Gairloch Sea Foods Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC044569 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Gairloch Sea Foods Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C A Bohorquez

J A L Sanz

E S Garmendia

SECRETARY:

HMS Secretaries Limited

REGISTERED OFFICE:

Alder House

Cradlehall Business Park

Inverness

IV2 5GH

REGISTERED NUMBER:

SC044569 (Scotland)

ACCOUNTANTS:

Scott-Moncrieff

10 Ardross Street

Inverness

IV3 5NS

CURRENT ASSETS

Debtors

37,279

39,555

Cash at bank

3,985

658

41,264

40,213

CREDITORS

Amounts falling due within one year

4,198

2,401

NET CURRENT ASSETS

37,066

37,812

TOTAL ASSETS LESS CURRENT LIABILITIES

37,066

37,812

CAPITAL AND RESERVES

Called up share capital

2

10,400

Share premium

347,737

Profit and loss account

(321,071

)

(320,325

)

SHAREHOLDERS' FUNDS

37,066

37,812

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 22 September 2016 and were signed on its behalf by:

C A Bohorquez - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents commission received excluding VAT.

Deferred tax

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

date.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

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 the profit and loss account on a straight line basis over the period of the

lease.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

10,400

Ordinary Shares

1

10,400

3.	ULTIMATE CONTROLLING PARTY

The issued share capital of the company is held by Icelandic Seas EHF, a company based in Iceland. This company is

considered the ultimate controlling party.