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REGISTERED NUMBER: SC243849 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Blydoit Fish Limited

Blydoit Fish Limited (Registered number: SC243849)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Blydoit Fish Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J J Shearer
D L Robertson
E G Johnson
R A Shearer





SECRETARY: J J Shearer





REGISTERED OFFICE: Unit 1
Blydoit Industrial Estate
Scalloway
Shetland
ZE1 0UG





REGISTERED NUMBER: SC243849 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

Blydoit Fish Limited (Registered number: SC243849)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 226,431 232,443
226,431 232,443

CURRENT ASSETS
Stocks 19,610 19,369
Debtors 6 125,057 179,065
Cash at bank and in hand 199,407 94,120
344,074 292,554
CREDITORS
Amounts falling due within one year 7 169,285 138,751
NET CURRENT ASSETS 174,789 153,803
TOTAL ASSETS LESS CURRENT LIABILITIES 401,220 386,246

CREDITORS
Amounts falling due after more than one
year

8

-

(6,167

)

PROVISIONS FOR LIABILITIES (14,740 ) (11,555 )
NET ASSETS 386,480 368,524

CAPITAL AND RESERVES
Called up share capital 12,004 12,004
Revaluation reserve 9 71,825 71,825
Retained earnings 302,651 284,695
SHAREHOLDERS' FUNDS 386,480 368,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Blydoit Fish Limited (Registered number: SC243849)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:




R A Shearer - Director E G Johnson - Director




J J Shearer - Director D L Robertson - Director


Blydoit Fish Limited (Registered number: SC243849)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Blydoit Fish 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 as modified by the revaluation of certain assets.

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 2007, is being amortised evenly over its estimated useful life of five 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
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 the shorter.
Improvements to property - 25% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


Blydoit Fish Limited (Registered number: SC243849)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 32,000
AMORTISATION
At 1 April 2022
and 31 March 2023 32,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Blydoit Fish Limited (Registered number: SC243849)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 April 2022 155,000 2,165 147,500
Additions - - 11,500
Disposals - - (9,886 )
At 31 March 2023 155,000 2,165 149,114
DEPRECIATION
At 1 April 2022 - 2,165 95,168
Charge for year - - 9,143
Eliminated on disposal - - (8,046 )
At 31 March 2023 - 2,165 96,265
NET BOOK VALUE
At 31 March 2023 155,000 - 52,849
At 31 March 2022 155,000 - 52,332

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 49,610 4,356 358,631
Additions - - 11,500
Disposals - (1,463 ) (11,349 )
At 31 March 2023 49,610 2,893 358,782
DEPRECIATION
At 1 April 2022 25,152 3,703 126,188
Charge for year 6,115 216 15,474
Eliminated on disposal - (1,265 ) (9,311 )
At 31 March 2023 31,267 2,654 132,351
NET BOOK VALUE
At 31 March 2023 18,343 239 226,431
At 31 March 2022 24,458 653 232,443

Blydoit Fish Limited (Registered number: SC243849)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2022 71,825 - -
Cost 83,175 2,165 149,114
155,000 2,165 149,114

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2022 - - 71,825
Cost 49,610 2,893 286,957
49,610 2,893 358,782

Revaluation of the property at Unit 1, Blydoit Industrial Estate, Scalloway, Shetland, ZE1 0UG has been made in accordance with the valuation placed on the property by L Simpson MRICS.

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 41,568 30,655 72,223
Transfer to ownership (41,568 ) - (41,568 )
At 31 March 2023 - 30,655 30,655
DEPRECIATION
At 1 April 2022 17,955 14,027 31,982
Charge for year - 4,157 4,157
Transfer to ownership (17,955 ) - (17,955 )
At 31 March 2023 - 18,184 18,184
NET BOOK VALUE
At 31 March 2023 - 12,471 12,471
At 31 March 2022 23,613 16,628 40,241

Blydoit Fish Limited (Registered number: SC243849)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 115,705 117,021
Other debtors 9,352 12,044
125,057 129,065

Amounts falling due after more than one year:
Other debtors - 50,000

Aggregate amounts 125,057 179,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts and finance leases 6,167 14,784
Trade creditors 87,545 83,532
Taxation and social security 38,299 23,728
Other creditors 37,274 16,707
169,285 138,751

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts and finance leases - 6,167

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 71,825