REGISTERED NUMBER: SC130588 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

GRANITE CITY FISH LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTOR:

Mr E A Fletcher

SECRETARY:

Mrs A M Routledge

REGISTERED OFFICE:

74 Deemount Gardens

ABERDEEN

AB11 7UE

REGISTERED NUMBER:

SC130588 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

SOLICITORS:

Gray and Connachie

6 Alford Place

ABERDEEN

AB10 1YD

FIXED ASSETS

Tangible assets

4

30,895

37,770

Investments

5

36,288

33,140

67,183

70,910

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

81,027

126,286

Cash at bank and in hand

243,651

251,016

326,678

379,302

CREDITORS

Amounts falling due within one year

7

106,456

107,674

NET CURRENT ASSETS

220,222

271,628

TOTAL ASSETS LESS CURRENT LIABILITIES

287,405

342,538

CREDITORS

Amounts falling due after more than one year

8

(1,345

)

(5,354

)

PROVISIONS FOR LIABILITIES

(8,162

)

(10,177

)

NET ASSETS

277,898

327,007

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

9

1,314

2,202

Retained earnings

275,584

323,805

SHAREHOLDERS' FUNDS

277,898

327,007

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2026 and were signed by:

Mr E A Fletcher - Director

1.	STATUTORY INFORMATION

Granite City Fish Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods.

Sale of goods

Turnover from the sale of goods is recognised when the goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

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.

Fixed asset investments

Investments in shares are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

183,429

Additions

2,052

At 31 May 2025

185,481

DEPRECIATION

At 1 June 2024

145,659

Charge for year

8,927

At 31 May 2025

154,586

NET BOOK VALUE

At 31 May 2025

30,895

At 31 May 2024

37,770

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2024

33,140

Additions

4,332

Revaluations

(1,184

)

At 31 May 2025

36,288

NET BOOK VALUE

At 31 May 2025

36,288

At 31 May 2024

33,140

Cost or valuation at 31 May 2025 is represented by:

Other

investments

£

Valuation in 2016

10,002

Valuation in 2017

1,082

Valuation in 2018

447

Valuation in 2019

(6,634

)

Valuation in 2020

(513

)

Valuation in 2021

218

Valuation in 2022

(1,679

)

Valuation in 2023

(1,959

)

Valuation in 2024

1,972

Valuation in 2025

(1,184

)

Cost

34,536

36,288

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

34,536

26,401

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

20,415

56,840

Other debtors

60,612

69,446

81,027

126,286

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,000

4,000

Trade creditors

42,638

69,417

Taxation and social security

42,155

14,523

Other creditors

17,663

19,734

106,456

107,674

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,345

5,354

9.

RESERVES

Fair

value

reserve

£

At 1 June 2024

2,202

Revaluations

(888

)

At 31 May 2025

1,314

Fair Value Reserve

This reserve reflects cumulative revaluations of fixed asset investments (less provision for deferred tax).

These gains or losses are non-distributable.

10.	OTHER FINANCIAL COMMITMENTS

Amounts outstanding at the year end relating to the defined contribution pension scheme totalled £1,918 (2024: £1,378) which are included within other creditors.

Operating Leases

At the year end the company had obligations under non-cancellable operating leases totalling £12,495 (2024: £14,577).

Non-cancellable operating leases relate to a land lease agreement which expires in 2031.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

£

£

Mr E A Fletcher

Balance outstanding at start of year

14,916

14,988

Amounts advanced

14,784

14,916

Amounts repaid

(14,916

)

(14,988

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,784

14,916

The loan has no set repayment terms and no interest is chargeable. The loan was repaid in full within 9 months.

12.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Granite City Fish Limited for the year ended 31 May 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Granite City Fish Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Granite City Fish Limited and state those matters that we have agreed to state to the director of Granite City Fish Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Granite City Fish 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 profit of Granite City Fish Limited. You consider that Granite City Fish 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 Granite City Fish 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.

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

29 May 2026