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REGISTERED NUMBER: SC152347 (Scotland)




















Salmon Scotland Ltd

Financial Statements

for the Year Ended 31 December 2023






Salmon Scotland Ltd (Registered number: SC152347)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Salmon Scotland Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J V D Berg
C I Blair
J Gallagher
B J Hadfield
S S Maguire
B S Wilson
A S Duncan
S Graham
Dr J Deverill





REGISTERED OFFICE: 3rd Floor Venue Studio
21 Calton Road
Edinburgh
EH8 8DL





REGISTERED NUMBER: SC152347 (Scotland)





AUDITORS: The A9 Partnership Limited
47 Commercial Road
Lerwick
Shetland Isles
ZE1 0NJ

Salmon Scotland Ltd (Registered number: SC152347)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,109 102,057

CURRENT ASSETS
Debtors 5 221,012 428,171
Cash at bank 205,365 182,653
426,377 610,824
CREDITORS
Amounts falling due within one year 6 353,942 558,547
NET CURRENT ASSETS 72,435 52,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,544

154,334

PROVISIONS FOR LIABILITIES - 4,852
NET ASSETS 180,544 149,482

RESERVES
Income and expenditure account 180,544 149,482
180,544 149,482

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 2 May 2024 and were signed on its behalf by:





A S Duncan - Director


Salmon Scotland Ltd (Registered number: SC152347)

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

1. STATUTORY INFORMATION

Salmon Scotland Ltd is a private company, limited by guarantee , 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover comprises the fair value of representation of members interests with industry leaders governing bodies.

The income is recognised in the financial statement in the period that that the membership relates to.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost
Plant and machinery etc - 20% on cost and 20% on reducing balance

Financial instruments
The company has elected to apply the provisions of section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of it's financial instruments.

Financial instruments are recognised in the company's balance sheet 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 new basis or to realise the asset and settle the liability simultaneously.


Salmon Scotland Ltd (Registered number: SC152347)

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

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Salmon Scotland Ltd (Registered number: SC152347)

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

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment or loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 67,637 99,170 166,807
Additions - 23,660 23,660
Disposals - (14,739 ) (14,739 )
At 31 December 2023 67,637 108,091 175,728
DEPRECIATION
At 1 January 2023 10,146 54,604 64,750
Charge for year 3,381 11,328 14,709
Eliminated on disposal - (11,840 ) (11,840 )
At 31 December 2023 13,527 54,092 67,619
NET BOOK VALUE
At 31 December 2023 54,110 53,999 108,109
At 31 December 2022 57,491 44,566 102,057

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,818 243,136
Other debtors 217,194 185,035
221,012 428,171

Salmon Scotland Ltd (Registered number: SC152347)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 63,936 39,931
Taxation and social security 115,801 145,614
Other creditors 174,205 373,002
353,942 558,547

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 83,160 55,707
Between one and five years 62,970 2,400
In more than five years - 400
146,130 58,507

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Jayne Anderson (Senior Statutory Auditor)
for and on behalf of The A9 Partnership Limited

9. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company has granted a bond and floating charge over all assets of the company in favour of The Royal Bank of Scotland Group for any sums that may become due to the bank.