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COMPANY REGISTRATION NUMBER: SC077168

UNITED FISH SELLING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 June 2025

UNITED FISH SELLING LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025

Contents | Page

Officers and professional advisers | 1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements | 2

Statement of financial position | 3

Notes to the financial statements | 5

UNITED FISH SELLING LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors | K Wood
| K Findlay
| S Shepherd
| N Robertson
| A W Addison

Company secretary | Mrs Lorna Simpson

Registered office | 26-30 Marine Place
| Buckie
| Moray
| AB56 1UT

Accountants | Ritsons
| Chartered Accountants
| 26-30 Marine Place
| Buckie
| Moray
| AB56 1UT

Solicitors | Robert McDiarmid
| Stronachs LLP
| 28 Albyn Place
| Aberdeen
| AB10 1YL

UNITED FISH SELLING LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UNITED FISH SELLING LIMITED

YEAR ENDED 30 JUNE 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of United Fish Selling Limited for the year ended 30 June 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of United Fish Selling Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of United Fish Selling Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than United Fish Selling Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that United Fish Selling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of United Fish Selling Limited. You consider that United Fish Selling Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of United Fish Selling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ritsons Chartered Accountants
26-30 Marine Place Buckie Moray AB56 1UT
5 January 2026

UNITED FISH SELLING LIMITED

STATEMENT OF FINANCIAL POSITION

30 June 2025

| 2025 | 2024
Note | £ | £

FIXED ASSETS

Tangible assets | 5 | 79,599 | 86,917
Investments | 6 | 9,635 | 9,635
| -------- | --------
| 89,234 | 96,552

CURRENT ASSETS

Stocks | 4,516 | 1,282
Debtors | 7 | 340,009 | 359,973
Cash at bank and in hand | 268,038 | 226,430
| --------- | ---------
| 612,563 | 587,685

CREDITORS: amounts falling due within one year | 8 | 472,424 | 434,855
| --------- | ---------
NET CURRENT ASSETS | 140,139 | 152,830
| --------- | ---------
TOTAL ASSETS LESS CURRENT LIABILITIES | 229,373 | 249,382

PROVISIONS

Taxation including deferred tax | 2,774 | 4,164
| --------- | ---------
NET ASSETS | 226,599 | 245,218
| --------- | ---------

CAPITAL AND RESERVES

Called up share capital | 4,750 | 4,750
Share premium account | 2,500 | 2,500
Capital redemption reserve | 6,000 | 6,000
Profit and loss account | 213,349 | 231,968
| --------- | ---------
SHAREHOLDERS FUNDS | 226,599 | 245,218
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 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 year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

UNITED FISH SELLING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 5 January 2026 , and are signed on behalf of the board by:

A W Addison
Chairman

Company registration number: SC077168

UNITED FISH SELLING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the principal place of business is 27 Commercial Road, Buckie, AB56 1UN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover in the company represents commission (net of VAT) on fish sales receivable from the vessels for which the company acts as an agent. The company also receive commission as an agent for other services carried out for the vessels such as insurance and crew recruitment.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Heritable Property | - | 5% straight line
| Computer Equipment | - | 33% straight line
| Fixtures and fittings | - | 20% straight line
| Motor Vehicles | - | 25% straight line

| Equipment | - | 15% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors and investments. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Investments in equity shares which are not publicly traded and where the fair value of the shares cannot be measured reliably are initially measured at cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).
5. Tangible assets

| Land and buildings | Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £ | £
Cost |  |  |  |  |  |
At 1 Jul 2024 and 30 Jun 2025 | 75,474 | 10,444 | 1,433 | 28,995 | 2,054 | 118,400
| -------- | -------- | ------- | -------- | ------- | ---------
Depreciation |  |  |  |  |  |
At 1 Jul 2024 | 10,474 | 10,444 | 1,433 | 7,249 | 1,883 | 31,483
Charge for the year | – | – | – | 7,249 | 69 | 7,318
| -------- | -------- | ------- | -------- | ------- | ---------
At 30 Jun 2025 | 10,474 | 10,444 | 1,433 | 14,498 | 1,952 | 38,801
| -------- | -------- | ------- | -------- | ------- | ---------
Carrying amount |  |  |  |  |  |
At 30 Jun 2025 | 65,000 | – | – | 14,497 | 102 | 79,599
| -------- | -------- | ------- | -------- | ------- | ---------
At 30 Jun 2024 | 65,000 | – | – | 21,746 | 171 | 86,917
| -------- | -------- | ------- | -------- | ------- | ---------

6. Investments

| Other investments other than loans
| £
Cost |
At 1 July 2024 and 30 June 2025 | 9,635
| -------
Impairment |
At 1 July 2024 and 30 June 2025 | –
| -------

Carrying amount |
At 30 June 2025 | 9,635
| -------
At 30 June 2024 | 9,635
| -------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 335,849 | 359,164
Other debtors | 4,160 | 809
| --------- | ---------
| 340,009 | 359,973
| --------- | ---------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 35,803 | 54,106
Trade creditors | 398,997 | 338,811
Corporation tax | – | 2,913
Social security and other taxes | 2,733 | 2,139
Other creditors | 34,891 | 36,886
| --------- | ---------
| 472,424 | 434,855
| --------- | ---------

The bank holds a bond and floating charge over the assets of the company.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 6,511 | 6,511
Later than 1 year and not later than 5 years | 4,723 | 11,275
| -------- | --------
| 11,234 | 17,786
| -------- | --------

10. Related party transactions
The directors confirm that there have been no transactions with related parties during the year except those in the normal course of business.