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REGISTERED NUMBER: SC042610 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

THE LOCH CLASH FISH COMPANY LIMITED

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3 to 5


THE LOCH CLASH FISH COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTOR: Mr D W Ross





REGISTERED OFFICE: The Braes
Badcall Inchard
Rhiconich
Sutherland
IV27 4RQ





REGISTERED NUMBER: SC042610 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

ABRIDGED BALANCE SHEET
31 MARCH 2018

2018 2017
Notes £    £   
FIXED ASSETS
Tangible assets 4 41,467 28,642
Investments 5 192,124 221,709
233,591 250,351

CURRENT ASSETS
Debtors 176,196 212,255
Cash at bank and in hand 246,761 499,752
422,957 712,007
CREDITORS
Amounts falling due within one year (306,850 ) (600,934 )
NET CURRENT ASSETS 116,107 111,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

349,698

361,424

PROVISIONS FOR LIABILITIES 6 (5,827 ) (7,607 )
NET ASSETS 343,871 353,817

CAPITAL AND RESERVES
Called up share capital 7 120 120
Share redemption reserve 8 880 880
Retained earnings 8 342,871 352,817
SHAREHOLDERS' FUNDS 343,871 353,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 8 November 2018 and were signed by:



Mr D W Ross - Director


THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

The Loch Clash Fish Company 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers
during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Over the remaining term of the lease
Plant and machinery etc - 25% on reducing balance and 15% straight line to 25% residual value

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 taxation
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.

Investments
Investments in shares are included at fair value.

Interest in fishing vessel partnership
The cost and depreciation thereon of the company's 25% interest in the fixed asset of a fishing vessel partnership are included
in the tangible fixed assets. The company's share of the partnership profit shown in the partnership accounts to 31 March is
included in the operating profit or loss. The corresponding amount is included in debtors and cash is withdrawn from the
partnership when appropriate.

Pensions
The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the
company in independently administered funds. The amount charged against profits represents the contributions payable to
the schemes in respect of the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2017 166,442
Additions 20,847
At 31 March 2018 187,289
DEPRECIATION
At 1 April 2017 137,800
Charge for year 8,022
At 31 March 2018 145,822
NET BOOK VALUE
At 31 March 2018 41,467
At 31 March 2017 28,642

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£
COST OR VALUATION
At 1 April 2017 221,709
Additions 4,150
Expenses incurred incl. VAT (2,969 )
Gains on sale 4,736
Withdrawn in year (28,081 )
Fair value adjustment (7,421 )
At 31 March 2018 192,124

NET BOOK VALUE
At 31 March 2018 192,124
At 31 March 2017 221,709



The historic cost of investments was £200,000 (2017: £197,461).

6. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 5,827 7,607

Deferred
tax
£   
Balance at 1 April 2017 7,607
Provided during year (1,780 )
Balance at 31 March 2018 5,827

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


6. PROVISIONS FOR LIABILITIES - continued

Full provision for the potential liability has been made, and relates to the interest in the vessel partnership and the fair value
gains on listed investments.

At 31 March 2018, there is a potential deferred tax asset of £7,373, using a tax rate of 19% (2017: £7,760) relating to losses
in the main business for which no provision has been made.

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
120 Ordinary £1 120 120

8. RESERVES
Share
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2017 352,817 880 353,697
Profit for the year 14,054 - 14,054
Dividends (24,000 ) - (24,000 )
At 31 March 2018 342,871 880 343,751

Retained earnings include non-distributable earnings amounting to £nil (2017: £19,641), in respect of fair value gains/losses
in listed investments less related deferred tax.

9. CONTINGENT LIABILITIES

The company has indemnified the bank in respect of a guarantee for £200,000 (2017: £200,000) granted to The Don Fishing
Co. Limited arising in the normal course of business.

10. RELATED PARTY DISCLOSURES

The company us now under the control of Mr David Ross who received all the dividends paid in the year.