REGISTERED NUMBER: SC501936 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

J W Fishing Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J S Willox Jnr

Mrs D M Willox

REGISTERED OFFICE:

Wydeford House

Lendrum Terrace

Boddam

Peterhead

Aberdeenshire

AB42 3BB

REGISTERED NUMBER:

SC501936 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

105,946

306

CURRENT ASSETS

Debtors

5

11,666

16,607

Cash at bank

6,410

6,479

18,076

23,086

CREDITORS

Amounts falling due within one year

6

24,601

19,292

NET CURRENT (LIABILITIES)/ASSETS

(6,525

)

3,794

TOTAL ASSETS LESS CURRENT LIABILITIES

99,421

4,100

CREDITORS

Amounts falling due after more than one year

7

(1,687

)

(3,937

)

PROVISIONS FOR LIABILITIES

(21,497

)

(58

)

NET ASSETS

76,237

105

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

74,001

-

Retained earnings

8

2,136

5

SHAREHOLDERS' FUNDS

76,237

105

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 profit or loss 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 5 November 2025 and were signed on its behalf by:

Mr J S Willox Jnr - Director

1.	STATUTORY INFORMATION

J W Fishing Services Ltd is a private company, limited by shares , 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fishing vessel

-

6% on cost

Marine equipment

-

20% 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.

Assets transferred to the company have been revalued to their fair value at the date of transfer and then depreciated.

Taxation

Taxation for the year comprises current and deferred 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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fishing

Marine

Motor

Computer

vessel

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

-

-

-

899

899

Additions

20,464

199

1,501

-

22,164

Revaluations

76,036

9,461

8,499

-

93,996

At 31 March 2025

96,500

9,660

10,000

899

117,059

DEPRECIATION

At 1 April 2024

-

-

-

593

593

Charge for year

5,791

1,932

2,500

297

10,520

At 31 March 2025

5,791

1,932

2,500

890

11,113

NET BOOK VALUE

At 31 March 2025

90,709

7,728

7,500

9

105,946

At 31 March 2024

-

-

-

306

306

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

4,285

-

Other debtors

7,381

16,607

11,666

16,607

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

2,250

2,250

Trade creditors

1,054

1,213

Taxation and social security

19,500

14,535

Other creditors

1,797

1,294

24,601

19,292

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,687

3,937

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

5

-

5

Profit for the year

116,232

116,232

Dividends

(40,100

)

(40,100

)

Fair value reserve

(74,001

)

74,001

-

At 31 March 2025

2,136

74,001

76,137

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr J S Willox Jnr

Balance outstanding at start of year

10,090

8,638

Amounts advanced

28,751

45,348

Amounts repaid

(38,869

)

(43,896

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(28

)

10,090

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J S Willox Jnr.