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REGISTERED NUMBER: SC479093 (Scotland)




















Tobermory Oysters Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Tobermory Oysters Limited (Registered number: SC479093)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tobermory Oysters Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G J Munro
S Munro



REGISTERED OFFICE: 9 Fenton Barns Cottages
Drem
North Berwick
East Lothian
EH39 5BW



REGISTERED NUMBER: SC479093 (Scotland)



ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX



BANKERS: TSB
41 High Street
North Berwick
East Lothian
EH39 4HH

Tobermory Oysters Limited (Registered number: SC479093)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,833 25,793

CURRENT ASSETS
Stocks 14,500 10,799
Debtors 5 467 726
Cash at bank 581 5,916
15,548 17,441
CREDITORS
Amounts falling due within one year 6 160,292 155,351
NET CURRENT LIABILITIES (144,744 ) (137,910 )
TOTAL ASSETS LESS CURRENT LIABILITIES (129,911 ) (112,117 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (130,011 ) (112,217 )
SHAREHOLDERS' FUNDS (129,911 ) (112,117 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Tobermory Oysters Limited (Registered number: SC479093)

Balance Sheet - continued
30 June 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 28 February 2025 and were signed on its behalf by:





G J Munro - Director


Tobermory Oysters Limited (Registered number: SC479093)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Tobermory Oysters 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 represents the fair value of the sale of oysters. Revenue is recognised when the company
has provided the oysters to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost and 20% on cost

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
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.


Tobermory Oysters Limited (Registered number: SC479093)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Going concern
The accounts have been prepared under the going concern principle. The directors have confirmed that they will continue to support the company and that they will not request repayment of their loans to the company until the company has funds available.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Tobermory Oysters Limited (Registered number: SC479093)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 4,400 62,153 66,553
DEPRECIATION
At 1 July 2023 3,220 37,540 40,760
Charge for year 440 10,520 10,960
At 30 June 2024 3,660 48,060 51,720
NET BOOK VALUE
At 30 June 2024 740 14,093 14,833
At 30 June 2023 1,180 24,613 25,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 467 726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 163 32
Other creditors 160,129 155,319
160,292 155,351