REGISTERED NUMBER: SC501309 (Scotland)

Abridged Unaudited Financial Statements for the Year Ended 31 March 2025

for

Dolan Fisheries Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J P Dolan

REGISTERED OFFICE:

Ard Achaidli

Highfield Park

Conon Bridge

Dingwall

Ross-Shire

IV7 8AP

REGISTERED NUMBER:

SC501309 (Scotland)

ACCOUNTANTS:

Stewart & Stewart Ltd

Chartered Accountants

Achorn House

34 Millbank Road

Munlochy

Ross-Shire

IV8 8ND

FIXED ASSETS

Intangible assets

4

17,826

24,744

Tangible assets

5

318,020

378,027

335,846

402,771

CURRENT ASSETS

Stocks

7,500

4,369

Debtors

146,644

101,087

Cash at bank

28,686

28,599

182,830

134,055

CREDITORS

Amounts falling due within one year

104,944

72,903

NET CURRENT ASSETS

77,886

61,152

TOTAL ASSETS LESS CURRENT LIABILITIES

413,732

463,923

CREDITORS

Amounts falling due after more than one year

6

(160,099

)

(191,575

)

PROVISIONS FOR LIABILITIES

(68,544

)

(93,767

)

NET ASSETS

185,089

178,581

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

184,989

178,481

SHAREHOLDERS' FUNDS

185,089

178,581

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 director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2025 and were signed by:

M J P Dolan - Director

1.	STATUTORY INFORMATION

Dolan Fisheries 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Fishing license

Amortisation is provided for on fishing licenses in order to write off the asset over the estimated useful life of 10 years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Boat and gear

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary 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.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

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 and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, 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 and 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

69,180

AMORTISATION

At 1 April 2024

44,436

Amortisation for year

6,918

At 31 March 2025

51,354

NET BOOK VALUE

At 31 March 2025

17,826

At 31 March 2024

24,744

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

619,579

Additions

55,201

Disposals

(106,948

)

At 31 March 2025

567,832

DEPRECIATION

At 1 April 2024

241,552

Charge for year

50,575

Eliminated on disposal

(42,315

)

At 31 March 2025

249,812

NET BOOK VALUE

At 31 March 2025

318,020

At 31 March 2024

378,027

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.25

31.3.24

£

£

Repayable by instalments

Bank loans more 5 yr by instal

57,664

86,235

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

160,456

177,053

Hire purchase contracts

33,573

41,296

194,029

218,349

Hire purchase debts are secured on the asset to which the liability relates. The Royal Bank of Scotland holds a floating charge over all the property or undertaking of the company and a fixed charge over its fishing vessel.

8.	DIRECTOR'S 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

£

£

M J P Dolan

Balance outstanding at start of year

62,882

33,112

Amounts advanced

261,009

69,012

Amounts repaid

(200,598

)

(39,242

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

123,293

62,882

This loan is unsecured and has no fixed terms for repayment. Interest has been charged on this loan at 2.25%.