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REGISTERED NUMBER: SC141526 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Shetland Freezer Holdings Limited

Shetland Freezer Holdings Limited (Registered number: SC141526)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Shetland Freezer Holdings Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs E J Jamieson
J R Jamieson



SECRETARY: Mrs E J Jamieson



REGISTERED OFFICE: Auriga Park Road
Sandwick
Shetland
ZE2 9HP



REGISTERED NUMBER: SC141526 (Scotland)



ACCOUNTANTS: Victor T Fraser & Co Limited
Chartered Accountants
3-4 Market Place
Wick
Caithness
KW1 4LP



BANKERS: Clydesdale Bank plc
106 Commercial Street
Lerwick
Shetland



SOLICITORS: Harper Macleod LLP
St Olaf's Hall
Church Road
Lerwick
Shetland
ZE1 0FD

Shetland Freezer Holdings Limited (Registered number: SC141526)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 252,173 252,173
Investments 6 111,057 111,057
363,230 363,230

CURRENT ASSETS
Debtors 23,207 23,207
Cash at bank 422 1,346
23,629 24,553
CREDITORS
Amounts falling due within one year 136,313 135,821
NET CURRENT LIABILITIES (112,684 ) (111,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,546

251,962

CREDITORS
Amounts falling due after more than one year 2,934 2,934
NET ASSETS 247,612 249,028

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 246,612 248,028
SHAREHOLDERS' FUNDS 247,612 249,028

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

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

Shetland Freezer Holdings Limited (Registered number: SC141526)

Abridged Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 January 2025 and were signed on its behalf by:





Mrs E J Jamieson - Director


Shetland Freezer Holdings Limited (Registered number: SC141526)

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


1. STATUTORY INFORMATION

Shetland Freezer Holdings 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1994, is being amortised evenly over its estimated useful life of twenty 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.

Land and buildings Not Depreciated

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

Shetland Freezer Holdings Limited (Registered number: SC141526)

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


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 257,943
AMORTISATION
At 1 February 2023
and 31 January 2024 257,943
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 252,173
NET BOOK VALUE
At 31 January 2024 252,173
At 31 January 2023 252,173

Included in cost of land and buildings is freehold land of £ 252,173 (2023 - £ 252,173 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023
and 31 January 2024 111,057
NET BOOK VALUE
At 31 January 2024 111,057
At 31 January 2023 111,057

Shetland Freezer Holdings Limited (Registered number: SC141526)

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


7. RELATED PARTY DISCLOSURES

During the year rent amounting to £nil (2023 - £nil) was received from a subsidiary, Shetland Freezer and Food Centre Limited.

The balance owed to the subsidiary, Shetland Freezer and Food Centre Limited as at 31 January 2024 amounted to £128,482 (2023 £128,482).

The amounts outstanding at the financial year end in respect of loans from the Directors to the company was £2,934 (2023 - £2,934). These loans which are interest free and have no fixed repayment date are jointly held by Mr and Mrs Jamieson.