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REGISTERED NUMBER: SO306596 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SHAULORA LLP

SHAULORA LLP (REGISTERED NUMBER: SO306596)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHAULORA LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DESIGNATED MEMBERS: Shaulora Fishing Company Limited
George West Limited
Caley Fisheries Limited





REGISTERED OFFICE: 1-3 Dalrymple Street
Fraserburgh
Aberdeenshire
AB43 9BH





REGISTERED NUMBER: SO306596 (Scotland)

SHAULORA LLP (REGISTERED NUMBER: SO306596)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 88,300
Tangible assets 6 1,262,429 1,381,179
1,262,429 1,469,479

CURRENT ASSETS
Debtors 7 367,775 299,038
Cash at bank 13,851 9,246
381,626 308,284
CREDITORS
Amounts falling due within one year 8 158,150 111,634
NET CURRENT ASSETS 223,476 196,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,485,905

1,666,129

CREDITORS
Amounts falling due after more than one
year

9

685,905

866,129
NET ASSETS ATTRIBUTABLE TO
MEMBERS

800,000

800,000

SHAULORA LLP (REGISTERED NUMBER: SO306596)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 800,000 800,000
800,000 800,000

TOTAL MEMBERS' INTERESTS
Members' other interests 800,000 800,000
Amounts due from members 7 (340,679 ) (287,953 )
459,321 512,047

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 2023.

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 18 June 2024 and were signed by:





Shaulora Fishing Company Limited - Designated member

SHAULORA LLP (REGISTERED NUMBER: SO306596)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Shaulora 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.

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

Going Concern
At the time of approving the financial statements, the members have a reasonable expectation that the company 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.

Significant judgements and estimates
In the application of the company'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.

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
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 and quota are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 6.25% on cost

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.

SHAULORA LLP (REGISTERED NUMBER: SO306596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

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

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 441,500
AMORTISATION
At 1 January 2023 353,200
Charge for year 88,300
At 31 December 2023 441,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 88,300

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,833,616
Disposals (2,995 )
At 31 December 2023 1,830,621
DEPRECIATION
At 1 January 2023 452,437
Charge for year 116,738
Eliminated on disposal (983 )
At 31 December 2023 568,192
NET BOOK VALUE
At 31 December 2023 1,262,429
At 31 December 2022 1,381,179

SHAULORA LLP (REGISTERED NUMBER: SO306596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,096 11,048
Other debtors 360,679 287,990
367,775 299,038

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 129,648 90,848
Trade creditors 6,214 1,636
Other creditors 22,288 19,150
158,150 111,634

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 566,843 733,583
Other creditors 119,062 132,546
685,905 866,129

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 70,239 381,956

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 696,491 824,431

The bank holds a bond and floating charge over the assets of the business.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Shaulora Fishing Company Limited.