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REGISTERED NUMBER: SC251490 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Kallin Shellfish Limited

Kallin Shellfish Limited (Registered number: SC251490)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kallin Shellfish Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mr Hector Stewart
Mr Donald Stewart
Mr Donald John MacRae
Mr Duncan F MacRae





SECRETARY: Mr Hector Stewart





REGISTERED OFFICE: 8 Kallin
Grimsay
Lochmaddy
North Uist
HS6 5HY





REGISTERED NUMBER: SC251490 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Kallin Shellfish Limited (Registered number: SC251490)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 116,000 145,000
Tangible assets 5 963,370 1,086,063
1,079,370 1,231,063

CURRENT ASSETS
Stock 27,500 44,750
Debtors 6 155,015 192,318
Cash at bank and in hand 450,503 300,506
633,018 537,574
CREDITORS
Amounts falling due within one year 7 166,878 223,459
NET CURRENT ASSETS 466,140 314,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,545,510

1,545,178

CREDITORS
Amounts falling due after more than one
year

8

(313,799

)

(282,612

)

PROVISIONS FOR LIABILITIES 10 (117,363 ) (147,527 )

ACCRUALS AND DEFERRED INCOME 11 (19,510 ) (29,264 )
NET ASSETS 1,094,838 1,085,775

Kallin Shellfish Limited (Registered number: SC251490)

Balance Sheet - continued
31 March 2025

2025 2024
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Retained earnings 1,084,838 1,075,775
SHAREHOLDERS' FUNDS 1,094,838 1,085,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





Mr Hector Stewart - Director


Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Kallin Shellfish 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2003, 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.

Licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 2% on cost
Leasehold property - not provided
Boat - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Licences Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 120,000 290,000 410,000
AMORTISATION
At 1 April 2024 120,000 145,000 265,000
Amortisation for year - 29,000 29,000
At 31 March 2025 120,000 174,000 294,000
NET BOOK VALUE
At 31 March 2025 - 116,000 116,000
At 31 March 2024 - 145,000 145,000

Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Heritable Leasehold
property property Boat
£    £    £   
COST
At 1 April 2024 264,842 232,766 938,779
Additions - - -
At 31 March 2025 264,842 232,766 938,779
DEPRECIATION
At 1 April 2024 5,297 - 473,890
Charge for year 5,297 - 92,978
At 31 March 2025 10,594 - 566,868
NET BOOK VALUE
At 31 March 2025 254,248 232,766 371,911
At 31 March 2024 259,545 232,766 464,889

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 602,922 275,396 4,910 2,319,615
Additions - 3,700 - 3,700
At 31 March 2025 602,922 279,096 4,910 2,323,315
DEPRECIATION
At 1 April 2024 528,083 221,372 4,910 1,233,552
Charge for year 13,686 14,432 - 126,393
At 31 March 2025 541,769 235,804 4,910 1,359,945
NET BOOK VALUE
At 31 March 2025 61,153 43,292 - 963,370
At 31 March 2024 74,839 54,024 - 1,086,063

Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2024
and 31 March 2025 108,182
DEPRECIATION
At 1 April 2024 91,882
Charge for year 5,278
At 31 March 2025 97,160
NET BOOK VALUE
At 31 March 2025 11,022
At 31 March 2024 16,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 141,178 178,923
Other debtors 13,837 13,395
155,015 192,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 18,000 86,721
Hire purchase contracts 8,187 8,187
Trade creditors 37,690 39,645
Taxation and social security 70,046 51,572
Other creditors 32,955 37,334
166,878 223,459

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Bank loans 309,273 269,898
Hire purchase contracts 4,526 12,714
313,799 282,612

Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2025 2024
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 237,273 105,982

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 327,273 356,619

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 117,363 147,527

Deferred
tax
£   
Balance at 1 April 2024 147,527
Credit to Statement of Income and Retained Earnings during year (30,164 )
Balance at 31 March 2025 117,363

11. ACCRUALS AND DEFERRED INCOME
2025 2024
£    £   
Grant received 78,034 78,034
Released to profit and loss
account (58,524 ) (48,770 )
19,510 29,264

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
10,000 Ordinary £1 10,000 10,000

Kallin Shellfish Limited (Registered number: SC251490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

13. ULTIMATE CONTROLLING PARTY

The company is 100% controlled by the directors.