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REGISTERED NUMBER: SC442632 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

JPL SHELLFISH (SCOTLAND) LTD

JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JPL SHELLFISH (SCOTLAND) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: J P Logue
Mrs C E Logue





REGISTERED OFFICE: Unit 1 Seafood Park
Scrabster Harbour
Thurso
KW14 7UJ





REGISTERED NUMBER: SC442632 (Scotland)





ACCOUNTANTS: Goldwells Ltd
10 Knockbreck Street
Tain
Ross-Shire
IV19 1BJ

JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,600 1,600
Tangible assets 5 155,468 165,754
157,068 167,354

CURRENT ASSETS
Stocks 2,250 2,250
Debtors 6 310,744 400,957
Investments 7 100,000 -
Cash at bank and in hand 115,622 217,655
528,616 620,862
CREDITORS
Amounts falling due within one year 8 92,070 156,504
NET CURRENT ASSETS 436,546 464,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

593,614

631,712

PROVISIONS FOR LIABILITIES 4,159 -
NET ASSETS 589,455 631,712

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 589,355 631,612
589,455 631,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)

BALANCE SHEET - continued
31ST MARCH 2024


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 24th September 2024 and were signed on its behalf by:




Mrs C E Logue - Director



J P Logue - Director


JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

JPL Shellfish (Scotland) Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 101,600
AMORTISATION
At 1st April 2023
and 31st March 2024 100,000
NET BOOK VALUE
At 31st March 2024 1,600
At 31st March 2023 1,600

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 61,723 403,465 465,188
Additions - 23,064 23,064
Disposals - (24,004 ) (24,004 )
At 31st March 2024 61,723 402,525 464,248
DEPRECIATION
At 1st April 2023 - 299,434 299,434
Charge for year - 26,654 26,654
Eliminated on disposal - (17,308 ) (17,308 )
At 31st March 2024 - 308,780 308,780
NET BOOK VALUE
At 31st March 2024 61,723 93,745 155,468
At 31st March 2023 61,723 104,031 165,754

JPL SHELLFISH (SCOTLAND) LTD (REGISTERED NUMBER: SC442632)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 127,570 164,954
Other debtors 178,174 231,003
305,744 395,957

Amounts falling due after more than one year:
Other debtors 5,000 5,000

Aggregate amounts 310,744 400,957

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 100,000 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 35,750
Trade creditors 64,433 58,395
Taxation and social security 21,810 27,037
Other creditors 5,827 35,322
92,070 156,504

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31st March 2024 and the period ended 31st March 2023:

2024 2023
£    £   
J P Logue
Balance outstanding at start of year 106,547 63,440
Amounts advanced 84,867 106,547
Amounts repaid (106,547 ) (63,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,867 106,547

Mrs C E Logue
Balance outstanding at start of year 106,547 63,440
Amounts advanced 84,867 106,547
Amounts repaid (106,547 ) (63,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,867 106,547