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REGISTERED NUMBER: SC026061 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Newbie Salmon Fisheries (Property)
Limited

Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Newbie Salmon Fisheries (Property)
Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P A G Mackenzie
Mrs K E Mackenzie





SECRETARY: P A G Mackenzie





REGISTERED OFFICE: Glenkyllachy
Tomatin
Inverness
IV13 7YA





REGISTERED NUMBER: SC026061 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)

Statement of Financial Position
30 June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5,700,000 5,700,000
Investments 5 110,262 76,756
5,810,262 5,776,756

CURRENT ASSETS
Debtors 6 2,229,388 758,065
Financial assets 7 - 69
Cash at bank 538,896 273,966
2,768,284 1,032,100
CREDITORS
Amounts falling due within one year 8 1,015,200 668,765
NET CURRENT ASSETS 1,753,084 363,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,563,346

6,140,091

CREDITORS
Amounts falling due after more than one
year

9

(1,010,951

)

(2,293,941

)

PROVISIONS FOR LIABILITIES (1,399,999 ) (1,400,016 )
NET ASSETS 5,152,396 2,446,134

CAPITAL AND RESERVES
Called up share capital 37,500 37,500
Revaluation reserve 429,389 429,389
Fair value reserve - 50
Retained earnings 4,685,507 1,979,195
SHAREHOLDERS' FUNDS 5,152,396 2,446,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)

Statement of Financial Position - continued
30 June 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 29 March 2024 and were signed on its behalf by:





P A G Mackenzie - Director


Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Newbie Salmon Fisheries (Property) 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 (£).


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 represents net invoiced sales of goods and services, excluding VAT.


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

Freehold Land is not depreciated.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. PROPERTY, PLANT AND EQUIPMENT
Land and
buildings
£   
COST OR VALUATION
At 1 July 2022
and 30 June 2023 5,700,000
NET BOOK VALUE
At 30 June 2023 5,700,000
At 30 June 2022 5,700,000

Cost or valuation at 30 June 2023 is represented by:

Land and
buildings
£   
Valuation in 2018 5,650,000
Cost 50,000
5,700,000

If heritable land had not been revalued it would have been included at the following historical cost:

30/6/23 30/6/22
£    £   
Cost 50,000 50,000

Value of land in freehold land and buildings 5,700,000 5,700,000

Heritable land was valued on an open market basis on 2 March 2017 by Peter Graham & Associates LLP .

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 76,756
Additions 37,524
Revaluations (4,018 )
At 30 June 2023 110,262
NET BOOK VALUE
At 30 June 2023 110,262
At 30 June 2022 76,756

Newbie Salmon Fisheries (Property)
Limited (Registered number: SC026061)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Other
investments
£   
Valuation in 2023 (3,950 )
Cost 114,212
110,262

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Other debtors 2,229,388 758,065

7. CURRENT ASSET INVESTMENTS
30/6/23 30/6/22
£    £   
Unlisted investments - 69

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 145,496 217,334
Amounts owed to group undertakings 194 194
Taxation and social security 817,985 281,234
Other creditors 51,525 170,003
1,015,200 668,765

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Bank loans 1,010,951 2,293,941

10. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Bank loans 1,156,447 2,511,275

Royal Bank of Scotland PLC holds a floating charge over the company's whole property and undertaking.
RWE Innogy UK Ltd holds a charge over part of the estates of Farr and Glenkyllachy.
Scottish Hydro Electric Transmission plc holds a charge on 5.12 hectares of part of Garbole Forest, Tomatin.