Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true19false2023-01-01No description of principal activity19trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC393172 2023-01-01 2023-12-31 SC393172 2022-01-01 2022-12-31 SC393172 2023-12-31 SC393172 2022-12-31 SC393172 c:CompanySecretary1 2023-01-01 2023-12-31 SC393172 c:Director1 2023-01-01 2023-12-31 SC393172 c:Director3 2023-01-01 2023-12-31 SC393172 c:RegisteredOffice 2023-01-01 2023-12-31 SC393172 d:Buildings 2023-01-01 2023-12-31 SC393172 d:Buildings 2023-12-31 SC393172 d:Buildings 2022-12-31 SC393172 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:PlantMachinery 2023-01-01 2023-12-31 SC393172 d:PlantMachinery 2023-12-31 SC393172 d:PlantMachinery 2022-12-31 SC393172 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:MotorVehicles 2023-01-01 2023-12-31 SC393172 d:MotorVehicles 2023-12-31 SC393172 d:MotorVehicles 2022-12-31 SC393172 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:OfficeEquipment 2023-01-01 2023-12-31 SC393172 d:OfficeEquipment 2023-12-31 SC393172 d:OfficeEquipment 2022-12-31 SC393172 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC393172 d:OtherPropertyPlantEquipment 2023-12-31 SC393172 d:OtherPropertyPlantEquipment 2022-12-31 SC393172 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC393172 d:CurrentFinancialInstruments 2023-12-31 SC393172 d:CurrentFinancialInstruments 2022-12-31 SC393172 d:Non-currentFinancialInstruments 2023-12-31 SC393172 d:Non-currentFinancialInstruments 2022-12-31 SC393172 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC393172 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC393172 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC393172 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC393172 d:ShareCapital 2023-12-31 SC393172 d:ShareCapital 2022-12-31 SC393172 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC393172 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC393172 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC393172 c:OrdinaryShareClass1 2023-12-31 SC393172 c:OrdinaryShareClass1 2022-12-31 SC393172 c:OrdinaryShareClass2 2023-01-01 2023-12-31 SC393172 c:OrdinaryShareClass2 2023-12-31 SC393172 c:OrdinaryShareClass2 2022-12-31 SC393172 c:FRS102 2023-01-01 2023-12-31 SC393172 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC393172 c:FullAccounts 2023-01-01 2023-12-31 SC393172 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC393172 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC393172










EAST NEUK SHELLFISH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
EAST NEUK SHELLFISH LIMITED
 

COMPANY INFORMATION


Directors
Mr R D Martinez 
Mrs N Regulez 




Company secretary
Thorntons Law LLP



Registered number
SC393172



Registered office
Kinburn Castle
Double Dykes Road

St Andrews

Fife

KY16 9DR




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
EAST NEUK SHELLFISH LIMITED
REGISTERED NUMBER: SC393172

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
692,359
594,338

  
692,359
594,338

Current assets
  

Debtors: amounts falling due within one year
 5 
459,671
612,739

Bank & cash balances
  
4,139
3,739

  
463,810
616,478

Creditors: amounts falling due within one year
 6 
(506,610)
(489,019)

Net current (liabilities)/assets
  
 
 
(42,800)
 
 
127,459

Total assets less current liabilities
  
649,559
721,797

Creditors: amounts falling due after more than one year
 7 
(158,117)
(189,217)

Provisions for liabilities
  

Deferred tax
  
(96,428)
(67,214)

  
 
 
(96,428)
 
 
(67,214)

Net assets
  
395,014
465,366


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
395,012
465,364

  
395,014
465,366


Page 1

 
EAST NEUK SHELLFISH LIMITED
REGISTERED NUMBER: SC393172

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.




Mr R D Martinez
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EAST NEUK SHELLFISH LIMITED
 

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

1.


General information

East Neuk Shellfish is private company limited by shares and incorporated in Scotland. The address of the registered office is Kinburn Castle, Double Dykes Road, St Andrews, Fife, KY16 9DR. The trading address is 4 Virgin Square, St Monans, Anstruther, Fife, KY10 2AA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

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

Page 3

 
EAST NEUK SHELLFISH LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Heritable property
-
2%
straight line
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Fishing boats
-
10%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
EAST NEUK SHELLFISH LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 19).

Page 5

 
EAST NEUK SHELLFISH LIMITED
 

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

4.


Tangible fixed assets





Heritable property
Plant & machinery
Motor vehicles
Office equipment
Fishing boat

£
£
£
£
£



Cost or valuation


At 1 January 2023
255,907
447,285
343,475
5,351
-


Additions
-
3,974
-
-
183,828



At 31 December 2023

255,907
451,259
343,475
5,351
183,828



Depreciation


At 1 January 2023
20,311
229,084
204,914
3,371
-


Charge for the year on owned assets
2,929
33,329
34,644
496
18,383



At 31 December 2023

23,240
262,413
239,558
3,867
18,383



Net book value



At 31 December 2023
232,667
188,846
103,917
1,484
165,445



At 31 December 2022
235,596
218,201
138,561
1,980
-

Total

£



Cost or valuation


At 1 January 2023
1,052,018


Additions
187,802



At 31 December 2023

1,239,820



Depreciation


At 1 January 2023
457,680


Charge for the year on owned assets
89,781



At 31 December 2023

547,461



Net book value



At 31 December 2023
692,359



At 31 December 2022
594,338

Page 6

 
EAST NEUK SHELLFISH LIMITED
 

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

5.


Debtors

2023
2022
£
£


Trade debtors
446,180
585,147

Other debtors
13,491
27,592

459,671
612,739



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
151,571
117,813

Trade creditors
170,951
220,248

Other loans
35,000
-

Accruals and deferred income
5,400
4,000

Other taxation and social security
18,574
20,940

Other creditors
12,576
1,850

Obligations under finance lease and hire purchase contracts
64,787
88,692

Bank loans
47,751
35,476

506,610
489,019


The following liabilities were secured:




Details of security provided:

The company granted a registration of charge in favour of Clydesdale Bank PLC over 64/64ths shares in MFV Bon Ami official number C20772 and in her appurtenances.                                                                 
The company granted a standard charge in favour of the Clydesdale Bank PLC over The Boat Shed, Virgin Square, St Monans, Fife recorded in the Land register of Scotland under title number FFE18309.
The company granted a floating charge in favour of the Clydesdale Bank PLC over its undertakings, assets and rights owned now or in the future.


7.


Creditors: Amounts falling due after more than one

2023
2022
£
£

Bank loans
85,946
52,269

Net obligations under finance leases and hire purchase contracts
72,171
136,948

158,117
189,217


Page 7

 
EAST NEUK SHELLFISH LIMITED
 

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

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary A share of £1.00
1
1
1 (2022 - 1) Ordinary B share of £1.00
1
1

2

2



Page 8