Caladero Scotland Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC315033 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

CALADERO SCOTLAND LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Faulkner

M J R Garrocho

D R Infantes

REGISTERED OFFICE:

19 Wellington Square

Ayr

KA7 1EZ

REGISTERED NUMBER:

SC315033 (Scotland)

AUDITORS:

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St. Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

9,500

15,011

CURRENT ASSETS

Stocks

119,164

276,590

Debtors

5

95,309

167,463

Cash at bank and in hand

306,254

621,525

520,727

1,065,578

CREDITORS

Amounts falling due within one year

6

1,066,376

1,374,197

NET CURRENT LIABILITIES

(545,649

)

(308,619

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(536,149

)

(293,608

)

CAPITAL AND RESERVES

Called up share capital

639,058

639,058

Retained earnings

(1,175,207

)

(932,666

)

SHAREHOLDERS' FUNDS

(536,149

)

(293,608

)

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 23 December 2021 and were signed on its behalf by:

R Faulkner - Director

1.	STATUTORY INFORMATION

Caladero Scotland 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Going concern

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.

The directors are satisfied that the parent company will continue to provide support for the foreseeable future. The financial statements have therefore been prepared on the going concern basis.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost, over 5 years and over four and five years

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.

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 contributes to employee pension schemes. Contributions payable are charged to the profit and loss account in the period in which they are paid.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2019 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

302,586

DEPRECIATION

At 1 January 2020

287,575

Charge for year

5,511

At 31 December 2020

293,086

NET BOOK VALUE

At 31 December 2020

9,500

At 31 December 2019

15,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

64,056

136,364

Other debtors

31,253

31,099

95,309

167,463

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

68,413

107,239

Amounts owed to group undertakings

975,360

1,221,097

Taxation and social security

8,228

6,994

Other creditors

14,375

38,867

1,066,376

1,374,197

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

George Macshannon (Senior Statutory Auditor)

for and on behalf of McLay, McAlister & McGibbon LLP

8.	RELATED PARTY DISCLOSURES

Sales of £796,436 (2019: £2,885,050) were made to the parent company Distribuidora Mariscos Rodriguez SA. A balance of £975,360 (2019: £1,221,097) was owed to this company at the balance sheet date and is included in creditors.

9.	POST BALANCE SHEET EVENTS

Following the year end, the COVID-19 pandemic has continued to affect the company's operations. This represents a non-adjusting subsequent event which is likely to have an adverse impact on the company's revenues for the year to 31 December 2021.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Distribuidora Mariscos Rodriguez SA, a company incorporated in Spain and having its registered office at Calle Barca S/N, 21810 Palos de la Frontera, Huelva, Spain, which owns 100% of the share capital and is the ultimate controlling party.