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REGISTERED NUMBER: SC351074 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Moidart Capital Limited

Moidart Capital Limited (Registered number: SC351074)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Moidart Capital Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D Stewart Howitt





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
Lothian
EH7 4HG





REGISTERED NUMBER: SC351074 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Moidart Capital Limited (Registered number: SC351074)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132,346 152,080
Investments 5 43,869 26,471
176,215 178,551

CURRENT ASSETS
Stocks 700 -
Debtors 6 123,784 106,190
Cash at bank 3,309 13,093
127,793 119,283
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

166,860

182,092
NET CURRENT LIABILITIES (39,067 ) (62,809 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,148

115,742

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(16,052

)

(6,138

)

PROVISIONS FOR LIABILITIES 9 (25,146 ) (27,873 )
NET ASSETS 95,950 81,731

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 95,949 81,730
SHAREHOLDERS' FUNDS 95,950 81,731

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2024 and were signed by:





D Stewart Howitt - Director


Moidart Capital Limited (Registered number: SC351074)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Moidart Capital 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.

Going concern
The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the director's and creditors.

Turnover
Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Other operating income is derived from investment income, which is recognised upon the right to consideration.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Freehold Property - 2% on cost
Fixtures & Fittings- 20% on cost
Computer Equipment- 20% on cost
Plant & Machinery - 20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price including transaction costs, except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value.

Financial assets are derecognised when and only when contractual rights to the cash flows from the financial asset expire or are settled or the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Moidart Capital Limited (Registered number: SC351074)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Investments
Investments in associates are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 63,349 130,393 (9,000 ) 396 185,138
Additions - 5,670 - - 5,670
Reclassification/transfer - - 10,000 - 10,000
At 31 March 2024 63,349 136,063 1,000 396 200,808
DEPRECIATION
At 1 April 2023 2,267 39,395 (9,000 ) 396 33,058
Charge for year 1,267 24,137 - - 25,404
Reclassification/transfer - - 10,000 - 10,000
At 31 March 2024 3,534 63,532 1,000 396 68,462
NET BOOK VALUE
At 31 March 2024 59,815 72,531 - - 132,346
At 31 March 2023 61,082 90,998 - - 152,080

Moidart Capital Limited (Registered number: SC351074)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 26,471
Additions 17,398
At 31 March 2024 43,869
NET BOOK VALUE
At 31 March 2024 43,869
At 31 March 2023 26,471

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,733 3,733
Other debtors 120,051 102,457
123,784 106,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,094 1,122
Taxation and social security 6,606 -
Other creditors 158,160 180,970
166,860 182,092

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 16,052 6,138

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 25,146 27,873

Deferred
tax
£   
Balance at 1 April 2023 27,873
Provided during year (2,727 )
Balance at 31 March 2024 25,146

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

Moidart Capital Limited (Registered number: SC351074)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 March 2024 the company owed the director £100,392 (2023: £89,390).

12. RELATED PARTY DISCLOSURES




Movement in
the year ended

Movement in
the year ended
Balance receivable from
/ (payable to) related
party as at
Balance receivable
from / (payable to)
related party as at
31.3.24 31.3.23 31.3.24 31.3.23

£ £ £ £
Related Party (1)
Loan balance - 10,465 21,130 21,130

Share of Profit 43,672 44,215 - -

Consultancy fees 4,500 6,000 - -

Related Party (2)

Loan 8,624 41,435 81,713 73,089

Investment - - 26,471 26,471

Related Party (3)

Loan 13,000 7,200 20,200 7,200

Loaned assets - 71,250 - -

Related Party (4)

Loan 799 - 799 -

Related Party (5)

Investment 17,398 - 17,938 -



Moidart Capital Limited is a member of Related Party (1).

Moidart Capital Limited is a shareholder of Related Party (2).

A director of Moidart Capital Limited is also a director of Related Party (3).

A director of Moidart Capital Limited is also a director of Related Party (4).

A director of Moidart Capital Limited is also a director of Related Party (5).

13. ULTIMATE CONTROLLING PARTY

The controlling party is D Stewart Howitt.

14. CONTINGENT ASSET

During the year ended 31st March 2023, a share warrant of 285,002 shares was granted to Moidart Capital Limited in exchange for a lease of plant and machinery equipment to Atlantic Mariculture Limited. The warrant has a vesting period of three years and if exercised will result in a total investment in Atlantic Mariculture Ltd of £71,250. Upon the take up of the shares, income of £71,250 will be recognised.