REGISTERED NUMBER: SC490226 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Exodus Fishing Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J K Meadows

REGISTERED OFFICE:

27 Finlayson street

Fraserburgh

Aberdeenshire

AB43 9JQ

REGISTERED NUMBER:

SC490226 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Intangible assets

4

500

1,000

Tangible assets

5

36,810

38,377

37,310

39,377

CURRENT ASSETS

Debtors

6

37,139

20,534

CREDITORS

Amounts falling due within one year

7

34,296

24,470

NET CURRENT ASSETS/(LIABILITIES)

2,843

(3,936

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,153

35,441

PROVISIONS FOR LIABILITIES

5,139

5,029

NET ASSETS

35,014

30,412

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

34,994

30,392

SHAREHOLDERS' FUNDS

35,014

30,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 director and authorised for issue on 14 May 2026 and were signed by:

Mr J K Meadows - Director

1.	STATUTORY INFORMATION

Exodus Fishing 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 represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. 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. All income is recognised in the accounting period to which it relates.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Fishing licence are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Fishing vessel

-

5% on cost

Gear

-

33% on cost

Motor vehicles

-

25% on reducing balance

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

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Fishing

licence

£

COST

At 1 September 2024

and 31 August 2025

5,000

AMORTISATION

At 1 September 2024

4,000

Amortisation for year

500

At 31 August 2025

4,500

NET BOOK VALUE

At 31 August 2025

500

At 31 August 2024

1,000

5.	TANGIBLE FIXED ASSETS

Fishing

Motor

Computer

vessel

Gear

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2024

49,221

3,029

13,895

491

66,636

Additions

-

-

5,500

-

5,500

At 31 August 2025

49,221

3,029

19,395

491

72,136

DEPRECIATION

At 1 September 2024

23,768

3,029

971

491

28,259

Charge for year

2,461

-

4,606

-

7,067

At 31 August 2025

26,229

3,029

5,577

491

35,326

NET BOOK VALUE

At 31 August 2025

22,992

-

13,818

-

36,810

At 31 August 2024

25,453

-

12,924

-

38,377

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Other debtors

33,363

18,030

VAT

3,415

2,310

Prepayments

361

194

37,139

20,534

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade creditors

4,447

-

Tax

27,507

22,532

Directors' current accounts

3

3

Accrued expenses

2,339

1,935

34,296

24,470

8.	RELATED PARTY DISCLOSURES

The director, Mr J.Meadows, operates as a crew share fisherman on the fishing vessel operated by the company and crew earnings totalling £62,754 was paid to him during the course of the year for crew services provided in a self employment capacity.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J K Meadows.