Company Registration No. SC266613 (Scotland)
Isle of Skye Mussel Company Limited
Unaudited accounts
for the year ended 30 April 2021
Isle of Skye Mussel Company Limited
Unaudited accounts
Contents
Isle of Skye Mussel Company Limited
Company Information
for the year ended 30 April 2021
Directors
Judith Brown
Andrew Airnes
Company Number
SC266613 (Scotland)
Registered Office
FLOATING FARM CROFT
3 GILLEAN
ACHNACLOICH
HIGHLAND
IV46 8SB
SCOTLAND
Isle of Skye Mussel Company Limited
Statement of financial position
as at
30 April 2021
Intangible assets
3,500
4,000
Tangible assets
34,440
6,241
Cash at bank and in hand
38,726
-
Creditors: amounts falling due within one year
(36,040)
-
Net current assets
2,686
-
Total assets less current liabilities
40,626
10,241
Creditors: amounts falling due after more than one year
(40,625)
-
Called up share capital
100
100
Profit and loss account
(99)
10,141
Shareholders' funds
1
10,241
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2021 and were signed on its behalf by
Judith Brown
Director
Company Registration No. SC266613
Isle of Skye Mussel Company Limited
Notes to the Accounts
for the year ended 30 April 2021
Isle of Skye Mussel Company Limited is a private company, limited by shares, registered in Scotland, registration number SC266613. The registered office is FLOATING FARM CROFT, 3 GILLEAN, ACHNACLOICH, HIGHLAND, IV46 8SB, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Accounts for year ended 30 April 2020 show an abnormal profit of £130,834 due to write off of Directors loan accounts of £134,104.
4
Intangible fixed assets
Goodwill
Isle of Skye Mussel Company Limited
Notes to the Accounts
for the year ended 30 April 2021
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2020
140,255
1,139
141,394
Additions
36,809
-
36,809
At 30 April 2021
177,064
1,139
178,203
At 1 May 2020
134,014
1,139
135,153
Charge for the year
8,610
-
8,610
At 30 April 2021
142,624
1,139
143,763
At 30 April 2021
34,440
-
34,440
At 30 April 2020
6,241
-
6,241
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
4,375
-
Loans from directors
900
-
7
Creditors: amounts falling due after more than one year
2021
2020
8
Average number of employees
During the year the average number of employees was 0 (2020: 0).