REGISTERED NUMBER: SC684094 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

LUNAR HARVEST FISHING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr J Buchan

Mr A Buchan

Mr J G Buchan

Mr S W Banks

Miss J Buchan

Mr A J Buchan

Mr W C Buchan

SECRETARY:

Mr A Buchan

REGISTERED OFFICE:

East Quay

Peterhead

United Kingdom

AB42 1JF

REGISTERED NUMBER:

SC684094 (Scotland)

INDEPENDENT AUDITORS:

Bain Henry Reid

Statutory Auditors

Chartered Accountants

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Intangible assets

4

4,993,793

5,813,885

Tangible assets

5

27,156,784

23,515,373

32,150,577

29,329,258

CURRENT ASSETS

Debtors

6

415,778

330,185

Cash at bank

58,371

29,318

474,149

359,503

CREDITORS

Amounts falling due within one year

7

31,669,981

28,902,273

NET CURRENT LIABILITIES

(31,195,832

)

(28,542,770

)

TOTAL ASSETS LESS CURRENT LIABILITIES

954,745

786,488

PROVISIONS FOR LIABILITIES

3,989,795

3,407,975

NET LIABILITIES

(3,035,050

)

(2,621,487

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(3,035,150

)

(2,621,587

)

SHAREHOLDERS' FUNDS

(3,035,050

)

(2,621,487

)

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 Board of Directors and authorised for issue on 14 May 2026 and were signed on its behalf by:

Mr A Buchan - Director

1.	STATUTORY INFORMATION

Lunar Harvest Fishing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 licences and quota are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, over their estimated useful life or, if held under a finance lease, over the term of the lease, whichever is the shorter. The rates applicable are:

Fishing vessels

- Over 20 years

Plant, machinery and gear

- Over 5 years

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.

Going concern

The financial statements have been prepared on a going concern basis as the company has the continuing support of Lunar Fishing Company Limited which has undertaken to ensure all liabilities are met as they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Fishing

licences

and quota

£

COST

At 1 January 2025

and 31 December 2025

8,200,915

AMORTISATION

At 1 January 2025

2,387,030

Amortisation for year

820,092

At 31 December 2025

3,207,122

NET BOOK VALUE

At 31 December 2025

4,993,793

At 31 December 2024

5,813,885

5.	TANGIBLE FIXED ASSETS

Fishing

Plant and

Motor

vessels

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

24,248,440

9,844

150,754

24,409,038

Additions

3,885,514

-

-

3,885,514

Disposals

-

-

(5,500

)

(5,500

)

At 31 December 2025

28,133,954

9,844

145,254

28,289,052

DEPRECIATION

At 1 January 2025

844,440

9,844

39,381

893,665

Charge for year

211,110

-

29,051

240,161

Eliminated on disposal

-

-

(1,558

)

(1,558

)

At 31 December 2025

1,055,550

9,844

66,874

1,132,268

NET BOOK VALUE

At 31 December 2025

27,078,404

-

78,380

27,156,784

At 31 December 2024

23,404,000

-

111,373

23,515,373

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

46,888

38,193

Amounts owed by group undertakings

252,505

252,505

Other debtors

116,385

39,487

415,778

330,185

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

189,816

120,273

Amounts owed to group undertakings

31,438,268

28,745,728

Other creditors

41,897

36,272

31,669,981

28,902,273

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Shares

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2025

(2,621,587

)

Deficit for the year

(413,563

)

At 31 December 2025

(3,035,150

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Iain Arthur FCCA (Senior Statutory Auditor)

for and on behalf of Bain Henry Reid

11.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

2,393,926

5,697,059

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Lunar Fishing Company Limited, which owns 100% of the issued share capital of Lunar Harvest Fishing Limited. Copies of its accounts can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

The directors named in the Directors Report attached to these financial statements are shareholders of Lunar Fishing Company Limited, but do not by dint of those holdings exercise a majority holding of the issued share capital or exercise majority voting rights within that company. Other close family members of the directors hold shares in Lunar Fishing Company Limited. No material interests in any customer or suppliers of Lunar Harvest Fishing Limited have been noted for those family members, or for the directors.

There is no ultimate controlling party.