Company No: SC428291 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	7,089		9,849
Investments	4	270,361		178,039
		277,450		187,888
Current assets
Debtors	5	1,066		792
Cash at bank and in hand		90,921		143,835
		91,987		144,627
Creditors: amounts falling due within one year	6	( 67,461)		( 30,590)
Net current assets		24,526		114,037
Total assets less current liabilities		301,976		301,925
Provision for liabilities		( 12,353)		( 14,853)
Net assets		289,623		287,072
Capital and reserves
Called-up share capital	7	1,100		1,100
Profit and loss account		288,523		285,972
Total shareholders' funds		289,623		287,072

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of ARP Fishing Limited (registered number: SC428291) were approved and authorised for issue by the Board of Directors on 22 April 2024. They were signed on its behalf by:

George West Pirie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ARP Fishing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Fraserburgh Business Centre, South Harbour Road, Fraserburgh, AB43 9TN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of labour services and is recognised when the service is provided, on an accruals basis.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Computer equipment		Total
	£		£		£
Cost
At 01 August 2022	12,511		1,036		13,547
At 31 July 2023	12,511		1,036		13,547
Accumulated depreciation
At 01 August 2022	3,274		424		3,698
Charge for the financial year	2,502		258		2,760
At 31 July 2023	5,776		682		6,458
Net book value
At 31 July 2023	6,735		354		7,089
At 31 July 2022	9,237		612		9,849

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 August 2022	178,039		178,039
Additions	100,000		100,000
Share of limited liability partnership profit	17,229		17,229
Drawings	(24,907)		(24,907)
At 31 July 2023	270,361		270,361
Carrying value at 31 July 2023	270,361		270,361
Carrying value at 31 July 2022	178,039		178,039

5. Debtors

	2023		2022
	£		£
Other debtors	1,066		792

6. Creditors: amounts falling due within one year

	2023		2022
	£		£
Corporation tax	27,208		22,856
Other taxation and social security	0		338
Other creditors	40,253		7,396
	67,461		30,590

7. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 B Ordinary shares of £ 1.00 each	100		100
1,000 A Ordinary shares of £ 1.00 each	1,000		1,000
	1,100		1,100