Acorah Software Products - Accounts Production 16.8.200 false true true 30 December 2023 31 December 2022 false 31 December 2023 30 December 2024 30 December 2024 SC541148 Mr Klaas Van Den Berg Mr Richard Hards true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC541148 2023-12-30 SC541148 2024-12-30 SC541148 2023-12-31 2024-12-30 SC541148 frs-core:CurrentFinancialInstruments 2024-12-30 SC541148 frs-core:Non-currentFinancialInstruments 2024-12-30 SC541148 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 2024-12-30 SC541148 frs-core:NetGoodwill 2024-12-30 SC541148 frs-core:NetGoodwill 2023-12-31 2024-12-30 SC541148 frs-core:NetGoodwill 2023-12-30 SC541148 frs-core:OtherResidualIntangibleAssets 2024-12-30 SC541148 frs-core:OtherResidualIntangibleAssets 2023-12-31 2024-12-30 SC541148 frs-core:OtherResidualIntangibleAssets 2023-12-30 SC541148 frs-core:PlantMachinery 2024-12-30 SC541148 frs-core:PlantMachinery 2023-12-31 2024-12-30 SC541148 frs-core:PlantMachinery 2023-12-30 SC541148 frs-core:RevaluationReserve 2023-12-31 2024-12-30 SC541148 frs-core:RevaluationReserve 2023-12-30 SC541148 frs-core:RevaluationReserve 2024-12-30 SC541148 frs-core:ShareCapital 2024-12-30 SC541148 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 2024-12-30 SC541148 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-12-30 SC541148 frs-core:RetainedEarningsAccumulatedLosses 2024-12-30 SC541148 frs-bus:PrivateLimitedCompanyLtd 2023-12-31 2024-12-30 SC541148 frs-bus:FilletedAccounts 2023-12-31 2024-12-30 SC541148 frs-bus:SmallEntities 2023-12-31 2024-12-30 SC541148 frs-bus:AuditExempt-NoAccountantsReport 2023-12-31 2024-12-30 SC541148 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-31 2024-12-30 SC541148 1 2023-12-31 2024-12-30 SC541148 frs-bus:Director1 2023-12-31 2024-12-30 SC541148 frs-bus:CompanySecretary1 2023-12-31 2024-12-30 SC541148 frs-countries:Scotland 2023-12-31 2024-12-30 SC541148 2022-12-30 SC541148 2023-12-30 SC541148 2022-12-31 2023-12-30 SC541148 frs-core:CurrentFinancialInstruments 2023-12-30 SC541148 frs-core:Non-currentFinancialInstruments 2023-12-30 SC541148 frs-core:RevaluationReserve 2023-12-30 SC541148 frs-core:ShareCapital 2023-12-30 SC541148 frs-core:RetainedEarningsAccumulatedLosses 2023-12-30
Registered number: SC541148
Mountain Scotland Limited
Unaudited Financial Statements
For The Year Ended 30 December 2024
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC541148
2024 2023
Notes
FIXED ASSETS
Intangible Assets 4 2,560,000 2,767,000
Tangible Assets 5 3,562,879 4,027,791
6,122,879 6,794,791
CURRENT ASSETS
Debtors 6 366,531 618,703
Cash at bank and in hand - 56,003
366,531 674,706
Creditors: Amounts Falling Due Within One Year 7 (2,644,671 ) (330,017 )
NET CURRENT ASSETS (LIABILITIES) (2,278,140 ) 344,689
TOTAL ASSETS LESS CURRENT LIABILITIES 3,844,739 7,139,480
Creditors: Amounts Falling Due After More Than One Year 8 (206,648 ) (3,032,057 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (715,451 ) (853,260 )
NET ASSETS 2,922,640 3,254,163
CAPITAL AND RESERVES
Called up share capital 9 3,131,742 3,131,742
Revaluation reserve 10 84,728 332,064
Profit and Loss Account (293,830 ) (209,643 )
SHAREHOLDERS' FUNDS 2,922,640 3,254,163
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For the year ending 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Klaas Van Den Berg
Director
28/12/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mountain Scotland Limited is a private company, limited by shares, incorporated in Scotland, registered number SC541148 . The registered office is Bank House , Seaforth Street, Fraserburgh, Aberdeenshire, AB43 9BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared under the going concern basis, the validity of which is dependent upon the continued support of the parent company Zeevisserijbedrijf UK 127 BV.
The director has assessed the financial position of the company, including the level of cash held in the business and the response of the directors of the company's parent company to their enquiry concerning continued group support if required, and is of the opinion that the company will trade profitably in the forseeable future. The director has a reasonable expectation that the company will be able to continue in operational existence for at least 12 months from the signing of the financial statements.
