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REGISTERED NUMBER: SC125805 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EASDALE SEAFOODS LIMITED

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EASDALE SEAFOODS LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: Douglas Pritchard Hill
Linda Susan Hill
Richard Kenneth Duscherer Hill
Calum Duscherer Hill
Dawn Duscherer Singleton





SECRETARY: Linda Susan Hill





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC125805 (Scotland)





ACCOUNTANTS: R A Clement Associates
Chartered Accountants
Argyll Square
Oban
Argyll
PA34 4AZ

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 427,838 439,336
Investments 5 154,309 154,309
Investment property 6 1,120,505 905,454
1,702,652 1,499,099

CURRENT ASSETS
Stocks 15,851 18,496
Debtors 7 665,946 567,833
Cash at bank and in hand 1,690,047 1,500,843
2,371,844 2,087,172
CREDITORS
Amounts falling due within one year 8 299,916 111,689
NET CURRENT ASSETS 2,071,928 1,975,483
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,774,580

3,474,582

PROVISIONS FOR LIABILITIES 66,430 56,809
NET ASSETS 3,708,150 3,417,773

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 9 85,236 85,236
Other reserves 22,900 22,900
Retained earnings 3,580,014 3,289,637
SHAREHOLDERS' FUNDS 3,708,150 3,417,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

BALANCE SHEET - continued
31 December 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 11 September 2024 and were signed on its behalf by:





Linda Susan Hill - Director


EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Easdale Seafoods 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Factory - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Boats - 10% on reducing balance

Investment property
Investment properties are recorded at their revalued directors valuation.

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.

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.

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Government grants
Previously grants received in respect of capital expenditure were credited to a deferred income account and released to the profit and loss account over the expected useful lives of the assets for which funding was received in equal annual instalments. The company now accounts for grants using the performance method whereby grants are deferred to the extent performance milestones have not yet been reached. Otherwise grants are credited to the profit and loss account in the year they are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Factory machinery fittings
£    £    £   
COST
At 1 January 2023 441,874 181,868 40,566
Additions - - -
Disposals - - -
At 31 December 2023 441,874 181,868 40,566
DEPRECIATION
At 1 January 2023 403,677 165,869 39,409
Charge for year 22,094 3,200 231
Charge written back - - -
At 31 December 2023 425,771 169,069 39,640
NET BOOK VALUE
At 31 December 2023 16,103 12,799 926
At 31 December 2022 38,197 15,999 1,157

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Boats Totals
£    £    £   
COST
At 1 January 2023 150,740 531,938 1,346,986
Additions 87,495 - 87,495
Disposals (5,000 ) - (5,000 )
At 31 December 2023 233,235 531,938 1,429,481
DEPRECIATION
At 1 January 2023 71,400 227,295 907,650
Charge for year 41,422 30,464 97,411
Charge written back (3,418 ) - (3,418 )
At 31 December 2023 109,404 257,759 1,001,643
NET BOOK VALUE
At 31 December 2023 123,831 274,179 427,838
At 31 December 2022 79,340 304,643 439,336

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 154,309
NET BOOK VALUE
At 31 December 2023 154,309
At 31 December 2022 154,309


6. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2023 905,454
Additions 215,051
At 31 December 2023 1,120,505
NET BOOK VALUE
At 31 December 2023 1,120,505
At 31 December 2022 905,454

EASDALE SEAFOODS LIMITED (REGISTERED NUMBER: SC125805)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

6. INVESTMENT PROPERTY - continued

Investment properties are recorded at their revalued directors valuation.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 385,607 420,203
Other debtors 177,950 45,241
563,557 465,444

Amounts falling due after more than one year:
Other debtors 102,389 102,389

Aggregate amounts 665,946 567,833

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,735 12,422
Taxation and social security 166,236 60,336
Other creditors 58,945 38,931
299,916 111,689

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 85,236

10. RELATED PARTY DISCLOSURES

Two of the directors rent property from the company. This transaction is at arm's length and is at market rate.

11. ULTIMATE CONTROLLING PARTY

The directors, by virtue of their shareholdings are the ultimate controlling party.