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REGISTERED NUMBER: SC068723 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Selcoth Fisheries Limited

Selcoth Fisheries Limited (Registered number: SC068723)






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


Selcoth Fisheries Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: O M Routledge
Mrs S Routledge





REGISTERED OFFICE: Selcoth
Moffat
Dumfriesshire
DG10 9LG





REGISTERED NUMBER: SC068723 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Selcoth Fisheries Limited (Registered number: SC068723)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 444,871 571,056

CURRENT ASSETS
Stocks 403,999 359,333
Debtors 5 139,558 76,079
Cash at bank and in hand 71,134 27,328
614,691 462,740
CREDITORS
Amounts falling due within one year 6 418,310 423,562
NET CURRENT ASSETS 196,381 39,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

641,252

610,234

CREDITORS
Amounts falling due after more than one
year

7

(406,341

)

(480,119

)

PROVISIONS FOR LIABILITIES (78,600 ) (101,000 )
NET ASSETS 156,311 29,115

CAPITAL AND RESERVES
Called up share capital 51 51
Capital redemption reserve (101,951 ) (101,951 )
Retained earnings 258,211 131,015
SHAREHOLDERS' FUNDS 156,311 29,115

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.

Selcoth Fisheries Limited (Registered number: SC068723)

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 1 July 2022 and were signed on its behalf by:





O M Routledge - Director


Selcoth Fisheries Limited (Registered number: SC068723)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Selcoth Fisheries 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.
Improvements to property - 15% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Selcoth Fisheries Limited (Registered number: SC068723)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2021 26,958 269,768 1,080,520
Additions - - 5,428
At 31 December 2021 26,958 269,768 1,085,948
DEPRECIATION
At 1 January 2021 - 204,606 609,740
Charge for year - 17,135 137,615
At 31 December 2021 - 221,741 747,355
NET BOOK VALUE
At 31 December 2021 26,958 48,027 338,593
At 31 December 2020 26,958 65,162 470,780

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 40,520 2,308 1,420,074
Additions 32,112 1,208 38,748
At 31 December 2021 72,632 3,516 1,458,822
DEPRECIATION
At 1 January 2021 32,532 2,140 849,018
Charge for year 9,839 344 164,933
At 31 December 2021 42,371 2,484 1,013,951
NET BOOK VALUE
At 31 December 2021 30,261 1,032 444,871
At 31 December 2020 7,988 168 571,056

Selcoth Fisheries Limited (Registered number: SC068723)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 107,503 26,711
Other debtors 663 -
Tax - 23,602
VAT 7,364 8,202
Prepayments 24,028 17,564
139,558 76,079

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Bank loans and overdrafts 54,696 54,696
Hire purchase contracts 55,346 64,236
Trade creditors 194,902 146,130
Social security and other taxes 4,082 5,838
Directors' current accounts 92,527 127,955
Accrued expenses 4,020 4,020
Deferred grants 12,737 20,687
418,310 423,562

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/21 31/12/20
£    £   
Bank loans - 1-2 years 55,546 55,546
Bank loans - 2-5 years 115,956 143,975
Other loans more 5yrs instal 199,803 219,290
Hire purchase contracts 35,036 61,308
406,341 480,119

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 199,803 219,290

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr O & Mrs S Routledge by virtue of their 100% shareholding.