "retained earnings" are prohibited from distribution other than on a winding up of the company.

a)

With the climate change, storms and floods are likely to be of greater frequency and severity. So the risk of large one off payments for bank reinstatement, damage to huts and plants is rising. It is prudent to have a reserve for this, and the Directors, having considered that the last damage rectification cost just under £34,000 approximately seven years ago have transferred £43,750 from the retained earnings account to cover an "Environmental and River Bank Rectification Reserve".

b)

The final £20,848 that would currently stand within retained earnings has been transferred to accruals for the provision of a new hut.

The directors of the company are also members of the company and as such are charged annual maintenance charges and receive similar rights and services from the company as other members.

At the Company's Annual General Meeting held on 13th November 2018 new Articles of Association of the Company were adopted and the following amendment regarding Share Capital rights, privileges and respective restrictions and limitations was implemented by the approval of a Resolution "that the Articles of Association of the Company be amended as follows:

by deleting the present Article 3 and by adopting new Article 3 in the following terms:

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(a) The share capital of the Company is divided into "A" Ordinary Shares of £1 each (hereinafter referred to as "the "A" Ordinary Shares") and Ordinary Non Participating Shares of £1 each (hereinafter referred to as the "the Non Participating Shares") carrying the respective rights and privileges and subject to the respective restrictions and limitations hereinafter set out videlicet:-

As regards income

The Directors of the Company are not empowered to dispose of any class of share unless a Special Resolution (as defined by Section 378 of the Act) to that effect has been passed at a meeting of the holders of the "A" Ordinary Shares.

Clauses 114-122 and Clauses 128-129 of Table A shall not apply to the Company.

No distribution of profits shall be paid by dividend, bonus or otherwise made by the Company (other than as defined in Article 3 (b)).

As regards capital

Clause 135 of Table A shall not apply to the Company.

(b) On a dissolution, winding up, a return of capital or a reduction of capital of the

Company, all shares in the capital of the Company shall rank pari passu to the extent of the amount paid up and on a winding up any surplus assets shall be distributed amongst the holders of the "A" Ordinary Shares in proportion to the number of "A" Ordinary Shares respectively held by them.

As regards voting

The Non-Participating Shares shall entitle the holders to receive notice of and attend all General Meetings of the members of the Company, but shall not entitle the holders by virtue of their holdings thereof to vote at any such meeting.

(c) The lien conferred by Clause 11 in Table A shall attach also to fully paid up shares and

the Company shall also have a first and paramount lien on all shares, whether fully paid or not, standing registered in the name of any person indebted or under liability to the Company, whether he shall be the sole registered holder thereof or shall be one of two or more joint holders, for all moneys presently payable by him or his estate to the Company. Clause 11 in Table A shall be modified accordingly."