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REGISTERED NUMBER: SC157761 (Scotland)










Unaudited Financial Statements for the Year Ended 31 March 2023

for

Cumbrae Oysters Limited

Cumbrae Oysters Limited (Registered number: SC157761)






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


Cumbrae Oysters Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A E Forbes





SECRETARY: A E Forbes





REGISTERED OFFICE: Viewfield
38A Bowfield Road
Howwood
JOHNSTONE
PA9 1BS





REGISTERED NUMBER: SC157761 (Scotland)





ACCOUNTANTS: The Kelvin Partnership Ltd
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Cumbrae Oysters Limited (Registered number: SC157761)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,861 33,841

CURRENT ASSETS
Stocks 101,838 71,627
Debtors 5 404,392 317,234
Cash at bank and in hand 151,488 135,182
657,718 524,043
CREDITORS
Amounts falling due within one year 6 144,797 122,920
NET CURRENT ASSETS 512,921 401,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

550,782

434,964

CREDITORS
Amounts falling due after more than one
year

7

22,288

32,542
NET ASSETS 528,494 402,422

CAPITAL AND RESERVES
Called up share capital 26,325 26,325
Capital redemption reserve 675 675
Retained earnings 501,494 375,422
SHAREHOLDERS' FUNDS 528,494 402,422

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.

Cumbrae Oysters Limited (Registered number: SC157761)

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 director and authorised for issue on 23 November 2023 and were signed by:





A E Forbes - Director


Cumbrae Oysters Limited (Registered number: SC157761)

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

1. STATUTORY INFORMATION

Cumbrae Oysters 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 receivable for the provision of goods and services falling within the company's ordinary activities, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools & diving equipment - at varying rates on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Sea vessels - 20% on cost and 10% 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.

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.

Cumbrae Oysters Limited (Registered number: SC157761)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Tools & Fixtures
diving and Motor Sea
equipment fittings vehicles vessels Totals
£    £    £    £    £   
COST
At 1 April 2022 74,433 10,769 69,034 116,541 270,777
Additions - - 21,495 - 21,495
Disposals - - (5,400 ) - (5,400 )
At 31 March 2023 74,433 10,769 85,129 116,541 286,872
DEPRECIATION
At 1 April 2022 70,068 7,371 42,956 116,541 236,936
Charge for year 2,183 1,485 11,647 - 15,315
Eliminated on disposal - - (3,240 ) - (3,240 )
At 31 March 2023 72,251 8,856 51,363 116,541 249,011
NET BOOK VALUE
At 31 March 2023 2,182 1,913 33,766 - 37,861
At 31 March 2022 4,365 3,398 26,078 - 33,841

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 384,017 282,421
Other debtors 20,375 34,813
404,392 317,234

Cumbrae Oysters Limited (Registered number: SC157761)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,851 9,598
Trade creditors 92,183 94,461
Taxation and social security 37,750 14,855
Other creditors 5,013 4,006
144,797 122,920

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,288 32,542

8. ULTIMATE CONTROLLING PARTY

The controlling party is A E Forbes.

The ultimate controlling party is A E Forbes.