REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016 |
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SHAULORA FISHING COMPANY LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016 |
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FOR |
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SHAULORA FISHING COMPANY LIMITED |
SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
SHAULORA FISHING COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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ABBREVIATED BALANCE SHEET |
30 JUNE 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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Investments | 4 |
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CURRENT ASSETS |
Debtors |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Capital redemption reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2016 |
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The financial statements were approved by the Board of Directors on
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SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents amounts receivable for the sale of fish and related products. This is recognised at point of |
settling and excludes value added tax. |
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Fishing licences and quota |
Fishing licences and quota are valued at cost less accumulated amortisation. In accordance with the FRSSE the |
members have assessed the useful lives of these assets and believe that they would have a higher residual value at |
the end of 20 years than the current book value. The members have therefore decided that these assets should not |
be amortised in the financial statements. |
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Tangible fixed assets |
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Fishing vessel | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Deferred tax |
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
timing differences which result which is result in an obligation to pay more or (less tax) tax at a future date, at the |
average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and |
laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there |
is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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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 the profit and loss account in the period to which they relate. |
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Investments |
The company has a participating interest in a partnership, which is an associated undertaking. The financial |
statements include the company's share of partnership profits or losses to the last accounting date of the |
partnership. All drawings from the limited liability partnership are included in the financial statements. |
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Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss |
account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit |
and loss account as the related expenditure is incurred. |
SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
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Additions |
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Disposals | ( |
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At 30 June 2016 |
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AMORTISATION |
At 1 July 2015 |
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Eliminated on disposal | ( |
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At 30 June 2016 |
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NET BOOK VALUE |
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At 30 June 2016 |
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At 30 June 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
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Additions |
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Disposals | ( |
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At 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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4. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 July 2015 | 141,637 |
Additions | 6,590 |
Disposals | (13,949 | ) |
Share of profit/(loss) | (13,031 | ) |
At 30 June 2016 | 121,247 |
NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Associated companies |
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Country of incorporation: Scotland |
Nature of business:
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% |
Class of shares: | holding |
LLP | 81.25 |
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Country of incorporation: Scotland |
Nature of business:
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% |
Class of shares: | holding |
Ordinary | 100.00 |
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5. | CREDITORS |
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Creditors include the following debts falling due in more than five years: |
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2016 | 2015 |
£ | £ |
Repayable by instalments | 86,000 | 208,000 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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SHAULORA FISHING COMPANY LIMITED (REGISTERED NUMBER: SC165386) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2016 and |
30 June 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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