Company No: SC474872 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	378,000		567,000
Tangible assets	4	400,978		416,230
		778,978		983,230
Current assets
Debtors	5	39,414		35,981
Cash at bank and in hand		3,133		7,954
		42,547		43,935
Creditors: amounts falling due within one year	6	( 622,624)		( 763,753)
Net current liabilities		(580,077)		(719,818)
Total assets less current liabilities		198,901		263,412
Provision for liabilities	7	( 84,689)		( 71,260)
Net assets		114,212		192,152
Capital and reserves
Called-up share capital	8	8		8
Profit and loss account		114,204		192,144
Total shareholders' funds		114,212		192,152

For the financial year ending 05 April 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 M.B. Prosperity Limited (registered number: SC474872) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

Bruce Mclean 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

M.B. Prosperity 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 Braighe Lonemore, Strath, Gairloch, IV21 2DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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

At the financial year end the company had net current liabilities of £580,077. This net current liability position has arisen from supporting finance provided by the directors and shareholders in relation to the boat, licence and quota purchases in the 2023 financial year, these are included in other creditors and total £572,724 at the balance sheet date. As is common practice in the industry in which the company operates, it is reasonable to assume this funding will continue to be provided by those parties to allow the company 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, it is deemed appropriate to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the sale of fish and related products. This is recognised at the point of settling.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

Trademarks, patents and licences

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Other property, plant and equipment	16 years straight line

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.

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include 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 bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially 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. If not, they are presented as non-current liabilities.

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	4		4

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 06 April 2024	945,000		945,000
At 05 April 2025	945,000		945,000
Accumulated amortisation
At 06 April 2024	378,000		378,000
Charge for the financial year	189,000		189,000
At 05 April 2025	567,000		567,000
Net book value
At 05 April 2025	378,000		378,000
At 05 April 2024	567,000		567,000

4. Tangible assets

	Plant and machinery		Vehicles		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 06 April 2024	4,500		26,530		466,219		497,249
Additions	14,210		2,500		0		16,710
At 05 April 2025	18,710		29,030		466,219		513,959
Accumulated depreciation
At 06 April 2024	2,391		21,029		57,599		81,019
Charge for the financial year	823		2,000		29,139		31,962
At 05 April 2025	3,214		23,029		86,738		112,981
Net book value
At 05 April 2025	15,496		6,001		379,481		400,978
At 05 April 2024	2,109		5,501		408,620		416,230

5. Debtors

	2025		2024
	£		£
Trade debtors	2,628		2,628
Amounts owed by related parties	27,145		27,145
Other debtors	9,641		6,208
	39,414		35,981

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	11,838		9,361
Other taxation and social security	312		375
Other creditors	610,474		754,017
	622,624		763,753

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	84,689		71,260

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
3 A ordinary shares of £ 1.00 each	3		3
2 B ordinary shares of £ 1.00 each	2		2
2 C ordinary shares of £ 1.00 each	2		2
1 D ordinary share of £ 1.00	1		1
	8		8

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due to directors	(82,994)		(82,994)
Amounts due by director	725		51

These loans are interest free and have no set repayment terms.

During the year, advances were made to a director of £725 and a repayment of £51 was received. There were no fixed terms of repayment and no interest was charged.

Other related party transactions

	2025		2024
	£		£
Amount owed by a company where the directors are also directors	27,145		27,145

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