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REGISTERED NUMBER: SC333303 (Scotland)











































D.R. Collin (Fish) Limited

Audited Financial Statements

for the Year Ended 30th April 2023






D.R. Collin (Fish) Limited (Registered number: SC333303)






Contents of the Financial Statements
for the year ended 30th April 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3 to 6


D.R. Collin (Fish) Limited

Company Information
for the year ended 30th April 2023







Directors: S F Aitchison
J C Cook
P J Virtue
Mrs S A Wilson





Secretary: R Mark





Registered office: Unit 1
Coldingham Road Industrial Estate
Eyemouth
Berwickshire
TD14 5AN





Registered number: SC333303 (Scotland)





Auditors: Rennie Welch Audit Limited
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

D.R. Collin (Fish) Limited (Registered number: SC333303)

Balance Sheet
30th April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 8,827 11,034
8,827 11,034

Current assets
Stocks 18,923 26,446
Debtors 6 24,180 31,830
Cash at bank and in hand 24,628 13,980
67,731 72,256
Creditors
Amounts falling due within one year 7 246,623 278,510
Net current liabilities (178,892 ) (206,254 )
Total assets less current liabilities (170,065 ) (195,220 )

Provisions for liabilities 1,609 1,543
Net liabilities (171,674 ) (196,763 )

Capital and reserves
Called up share capital 200 200
Retained earnings (171,874 ) (196,963 )
Shareholders' funds (171,674 ) (196,763 )

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st November 2023 and were signed on its behalf by:





Mrs S A Wilson - Director


D.R. Collin (Fish) Limited (Registered number: SC333303)

Notes to the Financial Statements
for the year ended 30th April 2023

1. Statutory information

D.R. Collin (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.

Turnover
Turnover is the amount derived from ordinary activities, and is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances, and is stated net of VAT.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in the year ended 2008, has subsequently been fully written down to nil value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 20% reducing balance method
Motor vehicles - 20% reducing balance method
Office equipment - 20% reducing balance method

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down of loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

D.R. Collin (Fish) Limited (Registered number: SC333303)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

2. Accounting policies - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, other debtors, trade creditors, other creditors, current accounts with related parties and accruals.

Trade debtors, other debtors, trade creditors, other creditors, current accounts with related parties and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates of exchange ruling at the balance sheet date or the forward contract rate, where such contracts are in place. All differences are taken to the statement of income and retained earnings.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short-term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

D.R. Collin (Fish) Limited (Registered number: SC333303)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

2. Accounting policies - continued

Going concern
The company has a deficit on the balance sheet but was able to generate a profit in the year. The majority of the long term funding for the company is secured from the financial contribution by the parent company of the group through a related party current account. The parent company has made a commitment not to seek repayment of this facility within the short term. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 13 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st May 2022
and 30th April 2023 320,000
Amortisation
At 1st May 2022
and 30th April 2023 320,000
Net book value
At 30th April 2023 -
At 30th April 2022 -

5. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st May 2022
and 30th April 2023 51,313 5,650 660 57,623
Depreciation
At 1st May 2022 44,958 1,130 501 46,589
Charge for year 1,271 904 32 2,207
At 30th April 2023 46,229 2,034 533 48,796
Net book value
At 30th April 2023 5,084 3,616 127 8,827
At 30th April 2022 6,355 4,520 159 11,034

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 13,992 17,508
Amounts owed by group undertakings 189 1,101
Other debtors 9,999 13,221
24,180 31,830

D.R. Collin (Fish) Limited (Registered number: SC333303)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 39,841 58,026
Amounts owed to group undertakings 189,213 207,912
Taxation and social security 9,333 3,039
Other creditors 8,236 9,533
246,623 278,510

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Gillian Adamson BSC (Hons) CA CTA (Senior Statutory Auditor)
for and on behalf of Rennie Welch Audit Limited

9. Name of parent of group

These financial statements are consolidated in the financial statements of D. R. Collin & Son Ltd. The registered office of D. R. Collin & Son Ltd is Unit 1, Coldingham Road Industrial Estate, Eyemouth, Berwickshire, TD14 5AN