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REGISTERED NUMBER: SO301078 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

EVENING STAR FR LLP

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EVENING STAR FR LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DESIGNATED MEMBERS: G & Y Buchan Ltd





REGISTERED OFFICE: c/o Westward Fishing Co
141 Shore Street
Fraserburgh
Aberdeenshire
AB43 9BP





REGISTERED NUMBER: SO301078 (Scotland)

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 100,000 100,000
Tangible assets 6 457,668 503,937
557,668 603,937

CURRENT ASSETS
Debtors 7 35,986 13,701

CREDITORS
Amounts falling due within one year 8 64,376 41,426
NET CURRENT LIABILITIES (28,390 ) (27,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

529,278

576,212

CREDITORS
Amounts falling due after more than one year 9 40,000 45,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

489,278

531,212

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

BALANCE SHEET - continued
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

212,277

254,211

MEMBERS' OTHER INTERESTS
Capital accounts 277,001 277,001
489,278 531,212

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 212,277 254,211
Members' other interests 277,001 277,001
Amounts due from members 7 (32,132 ) -
457,146 531,212

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2021.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 August 2022 and were signed by:





G & Y Buchan Ltd - Designated member

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Evening Star FR LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Significant judgements and estimates
In the application of the limited liability partnership's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The members consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts receivable for the sale of fish and related products. This is recognised at point of settling and excludes value added tax.

Fishing licences and quota
Fishing licences and quota are presented at valuation. No amortisation has been provided for in the year as the members believe they have an indefinite useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fishing vessel - 5% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. ACCOUNTING POLICIES - continued

Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Taxation
No taxation has been provided in the accounts as taxation is a personal liability of the members.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

5. INTANGIBLE FIXED ASSETS
Fishing
licence &
quota
£   
COST
At 1 January 2021
and 31 December 2021 103,700
AMORTISATION
At 1 January 2021
and 31 December 2021 3,700
NET BOOK VALUE
At 31 December 2021 100,000
At 31 December 2020 100,000

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

6. TANGIBLE FIXED ASSETS
Fishing Plant and Motor
vessel machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2021
and 31 December 2021 771,895 205,810 20,187 997,892
DEPRECIATION
At 1 January 2021 292,153 188,425 13,377 493,955
Charge for year 41,089 3,475 1,705 46,269
At 31 December 2021 333,242 191,900 15,082 540,224
NET BOOK VALUE
At 31 December 2021 438,653 13,910 5,105 457,668
At 31 December 2020 479,742 17,385 6,810 503,937

Cost or valuation at 31 December 2021 is represented by:

Fishing Plant and Motor
vessel machinery vehicles Totals
£    £    £    £   
Valuation in 2013 163,195 - - 163,195
Cost 608,700 205,810 20,187 834,697
771,895 205,810 20,187 997,892

If the fishing vessel and gear had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 608,700 608,700
Aggregate depreciation 393,525 363,090

The fishing vessel and gear were valued on an open market basis on 30 September 2013 by Moray Firth Marine Surveys .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 3,854 5,068
Other debtors 32,132 8,633
35,986 13,701

EVENING STAR FR LLP (REGISTERED NUMBER: SO301078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 24,055 29,539
Hire purchase contracts - 591
Trade creditors 37,028 7,453
Taxation and social security 113 343
Other creditors 3,180 3,500
64,376 41,426

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 40,000 45,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank overdrafts 19,055 24,539
Bank loans 45,000 50,000
Hire purchase contracts - 591
64,055 75,130

The bank holds a bond and floating charge over the business assets and a ships mortgage over the fishing vessel.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.

12. RELATED PARTY DISCLOSURES

During the year, Smith Estates Peterhead Ltd received crew earnings of £nil (2020 - £nil) and G & Y Buchan Ltd of £22,132 (2020 - £29,600).

13. ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by the designated members who control the financial and operating activities of the limited liability partnership.