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REGISTERED NUMBER: SC478619 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

IAIN STEWART FISH SALES LTD

IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)






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


IAIN STEWART FISH SALES LTD

COMPANY INFORMATION
For The Year Ended 31 March 2025







DIRECTORS: Mrs J Stewart
I Stewart





REGISTERED OFFICE: Unit 5b 1/2 Blar Mhor Industrial Estate
Lochyside
FORT WILLIAM
Inverness-shire
PH33 7PT





REGISTERED NUMBER: SC478619 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,166 1,166
Tangible assets 5 336,643 186,561
337,809 187,727

CURRENT ASSETS
Stocks 3,400 2,300
Debtors 6 182,425 242,249
Cash at bank and in hand 471,712 340,602
657,537 585,151
CREDITORS
Amounts falling due within one year 7 217,822 233,308
NET CURRENT ASSETS 439,715 351,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

777,524

539,570

CREDITORS
Amounts falling due after more than one year 8 (123,851 ) (81,040 )

PROVISIONS FOR LIABILITIES (79,454 ) (40,991 )

ACCRUALS AND DEFERRED INCOME (10,397 ) (11,552 )
NET ASSETS 563,822 405,987

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 563,820 405,985
SHAREHOLDERS' FUNDS 563,822 405,987

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.

IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

BALANCE SHEET - continued
31 March 2025


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 4 June 2025 and were signed on its behalf by:





I Stewart - Director


IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025

1. STATUTORY INFORMATION

Iain Stewart Fish Sales 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 2014, is being amortised evenly over its estimated useful life of ten 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.

Cherished number plate are being amortised evenly over their estimated useful life of nil 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.
Improvements to property - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% 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.


IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Cherished
number
Goodwill plate Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 10,000 1,166 11,166
AMORTISATION
At 1 April 2024
and 31 March 2025 10,000 - 10,000
NET BOOK VALUE
At 31 March 2025 - 1,166 1,166
At 31 March 2024 - 1,166 1,166

IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2024 13,666 36,995 45,288 279,982 375,931
Additions - 21,439 23,485 205,383 250,307
At 31 March 2025 13,666 58,434 68,773 485,365 626,238
DEPRECIATION
At 1 April 2024 2,502 25,105 20,322 141,441 189,370
Charge for year 2,733 6,666 4,845 85,981 100,225
At 31 March 2025 5,235 31,771 25,167 227,422 289,595
NET BOOK VALUE
At 31 March 2025 8,431 26,663 43,606 257,943 336,643
At 31 March 2024 11,164 11,890 24,966 138,541 186,561

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2024 279,982
Additions 205,383
At 31 March 2025 485,365
DEPRECIATION
At 1 April 2024 141,441
Charge for year 85,981
At 31 March 2025 227,422
NET BOOK VALUE
At 31 March 2025 257,943
At 31 March 2024 138,541

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 152,879 217,489
Other debtors 29,546 24,760
182,425 242,249

IAIN STEWART FISH SALES LTD (REGISTERED NUMBER: SC478619)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 85,029 44,272
Trade creditors 73,727 106,268
Taxation and social security 36,999 65,764
Other creditors 12,067 7,004
217,822 233,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 1,667 11,667
Hire purchase contracts 122,184 69,373
123,851 81,040