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REGISTERED NUMBER: SO301595 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Mia Jane W LLP

Mia Jane W LLP (Registered number: SO301595)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mia Jane W LLP

General Information
for the Year Ended 31 December 2022







DESIGNATED MEMBERS: Caley Fisheries Limited
Mr J B Duthie
Bronxi Fishing Ltd.
Westyfish Ltd.





REGISTERED OFFICE: Caley Fisheries Limited
1/3 Dalrymple Street
Fraserburgh
Aberdeenshire
AB43 9BH





REGISTERED NUMBER: SO301595 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Mia Jane W LLP (Registered number: SO301595)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 340,200 431,600
Tangible assets 5 778,630 243,784
1,118,830 675,384

CURRENT ASSETS
Debtors 6 162,509 116,039
Cash at bank - 1,576
162,509 117,615
CREDITORS
Amounts falling due within one year 7 779,593 141,090
NET CURRENT LIABILITIES (617,084 ) (23,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

501,746

651,909

CREDITORS
Amounts falling due after more than one
year

8

37,500

49,500
NET ASSETS ATTRIBUTABLE TO
MEMBERS

464,246

602,409

Mia Jane W LLP (Registered number: SO301595)

Balance Sheet - continued
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

138,163

MEMBERS' OTHER INTERESTS
Capital accounts 464,246 464,246
464,246 602,409

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 138,163
Members' other interests 464,246 464,246
Amounts due from members 6 (161,348 ) (99,329 )
302,898 503,080

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 2022.

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 17 November 2023 and were signed by:





Bronxi Fishing Ltd. - Designated member

Mia Jane W LLP (Registered number: SO301595)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Mia Jane W LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

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

The financial statements have been prepared in UK £ sterling.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Fishing licence are being amortised evenly over their estimated useful life of sixteen years.

Fishing quota are being amortised evenly over their estimated useful life of ten years.

The amortisation policy on the fishing licence was amended from 10% to 6.25% on 1st January 2022 to better reflect the expected useful life. The reduction in amortisation charge for the year as a result of the change was £12,600.

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 - 6.25% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Debtors and creditors receivable /payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2021 - 5 ) .

Mia Jane W LLP (Registered number: SO301595)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INTANGIBLE FIXED ASSETS
Fishing Fishing
licence quota Totals
£    £    £   
COST OR VALUATION
At 1 January 2022 398,000 84,000 482,000
Disposals (62,000 ) - (62,000 )
At 31 December 2022 336,000 84,000 420,000
AMORTISATION
At 1 January 2022 - 50,400 50,400
Amortisation for year 21,000 8,400 29,400
At 31 December 2022 21,000 58,800 79,800
NET BOOK VALUE
At 31 December 2022 315,000 25,200 340,200
At 31 December 2021 398,000 33,600 431,600

The fishing licence carrying value includes a revaluation element of £97,488 following revaluation of the licence in the 2021 financial year.


5. TANGIBLE FIXED ASSETS
Fishing Motor
vessel vehicles Totals
£    £    £   
COST
At 1 January 2022 772,775 31,836 804,611
Additions 820,000 - 820,000
Disposals (772,775 ) - (772,775 )
At 31 December 2022 820,000 31,836 851,836
DEPRECIATION
At 1 January 2022 530,775 30,052 560,827
Charge for year 42,708 446 43,154
Eliminated on disposal (530,775 ) - (530,775 )
At 31 December 2022 42,708 30,498 73,206
NET BOOK VALUE
At 31 December 2022 777,292 1,338 778,630
At 31 December 2021 242,000 1,784 243,784

Mia Jane W LLP (Registered number: SO301595)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts due from members 161,348 99,329
Other debtors - 10,175
VAT 1,161 1,315
Prepayments - 5,220
162,509 116,039

Amounts due from members represent the net combined balances of the members Current Accounts.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 174 -
Loans 15,000 18,000
Trade creditors 152,439 120,790
Agents balance 609,280 -
Accrued expenses 2,700 2,300
779,593 141,090

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Loans 37,500 49,500

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members will not seek to draw their capital balances unless there are sufficient reserves to satisfy all creditors as they fall due.