REGISTERED NUMBER: SC016725 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Scottish Pelagic Fishermen's

Association Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

3

1,542

700

Investments

4

500

500

2,042

1,200

CURRENT ASSETS

Debtors

5

109,147

88,411

Cash at bank and in hand

412,897

441,375

522,044

529,786

CREDITORS

Amounts falling due within one year

6

24,286

16,679

NET CURRENT ASSETS

497,758

513,107

TOTAL ASSETS LESS CURRENT LIABILITIES

499,800

514,307

RESERVES

Retained earnings

499,800

514,307

499,800

514,307

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

Mr R Williamson - Director

1.	ACCOUNTING POLICIES

Basis of preparation

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.

Income

Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

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.

Taxation

The company is a non profit making, non trading, entity and as such any surplus income is not subject to Corporation Tax other than interest received from bank deposits which is taxed as investment income.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 5 ).

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

39,956

19,724

59,680

Additions

-

1,791

1,791

At 31 March 2025

39,956

21,515

61,471

DEPRECIATION

At 1 April 2024

39,700

19,280

58,980

Charge for year

128

821

949

At 31 March 2025

39,828

20,101

59,929

NET BOOK VALUE

At 31 March 2025

128

1,414

1,542

At 31 March 2024

256

444

700

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

500

NET BOOK VALUE

At 31 March 2025

500

At 31 March 2024

500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

79

Other debtors

109,147

88,332

109,147

88,411

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

7

606

Trade creditors

7,198

2,481

Taxation and social security

2,018

1,831

Other creditors

15,063

11,761

24,286

16,679