As such the Director considers that it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are initially recognised at cost and are subsequently held at fair value.
Intangible assets comprise fishing quotas and licences. The company has chosen to apply the revaluation model to licences and quotas that it has acquired where an active market exists. Such items are initially recorded at cost, and are then carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses, provided that the fair value can be determined by reference to an active market. Such assets are assessed by the directors at each reporting date and are stated at their fair value. Therefore these intangible assets are not amortised.
This is a departure from the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 of the Companies Act 2006 which states that intangible assets must be written off over the useful economic life of the intangible asset and, if the useful economic life cannot be reliably estimated, it must not exceed ten years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fishing Vessel 6.5% - 12.5% straight line
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Fishing Licence Fishing Quota Total
Cost or Valuation
As at 31 December 2023 704,000 2,115,629 2,819,629
Revaluations (207,000 ) - (207,000 )
As at 30 December 2024 497,000 2,115,629 2,612,629
Amortisation
As at 31 December 2023 - 52,629 52,629
As at 30 December 2024 - 52,629 52,629
Net Book Value
As at 30 December 2024 497,000 2,063,000 2,560,000
As at 31 December 2023 704,000 2,063,000 2,767,000
Fishing licences and quotas are carried at fair value. The fair value is assessed by Profinis Accountants based in Urk, Netherlands on an open market value basis at each reporting date. Licences with a revalued amount of €704,000 at 30 December 2023 were revalued as at 30 December 2024 to €497,000. The valuation was based on recent market transactions on an arm’s length basis for similar licences. At 30 December 2024 the commercial valuation of the fishing quotas was assessed at €2,063,000.
If these licenses and quotas were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been €2,444,543 cost.
As the fishing licences and quotas are held at fair value no amortisation has been charged. This is a departure from the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 of the Companies Act 2006 which states that intangible assets must be written off over the useful economic life of the intangible asset and, if the useful economic life cannot be reliably estimated, it must not exceed ten years.
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5. Tangible Assets
Fishing Vessel
Cost
As at 31 December 2023 5,416,885
As at 30 December 2024 5,416,885
Depreciation
As at 31 December 2023 1,389,094
Provided during the period 464,912
As at 30 December 2024 1,854,006
Net Book Value
As at 30 December 2024 3,562,879
As at 31 December 2023 4,027,791
6. Debtors
2024 2023
Due within one year
Trade debtors 277,828 146,264
Amounts owed by group undertakings - 350,292
Other debtors 88,703 80,798
366,531 577,354
Due after more than one year
Other debtors - 41,349
366,531 618,703
7. Creditors: Amounts Falling Due Within One Year
2024 2023
Trade creditors 22,829 43,508
Bank loans and overdrafts 153,630 232,044
Amounts owed to group undertakings 2,452,592 -
Other creditors 15,620 54,465
2,644,671 330,017
The company has given a fixed charge over the fishing vessel, held within fixed assets, on the bank loan.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
Bank loans 206,648 3,032,057
The company has given a fixed charge over the fishing vessel, held within fixed assets, on the bank loan.
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9. Share Capital
2024 2023
Allotted, Called up and fully paid 3,131,742 3,131,742
10. Reserves
Revaluation reserve Profit and Loss Account
As at 31 December 2023 332,064 (209,643 )
Loss for year - (176,273)
Deficit on revaluation (155,250) -
Other comprehensive income for the year (155,250 ) -
Total comprehensive income for the year (155,250) (176,273 )
Transfer from revaluation reserve - 92,086
Transfer to/from Profit & Loss Account (92,086 ) -
As at 30 December 2024 84,728 (293,830 )
11. Related Party Transactions
During the year the company had lease income of fishing quota from other related parties of €41,024 (2023 - €20,880). Amounts due from related parties at the reporting end date was €175,128 (2023 - €134,104).
Other related parties are a fellow group subsidiary.
The company has applied the exemption not to disclose transactions with other parties that are wholly owned within the group.
12. Ultimate Parent Undertaking and Controlling Party
The immediate parent company is Zeevisserijbedrijf UK 127 BV who owns 100% of the share capital and has ultimate voting rights of Mountain Scotland Limited.
The ultimate controlling party is K.W. van den Berg Beheer BV, a company registered in the Netherlands. 
The company's results are consolidated in the accounts of K.W. van den Berg Beheer BV, a company registered in the Netherlands, which is the smallest and largest group for which consolidated accounts including Mountain Scotland Limited are prepared. The consolidated financial statements can be acquired from the registered office at 8321 LT URK, Netherlands.
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