REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Pleiades BF 155 LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Pleiades BF 155 LLP |
Pleiades BF 155 LLP (Registered number: SO300195) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Pleiades BF 155 LLP |
General Information |
for the Year Ended 31 December 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
2 Cross Street |
Fraserburgh |
Aberdeenshire |
AB43 9EQ |
Pleiades BF 155 LLP (Registered number: SO300195) |
Report of the Members |
for the Year Ended 31 December 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 December 2023. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £22,554 (2022 - £18,658 profit). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
Pleiades BF 155 LLP (Registered number: SO300195) |
Income Statement |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(20,654 | ) | 20,682 |
Other operating income |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Interest payable and similar expenses | 5 |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
Pleiades BF 155 LLP (Registered number: SO300195) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Fishing licence & quota | 6 |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
11 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
25,687 |
96,945 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 25,687 | 96,945 |
25,687 | 96,945 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 25,687 | 96,945 |
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. |
Pleiades BF 155 LLP (Registered number: SO300195) |
Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
- Designated member |
Pleiades BF 155 LLP (Registered number: SO300195) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Pleiades BF 155 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 |
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. |
Fishing licence & quota |
Fishing licence and quota are valued at cost less accumulated amortisation.Amortisation is calculated to write off the cost in equal instalments over their estimated useful lives of 20 years. |
Cherished number plate |
The cherished number plate is reported at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal instalments over the estimated useful lives of the asset of 10 years. |
Tangible fixed assets |
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life. |
Fishing Vessel 6.25% on cost |
Stores 4% on cost |
Gear and equipment 20% 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. |
Fixed asset investments |
The fixed asset investment is reported at cost as there is no practical means to value the specific investment without undue cost and effort. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2022 - operating profit) is stated after charging: |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
Fishing licence & quota amortisation |
Cherished number plate amortisation |
Pleiades BF 155 LLP (Registered number: SO300195) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.12.23 | 31.12.22 |
£ | £ |
Bank interest |
Bank loan interest |
6. | INTANGIBLE FIXED ASSETS |
Fishing | Cherished |
licence & | number |
quota | plate | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Amortisation for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
7. | TANGIBLE FIXED ASSETS |
Fishing | Gear & |
Store | vessel | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Pleiades BF 155 LLP (Registered number: SO300195) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The Fixed Asset investment was previously reported at original cost. The company in which the investment was made went into liquidation in May 2023 and after due consideration, the balance was written off in full. |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other debtors |
VAT |
Prepayments |
The balance of 'Other debtors' of £45,118 comprises funds that were held on behalf of the LLP by fishing vessel agents, Fraserburgh Inshore Fishermen Ltd. This company went into liquidation in May 2023 and, as at the date of completion of these financial statements it was uncertain if any of the amount owed would be recovered.A full provision for the balance has been put in place. |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Agent's balance | 35,033 | - |
Accrued expenses |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Provision for bad debt |