Relate AccountsProduction v2.5.2 v2.5.2 2021-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is development of salmon farms. 31 March 2022 0 0 SC627565 2021-12-31 SC627565 2020-12-31 SC627565 2019-12-31 SC627565 2021-01-01 2021-12-31 SC627565 2020-01-01 2020-12-31 SC627565 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC627565 uk-bus:FullAccounts 2021-01-01 2021-12-31 SC627565 uk-bus:Director1 2021-01-01 2021-12-31 SC627565 uk-bus:Director2 2021-01-01 2021-12-31 SC627565 uk-bus:Director3 2021-01-01 2021-12-31 SC627565 uk-bus:Director4 2021-01-01 2021-12-31 SC627565 uk-bus:CompanySecretary1 2021-01-01 2021-12-31 SC627565 uk-bus:CompanySecretary2 2021-01-01 2021-12-31 SC627565 uk-bus:RegisteredOffice 2021-01-01 2021-12-31 SC627565 uk-bus:Agent1 2021-01-01 2021-12-31 SC627565 uk-core:ShareCapital 2021-12-31 SC627565 uk-core:ShareCapital 2020-12-31 SC627565 uk-core:SharePremium 2021-12-31 SC627565 uk-core:SharePremium 2020-12-31 SC627565 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 SC627565 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 SC627565 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-12-31 SC627565 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2020-12-31 SC627565 uk-bus:FRS102 2021-01-01 2021-12-31 SC627565 uk-core:AdditionsToInvestments 2021-12-31 SC627565 uk-core:CostValuation 2021-12-31 SC627565 uk-core:WithinOneYear 2021-12-31 SC627565 uk-core:WithinOneYear 2020-12-31 SC627565 2021-01-01 2021-12-31 SC627565 uk-bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: SC627565
 
 
Loch Long Salmon Ltd
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2021
Loch Long Salmon Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Christopher Harwood
Stewart Hawthorn
Neale Alan Powell-Cook (Appointed 15 June 2021)
Sam Roch-Perks (Resigned 15 June 2021)
 
 
Company Secretary Des Quigley (Appointed 15 June 2021)
Mark Shotter (Resigned 15 June 2021)
 
 
Company Registration Number SC627565
 
 
Registered Office and Business Address 21 Young Street
Edinburgh
Scotland
United Kingdom
 
 
Accountants Thos. Goodall & Son
Link House
Boreenmanna Road
Cork
Republic of Ireland



Loch Long Salmon Ltd
DIRECTORS' REPORT
for the financial year ended 31 December 2021

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2021.
     
Directors
The directors who served during the financial year are as follows:
     
Christopher Harwood
Stewart Hawthorn
Neale Alan Powell-Cook (Appointed 15 June 2021)
Sam Roch-Perks (Resigned 15 June 2021)
   
There were no changes in their shareholdings between 31 December 2021 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
___________________________
Christopher Harwood
Director
     
31 March 2022



Loch Long Salmon Ltd
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2021
2021 2020
Notes £ £

Cost of sales - -
───────── ─────────
Gross profit - -
 
Administrative expenses 113,731 (117,200)
───────── ─────────
Profit/(loss) before taxation 113,731 (117,200)
 
Tax on profit/(loss) - -
───────── ─────────
Profit/(loss) for the financial year 10 113,731 (117,200)
───────── ─────────
Total comprehensive income 113,731 (117,200)
    ═════════   ═════════



Loch Long Salmon Ltd
Company Registration Number: SC627565
BALANCE SHEET
as at 31 December 2021

2021 2020
Notes £ £
 
Fixed Assets
Investments 5 100 -
───────── ─────────
 
Current Assets
Stocks 6 519,814 -
Debtors 7 84,499 22,791
Cash and cash equivalents 598,092 23,049
───────── ─────────
1,202,405 45,840
───────── ─────────
Creditors: amounts falling due within one year 8 (35,702) (162,915)
───────── ─────────
Net Current Assets/(Liabilities) 1,166,703 (117,075)
───────── ─────────
Total Assets less Current Liabilities 1,166,803 (117,075)
═════════ ═════════
 
Capital and Reserves
Called up share capital 197 125
Share premium account 10 1,170,075 -
Retained earnings (3,469) (117,200)
───────── ─────────
Equity attributable to owners of the company 1,166,803 (117,075)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 31 March 2022 and signed on its behalf by
           
________________________________          
Christopher Harwood          
Director          
           



Loch Long Salmon Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2021

   
1. General Information
 
Loch Long Salmon Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is SC627565. The registered office of the company is 21 Young Street, Edinburgh, Scotland, United Kingdom which is also the principal place of business of the company. The principal activity is development of salmon farms. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2021 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the financial year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The comparative figures relate to the 9 month period ended 31 December 2020.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 3, (2020 - 3).
       
5. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
Additions 100 100
  ───────── ─────────
At 31 December 2021 100 100
  ───────── ─────────
Net book value
At 31 December 2021 100 100
  ═════════ ═════════
       
6. Stocks 2021 2020
  £ £
 
Work in progress 519,814 -
  ═════════ ═════════
       
7. Debtors 2021 2020
  £ £
 
Taxation  (Note 9) 84,499 22,791
  ═════════ ═════════
       
8. Creditors 2021 2020
Amounts falling due within one year £ £
 
Trade creditors 19,959 10,943
Amounts owed to group undertakings 100 151,972
Accruals 15,643 -
  ───────── ─────────
  35,702 162,915
  ═════════ ═════════
       
9. Taxation 2021 2020
  £ £
 
Debtors:
VAT 84,499 22,791
  ═════════ ═════════
   
10. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2021.
 
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2021.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.