| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 |
| FOR |
| SHAULORA FISHING COMPANY LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 |
| FOR |
| SHAULORA FISHING COMPANY LIMITED |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SHAULORA FISHING COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| BALANCE SHEET |
| 30 JUNE 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| BALANCE SHEET - continued |
| 30 JUNE 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 1. | STATUTORY INFORMATION |
| Shaulora Fishing Company Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound. |
| Going Concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities. |
| Turnover |
| Turnover represents amounts receivable for the sale of fish and related products. This is recognised at point of settling and excludes value added tax. |
| 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. |
| Tangible fixed assets |
| Fishing vessel | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Investments in subsidiaries and associates |
| Investments in subsidiary and associate undertakings are recognised at cost. |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Investments |
| The company has a participating interest in a partnership, which is an associated undertaking. The financial statements include the company's share of partnership profits or losses to the last accounting date of the partnership. All drawings from the limited liability partnership are included in the financial statements. |
| Government grants |
| Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 5. | INTANGIBLE FIXED ASSETS |
| Fishing |
| licences |
| and quota |
| £ |
| COST |
| At 1 July 2024 |
| and 30 June 2025 |
| AMORTISATION |
| At 1 July 2024 |
| and 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Fishing | Plant and | Motor |
| vessel | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2024 |
| Additions |
| At 30 June 2025 |
| DEPRECIATION |
| At 1 July 2024 |
| Charge for year |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 July 2024 |
| Additions |
| Transfer to ownership | (23,255 | ) |
| At 30 June 2025 |
| DEPRECIATION |
| At 1 July 2024 |
| Transfer to ownership | (15,889 | ) |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| 7. | FIXED ASSET INVESTMENTS |
| Share in |
| Shares in | limited |
| group | liability | Other |
| undertakings | partnership | investments | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2024 | 708,065 | 713,266 |
| Additions | 10,000 | 10,000 |
| Disposals | (135,308 | ) | (135,308 | ) |
| Share of profit/(loss) | - | 221,691 | - | 221,691 |
| At 30 June 2025 | 804,448 | 809,649 |
| NET BOOK VALUE |
| At 30 June 2025 | 804,448 | 809,649 |
| At 30 June 2024 | 708,065 | 713,266 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 234,663 | 275,705 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| Hire purchase contracts | 90,055 | - |
| The bank holds a bond and floating charge over the business assets. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by the directors. |