Johnston Fishing Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC236083 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 5 April 2016

for

Johnston Fishing Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

6

DIRECTORS:

R Johnston

Mrs J Johnston

SECRETARY:

Melantic Limited

REGISTERED OFFICE:

16 Castle Street

BANFF

AB45 1DL

REGISTERED NUMBER:

SC236083 (Scotland)

ACCOUNTANTS:

Atholl Scott

16 Castle Street

BANFF

AB45 1DL

FIXED ASSETS

Tangible assets

2

224

334

Investments

3

753,422

808,977

753,646

809,311

CURRENT ASSETS

Debtors

609

594

Cash at bank

4,093

36,775

4,702

37,369

CREDITORS

Amounts falling due within one
year

4

(116,143

)

(157,044

)

NET CURRENT LIABILITIES

(111,441

)

(119,675

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

642,205

689,636

CREDITORS

Amounts falling due after more
than one year

4

-

(56,110

)

NET ASSETS

642,205

633,526

CAPITAL AND RESERVES

Called up share capital

5

100

Revaluation reserve

123,419

Profit and loss account

518,686

510,007

SHAREHOLDERS' FUNDS

642,205

633,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on
1 December 2016 and were signed on its behalf by:

R Johnston - Director

Mrs J Johnston - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost

convention and in accordance with the Financial Reporting Standard for

Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Johnston Fishing Limited

as an individual company and do not contain consolidated financial

information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Turnover represents amounts receivable for goods and services supplied

during the year, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Deferred tax

The payment of taxation is deferred or accelerated because of timing

differences between the treatment of certain items for accounting and

taxation purposes. Deferred tax assets are recognised only to the extent

that they will be recovered against the reversal of deferred tax

liabilities or other future taxable profits. Full provision for deferred

taxation is made under the liability method, without discounting, on all

timing differences that have arisen, but not reversed by the balance sheet

date, unless such provision is not permitted by accounting standards.

In accordance with such standards deferred tax is not provided for:

a) revaluation gains on land and buildings, unless there is a binding

agreement to sell them at the balance sheet date; and

b) gains on the sale of non-monetary assets, if the taxable gain will

probably be rolled over.

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 the profit and loss

account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 6 April 2015

and 5 April 2016

2,666

DEPRECIATION

At 6 April 2015

2,332

Charge for year

110

At 5 April 2016

2,442

NET BOOK VALUE

At 5 April 2016

224

At 5 April 2015

334

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 6 April 2015

808,977

Additions

35,942

Disposals

(91,497

)

At 5 April 2016

753,422

NET BOOK VALUE

At 5 April 2016

753,422

At 5 April 2015

808,977

Holdings requiring disclosure as value exceeds 20% of the assets of the

Investing Company

Vessel

Place of
Business

Nature of
Business

Proportion of
Vessel

MB Amethyst

Fraserburgh

Fishing

44/64th Share

Shares in participating interests represents a 44/64th share in the

partnership MB Amethyst, an unincorporated business carried out in

Scotland.

4.

CREDITORS

Creditors include an amount of £ 0 (5.4.15 - £ 86,110 ) for which security

has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

5.4.16

5.4.15

value:

£

100

Ordinary

1

100

The following reproduces the text of the report prepared for the directors in

respect of the company's annual unaudited financial statements, from which the

unaudited abbreviated accounts (set out on pages two to five) have been

prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 5 April 2016 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

This report is made solely to the Board of Directors of the company, as a body,

in accordance with the terms of our engagement. Our work has been undertaken

solely to prepare for your approval the financial statements of the company and

state those matters that we have agreed to state to the Board of Directors of

the company, as a body, in this report in accordance with the requirements of

the Institute of Financial Accountants. To the fullest extent permitted by law,

we do not accept or assume responsibility to anyone other than the company and

its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records

and to prepare statutory accounts that give a true and fair view of the assets,

liabilities and financial position of the company. You consider that the company

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 the company. 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.

Atholl Scott

16 Castle Street

BANFF

AB45 1DL

6 December 2016