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REGISTERED NUMBER: SC042610 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE LOCH CLASH FISH COMPANY LIMITED

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Chartered Accountants' Report 7

THE LOCH CLASH FISH COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr D W Ross





REGISTERED OFFICE: The Braes
Badcall Inchard
Rhiconich
LAIRG
Sutherland
IV27 4RQ





REGISTERED NUMBER: SC042610 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,860 7,888
Investments 5 368,754 383,146
374,614 391,034

CURRENT ASSETS
Debtors 6 186,484 220,264
Cash at bank and in hand 102,810 107,542
289,294 327,806
CREDITORS
Amounts falling due within one year 7 93,435 129,274
NET CURRENT ASSETS 195,859 198,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,473

589,566

PROVISIONS FOR LIABILITIES 38,114 1,363
NET ASSETS 532,359 588,203

CAPITAL AND RESERVES
Called up share capital 120 120
Revaluation reserve 8 175,403 210,099
Capital redemption reserve 880 880
Fair value reserve 8 10,492 -
Retained earnings 345,464 377,104
SHAREHOLDERS' FUNDS 532,359 588,203

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 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.

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 1 November 2023 and were signed by:




Mr D W Ross - Director


THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

The Loch Clash Fish Company 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. Turnover includes revenue earned from the sale of goods and hire of equipment.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for delivery of the goods.

Provision of Services
Revenue is recognised in the accounting period in which the services are rendered when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.
Land and buildings - Over the term of the lease
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at valuation on incorporation of the associate company, at which point the investment, which was previously in a partnership, was reclassified from fixed assets.

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 taxation
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.

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments are stated at fair value at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 9,367 108,893 118,260
Additions - 398 398
At 31 March 2023 9,367 109,291 118,658
DEPRECIATION
At 1 April 2022 8,929 101,443 110,372
Charge for year 438 1,988 2,426
At 31 March 2023 9,367 103,431 112,798
NET BOOK VALUE
At 31 March 2023 - 5,860 5,860
At 31 March 2022 438 7,450 7,888

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 233,861 149,285 383,146
Additions - 2,793 2,793
Disposals - (12,197 ) (12,197 )
Fair value adjustment - (4,988 ) (4,988 )
At 31 March 2023 233,861 134,893 368,754
NET BOOK VALUE
At 31 March 2023 233,861 134,893 368,754
At 31 March 2022 233,861 149,285 383,146

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2023 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2020 210,099 - 210,099
Valuation in 2022 - 19,911 19,911
Valuation in 2023 - (6,958 ) (6,958 )
Cost 23,762 121,940 145,702
233,861 134,893 368,754

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 52,709 87,568
Other debtors 2,775 1,696
55,484 89,264

Amounts falling due after more than one year:
Amounts owed by associates 131,000 131,000

Aggregate amounts 186,484 220,264

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 87,206 125,694
Taxation and social security 1,810 -
Other creditors 4,419 3,580
93,435 129,274

THE LOCH CLASH FISH COMPANY LIMITED (REGISTERED NUMBER: SC042610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2022 210,099 - 210,099
Revaluations in the year - 12,953 12,953
Deferred tax provision (34,696 ) (2,461 ) (37,157 )

At 31 March 2023 175,403 10,492 185,895

Revaluation Reserve
This reserve reflects the revaluation of the investment in an associate prior to incorporation, when held as a fixed asset, (less provision for deferred tax).

These gains or losses are non-distributable.

Fair Value Reserve
This reserve reflects cumulative revaluations of fixed asset investments.

These gains or losses are non-distributable.

9. CONTINGENT LIABILITIES

The company has indemnified the bank in respect of a guarantee for £100,000 (2022: £100,000) granted to The Don Fishing Co. Limited arising in the normal course of business.

10. RELATED PARTY DISCLOSURES

Included within debtors is a loan amounting to £131,000 (2022: £131,000) advanced to Loch Inchard Fishing Company Limited, a company in which The Loch Clash Fish Company Limited hold a participating interest. The loan has no set repayment terms and no interest is chargeable.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE LOCH CLASH FISH COMPANY LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Loch Clash Fish Company Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of The Loch Clash Fish Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Loch Clash Fish Company Limited and state those matters that we have agreed to state to the director of The Loch Clash Fish Company Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The Loch Clash Fish Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Loch Clash Fish Company Limited. You consider that The Loch Clash Fish Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Loch Clash Fish Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


1 November 2023