Thompson Bros Salmon Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC107810 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Thompson Bros Salmon Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R A Clark

K J Tulloch

J C F Wilson

SECRETARY:

J C F Wilson

REGISTERED OFFICE:

Shorebase

Sellafirth

Yell

Shetland

ZE2 9DQ

REGISTERED NUMBER:

SC107810 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

2

123,557

112,957

Investments

3

334,407

500,694

457,964

613,651

CURRENT ASSETS

Stocks

754,832

1,034,781

Debtors

118,044

25,217

Cash at bank

1,387,630

1,258,252

2,260,506

2,318,250

CREDITORS

Amounts falling due within one year

278,664

518,421

NET CURRENT ASSETS

1,981,842

1,799,829

TOTAL ASSETS LESS CURRENT LIABILITIES

2,439,806

2,413,480

PROVISIONS FOR LIABILITIES

7,872

3,949

NET ASSETS

2,431,934

2,409,531

CAPITAL AND RESERVES

Called up share capital

4

61,130

76,850

Revaluation reserve

78,153

61,729

Profit and loss account

2,292,651

2,270,952

SHAREHOLDERS' FUNDS

2,431,934

2,409,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 May 2015 and were signed on its behalf by:

J C F Wilson - Director

K J Tulloch - Director

R A Clark - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

at varying rates on cost

Boats

-

10% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

1,057,461

Additions

44,985

Disposals

(8,651

)

At 31 March 2015

1,093,795

DEPRECIATION

At 1 April 2014

944,504

Charge for year

32,222

Eliminated on disposal

(6,488

)

At 31 March 2015

970,238

NET BOOK VALUE

At 31 March 2015

123,557

At 31 March 2014

112,957

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 April 2014

500,694

Additions

67,288

Disposals

(250,000

)

Revaluations

16,425

At 31 March 2015

334,407

NET BOOK VALUE

At 31 March 2015

334,407

At 31 March 2014

500,694

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

61,130

Ordinary

£1

61,130

76,850

(31.3.14 - 76,850 )