Linnadield Fishing Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC445528 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Linnadield Fishing Company Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Henderson

Mrs W J Henderson

SECRETARY:

REGISTERED OFFICE:

Linnadield

Cullivoe

Yell

Shetland

ZE2 9DD

REGISTERED NUMBER:

SC445528 (Scotland)

ACCOUNTANTS:

Jim Clark Accountancy Ltd

6 West Hillcrest

Upper Sound

Lerwick

Shetland

ZE1 0JZ

FIXED ASSETS

Tangible assets

4

655

-

CURRENT ASSETS

Debtors

5

2,577

2,508

Cash at bank

119,793

110,395

122,370

112,903

CREDITORS

Amounts falling due within one year

6

15,863

17,349

NET CURRENT ASSETS

106,507

95,554

TOTAL ASSETS LESS CURRENT LIABILITIES

107,162

95,554

PROVISIONS FOR LIABILITIES

124

-

NET ASSETS

107,038

95,554

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

107,028

95,544

SHAREHOLDERS' FUNDS

107,038

95,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 5 October 2019 and were signed on its behalf by:

M J Henderson - Director

1.	STATUTORY INFORMATION

Linnadield Fishing Company 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

874

At 31 March 2019

874

DEPRECIATION

Charge for year

219

At 31 March 2019

219

NET BOOK VALUE

At 31 March 2019

655

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

2,047

2,508

Other debtors

530

-

2,577

2,508

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Taxation and social security

14,567

16,137

Other creditors

1,296

1,212

15,863

17,349