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REGISTERED NUMBER: SC125805 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

EASDALE SEAFOODS LIMITED

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EASDALE SEAFOODS LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2021







DIRECTORS: Douglas Pritchard Hill
Linda Susan Hill
Richard Kenneth Duscherer Hill
Calum Duscherer Hill
Dawn Duscherer Singleton





SECRETARY: Linda Susan Hill





REGISTERED OFFICE: c/o Abacus Services
Abacus Building,
8 High Street
OBAN
Argyll
PA34 4BG





REGISTERED NUMBER: SC125805 (Scotland)





ACCOUNTANTS: R A Clement Associates
Chartered Accountants
Argyll Square
Oban
Argyll
PA34 4AZ

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 495,470 380,189
Investments 5 154,309 154,309
Investment property 6 905,454 956,598
1,555,233 1,491,096

CURRENT ASSETS
Stocks 16,210 14,459
Debtors 7 694,069 669,799
Cash at bank and in hand 1,447,319 1,274,081
2,157,598 1,958,339
CREDITORS
Amounts falling due within one year 8 145,162 149,987
NET CURRENT ASSETS 2,012,436 1,808,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,567,669

3,299,448

PROVISIONS FOR LIABILITIES 68,057 48,764
NET ASSETS 3,499,612 3,250,684

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 9 85,236 95,727
Other reserves 22,900 22,900
Retained earnings 3,371,476 3,112,057
SHAREHOLDERS' FUNDS 3,499,612 3,250,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

BALANCE SHEET - continued
31 December 2021


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

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 and authorised for issue on 29 August 2022 and were signed on its behalf by:





Linda Susan Hill - Director


EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021

1. STATUTORY INFORMATION

Easdale Seafoods 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Factory - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Boats - 10% on reducing balance

Investment property
Investment properties are recorded at their revalued directors valuation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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 profit or loss in the period to which they relate.

Government grants
Previously grants received in respect of capital expenditure were credited to a deferred income account and released to the profit and loss account over the expected useful lives of the assets for which funding was received in equal annual instalments. The company now accounts for grants using the performance method whereby grants are deferred to the extent performance milestones have not yet been reached. Otherwise grants are credited to the profit and loss account in the year they are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Factory machinery fittings
£    £    £   
COST
At 1 January 2021 441,874 161,197 40,566
Additions - 20,671 -
Disposals - - -
At 31 December 2021 441,874 181,868 40,566
DEPRECIATION
At 1 January 2021 359,489 156,871 38,758
Charge for year 22,094 4,999 362
Eliminated on disposal - - -
At 31 December 2021 381,583 161,870 39,120
NET BOOK VALUE
At 31 December 2021 60,291 19,998 1,446
At 31 December 2020 82,385 4,326 1,808

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Boats Totals
£    £    £   
COST
At 1 January 2021 96,512 398,928 1,139,077
Additions 59,203 133,010 212,884
Disposals (12,994 ) - (12,994 )
At 31 December 2021 142,721 531,938 1,338,967
DEPRECIATION
At 1 January 2021 47,934 155,836 758,888
Charge for year 25,228 37,610 90,293
Eliminated on disposal (5,684 ) - (5,684 )
At 31 December 2021 67,478 193,446 843,497
NET BOOK VALUE
At 31 December 2021 75,243 338,492 495,470
At 31 December 2020 48,578 243,092 380,189

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021
and 31 December 2021 154,309
NET BOOK VALUE
At 31 December 2021 154,309
At 31 December 2020 154,309


6. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2021 956,598
Additions 211,130
Disposals (262,274 )
At 31 December 2021 905,454
NET BOOK VALUE
At 31 December 2021 905,454
At 31 December 2020 956,598

Investment properties are recorded at their revalued directors valuation.

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2021

7. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Trade debtors 463,724 371,535
Other debtors 127,956 195,875
591,680 567,410

Amounts falling due after more than one year:
Other debtors 102,389 102,389

Aggregate amounts 694,069 669,799

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 39,012 28,436
Taxation and social security 74,088 94,979
Other creditors 32,062 26,572
145,162 149,987

9. RESERVES
Revaluation
reserve
£   
At 1 January 2021 95,727
Disposal (10,491 )

At 31 December 2021 85,236

10. ULTIMATE CONTROLLING PARTY

The directors, by virtue of their shareholdings are the ultimate controlling party.