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REGISTERED NUMBER: SC282645 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LOCHLEVEN SEAFOOD CENTRE LIMITED

LOCHLEVEN SEAFOOD CENTRE LIMITED (REGISTERED NUMBER: SC282645)






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


LOCHLEVEN SEAFOOD CENTRE LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: John Grieve
Alison Grieve





SECRETARY: Alison Grieve





REGISTERED OFFICE: c/o Lochleven Shellfish (Scotland)
Lochleven
Onich
INVERNESS-SHIRE
PH33 6SA





REGISTERED NUMBER: SC282645 (Scotland)





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

LOCHLEVEN SEAFOOD CENTRE LIMITED (REGISTERED NUMBER: SC282645)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 142,523 150,421

CURRENT ASSETS
Stocks 6,800 4,200
Prepayments and accrued income - 1,512
Cash at bank and in hand 199,814 184,019
206,614 189,731
CREDITORS
Amounts falling due within one year 5 86,353 89,628
NET CURRENT ASSETS 120,261 100,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,784

250,524

PROVISIONS FOR LIABILITIES 6,134 7,680
NET ASSETS 256,650 242,844

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 256,644 242,838
SHAREHOLDERS' FUNDS 256,650 242,844

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.

LOCHLEVEN SEAFOOD CENTRE LIMITED (REGISTERED NUMBER: SC282645)

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 17 September 2024 and were signed on its behalf by:





Alison Grieve - Director


LOCHLEVEN SEAFOOD CENTRE LIMITED (REGISTERED NUMBER: SC282645)

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

1. STATUTORY INFORMATION

Lochleven Seafood Centre 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.
Short leasehold - 1% on cost
Improvements to property - 1% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

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.

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 12 (2022 - 12 ) .

LOCHLEVEN SEAFOOD CENTRE LIMITED (REGISTERED NUMBER: SC282645)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 93,088 42,427 108,176 24,594 268,285
DEPRECIATION
At 1 January 2023 15,687 2,120 86,214 13,843 117,864
Charge for year 931 424 4,393 2,150 7,898
At 31 December 2023 16,618 2,544 90,607 15,993 125,762
NET BOOK VALUE
At 31 December 2023 76,470 39,883 17,569 8,601 142,523
At 31 December 2022 77,401 40,307 21,962 10,751 150,421

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,984 345
Trade creditors 6,525 11,362
Taxation and social security 12,085 12,087
Other creditors 65,759 65,834
86,353 89,628