Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true2021-01-01falseNo description of principal activity2518trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC393172 2021-01-01 2021-12-31 SC393172 2020-01-01 2020-12-31 SC393172 2021-12-31 SC393172 2020-12-31 SC393172 c:CompanySecretary1 2021-01-01 2021-12-31 SC393172 c:Director1 2021-01-01 2021-12-31 SC393172 c:Director3 2021-01-01 2021-12-31 SC393172 c:RegisteredOffice 2021-01-01 2021-12-31 SC393172 d:Buildings 2021-01-01 2021-12-31 SC393172 d:Buildings 2021-12-31 SC393172 d:Buildings 2020-12-31 SC393172 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC393172 d:PlantMachinery 2021-01-01 2021-12-31 SC393172 d:PlantMachinery 2021-12-31 SC393172 d:PlantMachinery 2020-12-31 SC393172 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC393172 d:MotorVehicles 2021-01-01 2021-12-31 SC393172 d:MotorVehicles 2021-12-31 SC393172 d:MotorVehicles 2020-12-31 SC393172 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC393172 d:OfficeEquipment 2021-01-01 2021-12-31 SC393172 d:OfficeEquipment 2021-12-31 SC393172 d:OfficeEquipment 2020-12-31 SC393172 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC393172 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC393172 d:CurrentFinancialInstruments 2021-12-31 SC393172 d:CurrentFinancialInstruments 2020-12-31 SC393172 d:Non-currentFinancialInstruments 2021-12-31 SC393172 d:Non-currentFinancialInstruments 2020-12-31 SC393172 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 SC393172 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 SC393172 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 SC393172 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 SC393172 d:ShareCapital 2021-12-31 SC393172 d:ShareCapital 2020-12-31 SC393172 d:RetainedEarningsAccumulatedLosses 2021-12-31 SC393172 d:RetainedEarningsAccumulatedLosses 2020-12-31 SC393172 c:OrdinaryShareClass1 2021-01-01 2021-12-31 SC393172 c:OrdinaryShareClass1 2021-12-31 SC393172 c:OrdinaryShareClass1 2020-12-31 SC393172 c:OrdinaryShareClass2 2021-01-01 2021-12-31 SC393172 c:OrdinaryShareClass2 2021-12-31 SC393172 c:OrdinaryShareClass2 2020-12-31 SC393172 c:FRS102 2021-01-01 2021-12-31 SC393172 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 SC393172 c:FullAccounts 2021-01-01 2021-12-31 SC393172 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC393172










EAST NEUK SHELLFISH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 
EAST NEUK SHELLFISH LIMITED
 

COMPANY INFORMATION


Directors
Mr R D Martinez 
Mrs N Regulez 




Company secretary
Thorntons Law LLP



Registered number
SC393172



Registered office
Kinburn Castle
Double Dykes Road

St Andrews

Fife

KY16 9DR




Accountants
EQ Accountants LLP
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
EAST NEUK SHELLFISH LIMITED
REGISTERED NUMBER: SC393172

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
£
£

Fixed assets
  

Tangible assets
 4 
491,657
382,764

  
491,657
382,764

Current assets
  

Debtors: amounts falling due within one year
 5 
1,034,904
679,860

Bank & cash balances
  
3,319
19,288

  
1,038,223
699,148

Creditors: amounts falling due within one year
 6 
(533,412)
(412,915)

Net current assets
  
 
 
504,811
 
 
286,233

Total assets less current liabilities
  
996,468
668,997

Creditors: amounts falling due after more than one year
 7 
(260,308)
(231,501)

Provisions for liabilities
  

Deferred tax
  
(67,745)
(46,245)

  
 
 
(67,745)
 
 
(46,245)

Net assets
  
668,415
391,251


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
668,413
391,249

  
668,415
391,251


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2022.



Page 1

 
EAST NEUK SHELLFISH LIMITED
REGISTERED NUMBER: SC393172

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021


Mr R D Martinez
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
EAST NEUK SHELLFISH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

East Neuk Shellfish is private company limited by shares and incorporated in Scotland. The address of the registered office is Kinburn Castle, Double Dykes Road, St Andrews, Fife, KY16 9DR. The trading address is 4 Virgin Square, St Monans, Anstruther, Fife, KY10 2AA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
EAST NEUK SHELLFISH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Heritable property
-
2%
straight line
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.



Page 4

 
EAST NEUK SHELLFISH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2020 - 18).

Page 5

 
EAST NEUK SHELLFISH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Heritable property
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
146,407
330,419
184,690
4,230
665,746


Additions
-
98,616
96,685
-
195,301



At 31 December 2021

146,407
429,035
281,375
4,230
861,047



Depreciation


At 1 January 2021
14,453
148,489
117,833
2,207
282,982


Charge for the year on owned assets
2,929
42,084
40,890
505
86,408



At 31 December 2021

17,382
190,573
158,723
2,712
369,390



Net book value



At 31 December 2021
129,025
238,462
122,652
1,518
491,657



At 31 December 2020
131,954
181,930
66,857
2,023
382,764


5.


Debtors

2021
2020
£
£


Trade debtors
949,141
640,062

Other debtors
55,763
9,798

Prepayments and accrued income
30,000
30,000

1,034,904
679,860


Page 6

 
EAST NEUK SHELLFISH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank overdrafts
114,121
-

Trade creditors
219,118
256,013

Accruals and deferred income
2,273
2,273

Other taxation and social security
84,541
41,366

Other creditors
2,153
30,440

Obligations under finance lease and hire purchase contracts
79,165
63,697

Bank loans
32,041
19,126

533,412
412,915


The following liabilities were secured:




Details of security provided:

The company granted a standard charge in favour of the Clydesdale Bank PLC over The Boat Shed, Virgin Square, St Monans, Fife recorded in the Land register of Scotland under title number FFE18309.
The company granted a floating charge in favour of the Clydesdale Bank PLC over its undertakings, assets and rights owned now or in the future.


7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
88,259
119,442

Net obligations under finance leases and hire purchase contracts
172,049
112,059

260,308
231,501



8.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 - 1) Ordinary A share of £1.00
1
1
1 (2020 - 1) Ordinary B share of £1.00
1
1

2

2



Page 7