Caithness Potato Exports Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC144509 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

Caithness Potato Exports Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G C Smillie

R J S Doig

I P Guindi

D A Guindi

M McDiarmid

SECRETARY:

G C Smillie

REGISTERED OFFICE:

26 York Place

Perth

Perthshire

PH2 8EH

REGISTERED NUMBER:

SC144509 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

4 Atholl Crescent

Perth

Perthshire

PH1 5NG

SOLICITORS:

McCash & Hunter LLP

25 South Methven Street

Perth

PH1 5ES

FIXED ASSETS

Tangible assets

2

19,711

8,762

CURRENT ASSETS

Debtors

633,388

543,218

Cash at bank

1,530,721

1,413,536

2,164,109

1,956,754

CREDITORS

Amounts falling due within one year

771,199

721,516

NET CURRENT ASSETS

1,392,910

1,235,238

TOTAL ASSETS LESS CURRENT LIABILITIES

1,412,621

1,244,000

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

1,412,619

1,243,998

SHAREHOLDERS' FUNDS

1,412,621

1,244,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 23 March 2016 and were signed on its behalf by:

R J S Doig - 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 April 2008).

Turnover

Turnover represents amounts invoiced for the sale of seed potatoes, 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.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

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 provided at the average rates that are expected to apply when the timing

differences reverse, based on current tax rates and laws.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

22,345

Additions

23,165

Disposals

(19,000

)

At 30 June 2015

26,510

DEPRECIATION

At 1 July 2014

13,583

Charge for year

6,126

Eliminated on disposal

(12,910

)

At 30 June 2015

6,799

NET BOOK VALUE

At 30 June 2015

19,711

At 30 June 2014

8,762

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

4.	ULTIMATE PARENT COMPANY

Caithness Potatoes Limited is regarded by the directors as being the company's ultimate parent company.

5.	ULTIMATE CONTROLLING PARTY