Company No: SC097149 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	32,704		88,108
Investments	5	1,296,793		1,329,151
		1,329,497		1,417,259
Current assets
Debtors	6	1,124		10,379
Cash at bank and in hand		268,686		132,877
		269,810		143,256
Creditors: amounts falling due within one year	7	( 258,699)		( 249,972)
Net current assets/(liabilities)		11,111		(106,716)
Total assets less current liabilities		1,340,608		1,310,543
Provision for liabilities		( 41,257)		( 52,632)
Net assets		1,299,351		1,257,911
Capital and reserves
Called-up share capital	8	1,000		1,000
Revaluation reserve		22,731		22,731
Profit and loss account		1,275,620		1,234,180
Total shareholders' funds		1,299,351		1,257,911

For the financial year ending 31 March 2025 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 financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of G.K. Fishing Limited (registered number: SC097149) were approved and authorised for issue by the Board of Directors on 21 November 2025. They were signed on its behalf by:

Douglas Pirie Director

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

G.K. Fishing Limited (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 The Gables, West End, Whitehills, AB45 2NL, United Kingdom.

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 items at fair value, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at point of invoice.

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.

Intangible assets

Intangible assets are stated at cost , net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Trademarks, patents and licences

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 % reducing balance
Plant and machinery	5 years straight line
Vehicles	25 % reducing balance

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.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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 and intangible 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).

Financial 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 an impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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 and cash and bank balances are measured at transaction price.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 April 2024	291,583		291,583
At 31 March 2025	291,583		291,583
Accumulated amortisation
At 01 April 2024	291,583		291,583
At 31 March 2025	291,583		291,583
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2024	28,232		20,635		84,430		133,297
Disposals	0		( 9,458)		( 72,429)		( 81,887)
At 31 March 2025	28,232		11,177		12,001		51,410
Accumulated depreciation
At 01 April 2024	1,287		19,980		23,922		45,189
Charge for the financial year	755		295		3,389		4,439
Disposals	0		( 9,283)		( 21,639)		( 30,922)
At 31 March 2025	2,042		10,992		5,672		18,706
Net book value
At 31 March 2025	26,190		185		6,329		32,704
At 31 March 2024	26,945		655		60,508		88,108

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	1,329,151		1,329,151
Share of partnership loss	( 19,761)		( 19,761)
Drawings	(13,212)		(13,212)
Capital intorduced	615		615
At 31 March 2025	1,296,793		1,296,793
Carrying value at 31 March 2025	1,296,793		1,296,793
Carrying value at 31 March 2024	1,329,151		1,329,151

6. Debtors

	2025		2024
	£		£
Trade debtors	72		72
Other debtors	1,052		10,307
	1,124		10,379

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	3,646		265
Taxation and social security	19,759		14,365
Other creditors	235,294		235,342
	258,699		249,972

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed to directors	231,994		232,756

This above loan is interest free and has no set repayment terms.