BAKKAFROST SCOTLAND LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +26.8%

  £186,950,000 → £237,114,000

  highest in 3 filed years

• Cash

  +41.5%

  £106,000 → £150,000

  highest in 4 filed years

• Net assets

  +736.2%

  £34,839,000 → £291,323,000

  highest in 4 filed years

• Employees

  -14.2%

  569 → 488

  lowest in 4 filed years

• Operating profit

  +68.4%

  -£19,003,000 → -£6,003,000

  highest in 3 filed years

• Profit before tax

  +33%

  -£35,542,000 → -£23,799,000

  highest in 4 filed years

• Wages

  -3.6%

  £22,146,000 → £21,359,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. BAKKAFROST SCOTLAND LIMITED 2022-06-06 → present
2. THE SCOTTISH SALMON COMPANY LIMITED 2010-09-29 → 2022-06-06
3. LIGHTHOUSE CALEDONIA LIMITED 2007-11-27 → 2010-09-29
4. PAN FISH SCOTLAND LIMITED 2004-01-06 → 2007-11-27
5. LIGHTHOUSE OF SCOTLAND LIMITED 1988-05-17 → 2004-01-06
6. MINATHORN LIMITED 1987-10-23 → 1988-05-17

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. The company meets its day to day working capital requirements through intercompany loans and participation in a cash pooling arrangement with its parent company, Bakkafrost P/F. Management information tools including budgets and cash flow forecasts are used to monitor and manage current and future liquidity. The company's current and future financial position has been reviewed by the directors. In addition, the parent company has provided a letter of support confirming that it will continue to provide such financial support as necessary and that it will not demand repayment of its loans until such time that the company has the ability and funds available to repay it. Following their review, the directors are confident that the financial resources available and support from group companies will provide sufficient headroom to meet the forecast cash requirements of the business.”

Group structure

1. BAKKAFROST SCOTLAND LIMITED · parent
   1. Bakkafrost Scotland Two Limited 100%

Significant events

• “On July 11 the Company announced a temporary, but extended, closure of its facilities at Marybank and Arnish in Stornoway, affecting around 80 jobs. This was due to minimal forecast harvesting activity over the following 18 months in the North region as a result of stocking timing and locations. The Company made this extremely difficult decision in order to futureproof the business and secure remaining staff across Scotland.”
• “Planning permission was granted during the year for a new fish farm off the west coast of Gigha, Argyll and Bute. The site has a license for 3,104 tonnes of maximum allowed biomass.”
• “The Company has an ongoing dispute with a supplier in relation to the uplift of a barge at Portree. At the time of signing the accounts a formal arbitration process has been entered into, the outcome of which is uncertain. As such the directors have not recognised an asset or liability in relation to the dispute.”
• “On 1 January 2024, the trade and assets of Bakkafrost UK Limited, a fellow group company, were hived across to Bakkafrost Scotland Limited at their book values in exchange for an intercompany balance.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.