|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
for |
|
M V Silver Fern Ltd. |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
for |
|
M V Silver Fern Ltd. |
M V Silver Fern Ltd. (Registered number: SC239465) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
M V Silver Fern Ltd. |
|
Company Information |
for the Year Ended 31 December 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Accountants |
Glebefield House |
21 Links Terrace |
Peterhead |
Aberdeenshire |
AB42 2XA |
M V Silver Fern Ltd. (Registered number: SC239465) |
|
Balance Sheet |
31 December 2017 |
|
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Fair value 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. |
M V Silver Fern Ltd. (Registered number: SC239465) |
|
Balance Sheet - continued |
31 December 2017 |
|
|
|
|
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 on
|
|
|
|
|
|
|
|
M V Silver Fern Ltd. (Registered number: SC239465) |
|
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
|
1. | STATUTORY INFORMATION |
|
M V Silver Fern Ltd. is a
|
number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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 fixed assets |
Intangible fixed assets, representing fishing licences and quota, acquired on incorporation are carried at a |
revalued amount being its fair value at the date of revaluation less any subsequent accumulated amortisation and |
subsequent accumulated impairment losses provided that the fair value can be determined in an active |
market.The quota is deemed to have an infinite life. |
|
Tangible fixed assets |
Depreciation is not provided for on the fishing vessel. |
|
Debtors and creditors receivable /payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative costs. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2016 - 3 ). |
M V Silver Fern Ltd. (Registered number: SC239465) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST OR VALUATION |
At 1 January 2017 |
|
Disposals | ( |
) |
Revaluations |
|
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
Cost or valuation at 31 December 2017 is represented by: |
|
Other |
intangible |
assets |
£ |
Valuation in 2017 | 545,427 |
Cost | 154,573 |
700,000 |
|
The quota was valued at fair value on 31 December 2017 by the company directors. Gains are recognised in the |
statement of other comprehensive income . Deferred taxation is provided on these gains at the rate expected to |
apply when the quota is sold. |
|
5. | TANGIBLE FIXED ASSETS |
Fishing |
vessel |
£ |
COST |
At 1 January 2017 |
|
Disposals | ( |
) |
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Other debtors |
|
|
M V Silver Fern Ltd. (Registered number: SC239465) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
|
Ordinary A | £1 | 22 | 22 |
|
Ordinary B | £1 | 12 | 12 |
|
Ordinary C | £1 | 22 | 22 |
|
Ordinary D | £1 | 8 | 8 |
64 | 64 |
|
On 15 November 2007 the existing ordinary shares in the company were reclassified into "A", "B", "C", and "D" |
ordinary shares. |