REGISTERED NUMBER: SC125805 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EASDALE SEAFOODS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Douglas Pritchard Hill

Linda Susan Hill

Richard Kenneth Duscherer Hill

Calum Duscherer Hill

Dawn Duscherer Singleton

SECRETARY:

Linda Susan Hill

REGISTERED OFFICE:

R A Clement Associates

5 Argyll Square

OBAN

PA34 4AZ

REGISTERED NUMBER:

SC125805 (Scotland)

ACCOUNTANTS:

R A Clement Associates

Chartered Accountants

Argyll Square

Oban

Argyll

PA34 4AZ

FIXED ASSETS

Tangible assets

4

437,300

427,838

Investments

5

154,309

154,309

Investment property

6

1,120,505

1,120,505

1,712,114

1,702,652

CURRENT ASSETS

Stocks

17,229

15,851

Debtors

7

830,516

665,946

Cash at bank and in hand

1,399,301

1,690,047

2,247,046

2,371,844

CREDITORS

Amounts falling due within one year

8

177,013

299,916

NET CURRENT ASSETS

2,070,033

2,071,928

TOTAL ASSETS LESS CURRENT LIABILITIES

3,782,147

3,774,580

PROVISIONS FOR LIABILITIES

72,486

66,430

NET ASSETS

3,709,661

3,708,150

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Revaluation reserve

9

85,236

85,236

Other reserves

22,900

22,900

Retained earnings

3,581,525

3,580,014

SHAREHOLDERS' FUNDS

3,709,661

3,708,150

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

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

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 31 July 2025 and were signed on its behalf by:

Linda Susan Hill - Director

1.	STATUTORY INFORMATION

Easdale Seafoods 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Factory

-

5% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Boats

-

10% on reducing balance

Investment property

Investment properties are recorded at their revalued directors valuation.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Previously grants received in respect of capital expenditure were credited to a deferred income account and released to the profit and loss account over the expected useful lives of the assets for which funding was received in equal annual instalments. The company now accounts for grants using the performance method whereby grants are deferred to the extent performance milestones have not yet been reached. Otherwise grants are credited to the profit and loss account in the year they are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Factory

machinery

fittings

£

£

£

COST

At 1 January 2024

441,874

181,868

40,566

Additions

-

35,274

1,977

Disposals

-

-

-

At 31 December 2024

441,874

217,142

42,543

DEPRECIATION

At 1 January 2024

425,771

169,069

39,640

Charge for year

16,103

9,615

580

Eliminated on disposal

-

-

-

At 31 December 2024

441,874

178,684

40,220

NET BOOK VALUE

At 31 December 2024

-

38,458

2,323

At 31 December 2023

16,103

12,799

926

Motor

vehicles

Boats

Totals

£

£

£

COST

At 1 January 2024

233,235

531,938

1,429,481

Additions

113,958

-

151,209

Disposals

(83,670

)

-

(83,670

)

At 31 December 2024

263,523

531,938

1,497,020

DEPRECIATION

At 1 January 2024

109,404

257,759

1,001,643

Charge for year

49,706

27,418

103,422

Eliminated on disposal

(45,345

)

-

(45,345

)

At 31 December 2024

113,765

285,177

1,059,720

NET BOOK VALUE

At 31 December 2024

149,758

246,761

437,300

At 31 December 2023

123,831

274,179

427,838

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

154,309

NET BOOK VALUE

At 31 December 2024

154,309

At 31 December 2023

154,309

6.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2024

and 31 December 2024

1,120,505

NET BOOK VALUE

At 31 December 2024

1,120,505

At 31 December 2023

1,120,505

Investment properties are recorded at their revalued directors valuation.

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

439,675

385,607

Other debtors

288,452

177,950

728,127

563,557

Amounts falling due after more than one year:

Other debtors

102,389

102,389

Aggregate amounts

830,516

665,946

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

70,533

74,735

Taxation and social security

69,881

166,236

Other creditors

36,599

58,945

177,013

299,916

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

85,236

10.	RELATED PARTY DISCLOSURES

Two of the directors rent property from the company. This transaction is at arm's length and is at market rate.

11.	ULTIMATE CONTROLLING PARTY

The directors, by virtue of their shareholdings are the ultimate controlling party.