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REGISTERED NUMBER: SC205391 (Scotland)















HEBRIDEAN SMOKEHOUSE LIMITED

Financial Statements for the Year Ended 28 February 2023






HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEBRIDEAN SMOKEHOUSE LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTOR: George Fergus Granville Leveson-Gower



REGISTERED OFFICE: Hebridean Smokehouse Ltd
Clachan Locheport
Isle Of North Uist
Western Isles
HS6 5HD



REGISTERED NUMBER: SC205391 (Scotland)



ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF



BANKERS: Bank of Scotland
Balivanich
Isle of Benbecula
Western Isles
HS7 5LA

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 70,885 115,016
70,885 115,016

CURRENT ASSETS
Stocks 7 148,790 129,195
Debtors 8 16,378 35,600
Cash at bank and in hand 373,417 355,602
538,585 520,397
CREDITORS
Amounts falling due within one year 9 64,350 106,208
NET CURRENT ASSETS 474,235 414,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,120

529,205

CREDITORS
Amounts falling due after more than one
year

10

(71,967

)

(85,009

)

ACCRUALS AND DEFERRED INCOME (14,075 ) (28,140 )
NET ASSETS 459,078 416,056

CAPITAL AND RESERVES
Called up share capital 11 200,000 200,000
Retained earnings 259,078 216,056
SHAREHOLDERS' FUNDS 459,078 416,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Balance Sheet - continued
28 February 2023


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 director and authorised for issue on 11 May 2023 and were signed by:





George Fergus Granville Leveson-Gower - Director


HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Hebridean Smokehouse 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The accounts are rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Significant judgements and estimates
Fixed asset net book value and depreciation charges are the areas of the accounts which are affected by significant judgements and estimates. The directors exercise judgement in determining both the useful economic life and the likely residual value of the company's assets. This judgement affects the rates of and charge for depreciation as well as grant release in the accounts for the year. It also therefore affects the net book value of the assets in the balance sheet.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Land and buildings - 5% on cost
Plant and machinery - 20% on cost

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. Tangible assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 187,500
AMORTISATION
At 1 March 2022
and 28 February 2023 187,500
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

6. TANGIBLE FIXED ASSETS
Land and Plant and Motor Computer
buildings machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022
and 28 February 2023 735,977 356,371 27,836 4,441 1,124,625
DEPRECIATION
At 1 March 2022 711,464 288,082 5,622 4,441 1,009,609
Charge for year 22,513 17,176 4,442 - 44,131
At 28 February 2023 733,977 305,258 10,064 4,441 1,053,740
NET BOOK VALUE
At 28 February 2023 2,000 51,113 17,772 - 70,885
At 28 February 2022 24,513 68,289 22,214 - 115,016

Included in cost of land and buildings is freehold land of £ 2,000 (2022 - £ 2,000 ) which is not depreciated.

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 19,586
Transfer to ownership (19,586 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 5,484
Charge for year 2,820
Transfer to ownership (8,304 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 14,102

7. STOCKS
28.2.23 28.2.22
£    £   
Stocks - cost of sales 143,981 125,418
Stocks - overheads 4,809 3,777
148,790 129,195

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 5,381 22,711
VAT 10,997 12,889
16,378 35,600

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts - 5,328
Trade creditors 33,939 41,870
Company credit card 2,449 83
Tax 17,144 48,381
Social security and other taxes 3,577 4,509
Pensions liability 741 537
Accrued expenses 6,500 5,500
64,350 106,208

HEBRIDEAN SMOKEHOUSE LIMITED (REGISTERED NUMBER: SC205391)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Loan from director 71,967 85,009

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
200,000 Ordinary £1 200,000 200,000

12. RELATED PARTY DISCLOSURES

Liabilities falling due beyond one year include £71,967 (2022 - £85,009) due to F Granville, director. There are no fixed repayment terms in place and no interest is charged on the balance.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is F Granville, director.