REGISTERED NUMBER: SC068723 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Selcoth Fisheries Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O M Routledge

Mrs S Routledge

REGISTERED OFFICE:

Selcoth

Moffat

Dumfriesshire

DG10 9LG

REGISTERED NUMBER:

SC068723 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Tangible assets

4

196,543

193,969

CURRENT ASSETS

Stocks

74,200

323,763

Debtors

5

37,299

167,361

Cash at bank and in hand

24,182

158,966

135,681

650,090

CREDITORS

Amounts falling due within one year

6

274,476

508,470

NET CURRENT (LIABILITIES)/ASSETS

(138,795

)

141,620

TOTAL ASSETS LESS CURRENT LIABILITIES

57,748

335,589

CREDITORS

Amounts falling due after more than one year

7

(189,274

)

(309,332

)

PROVISIONS FOR LIABILITIES

(32,500

)

(31,000

)

NET LIABILITIES

(164,026

)

(4,743

)

CAPITAL AND RESERVES

Called up share capital

51

51

Capital redemption reserve

(101,951

)

(101,951

)

Retained earnings

(62,126

)

97,157

SHAREHOLDERS' FUNDS

(164,026

)

(4,743

)

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 30 September 2025 and were signed on its behalf by:

O M Routledge - Director

1.	STATUTORY INFORMATION

Selcoth Fisheries 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.

Improvements to property

-

15% on cost

Plant and machinery

-

Straight line over 5 years

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

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

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 2 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

26,958

276,840

1,092,071

Additions

-

890

109,080

Disposals

-

-

-

At 31 December 2024

26,958

277,730

1,201,151

DEPRECIATION

At 1 January 2024

-

251,649

988,732

Charge for year

-

11,433

85,129

Eliminated on disposal

-

-

-

At 31 December 2024

-

263,082

1,073,861

NET BOOK VALUE

At 31 December 2024

26,958

14,648

127,290

At 31 December 2023

26,958

25,191

103,339

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

84,207

3,516

1,483,592

Additions

41,043

-

151,013

Disposals

(73,590

)

-

(73,590

)

At 31 December 2024

51,660

3,516

1,561,015

DEPRECIATION

At 1 January 2024

46,306

2,936

1,289,623

Charge for year

14,319

145

111,026

Eliminated on disposal

(36,177

)

-

(36,177

)

At 31 December 2024

24,448

3,081

1,364,472

NET BOOK VALUE

At 31 December 2024

27,212

435

196,543

At 31 December 2023

37,901

580

193,969

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

35,070

159,924

VAT

-

827

Prepayments

2,229

6,610

37,299

167,361

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

37,146

48,903

Hire purchase contracts

9,922

10,050

Trade creditors

40,016

309,278

Amounts owed to participating interests

75,000

-

Social security and other taxes

7,621

8,821

VAT

10,194

-

Directors' current accounts

88,236

55,489

Accrued expenses

6,341

73,535

Deferred grants

-

2,394

274,476

508,470

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

28,055

48,903

Bank loans - 2-5 years

70,530

110,344

Other loans more 5yrs instal

72,715

125,098

Hire purchase contracts

17,974

24,987

189,274

309,332

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

72,715

125,098

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr O & Mrs S Routledge by virtue of their 100% shareholding.