Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SO300236 Caley Fisheries Limited D & R Watt Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO300236 2022-12-31 SO300236 2023-12-31 SO300236 2023-01-01 2023-12-31 SO300236 frs-core:CurrentFinancialInstruments 2023-12-31 SO300236 frs-core:Non-currentFinancialInstruments 2023-12-31 SO300236 frs-core:BetweenOneFiveYears 2023-12-31 SO300236 frs-core:ComputerEquipment 2023-12-31 SO300236 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SO300236 frs-core:ComputerEquipment 2022-12-31 SO300236 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 SO300236 frs-core:FurnitureFittings 2023-12-31 SO300236 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SO300236 frs-core:FurnitureFittings 2022-12-31 SO300236 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 SO300236 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SO300236 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 SO300236 frs-core:MotorVehicles 2023-12-31 SO300236 frs-core:MotorVehicles 2023-01-01 2023-12-31 SO300236 frs-core:MotorVehicles 2022-12-31 SO300236 frs-core:OtherResidualIntangibleAssets 2023-12-31 SO300236 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 SO300236 frs-core:OtherResidualIntangibleAssets 2022-12-31 SO300236 frs-core:WithinOneYear 2023-12-31 SO300236 frs-bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 SO300236 frs-bus:LimitedLiabilityPartnershipsSORP 2023-01-01 2023-12-31 SO300236 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SO300236 frs-bus:SmallEntities 2023-01-01 2023-12-31 SO300236 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SO300236 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SO300236 frs-countries:Scotland 2023-01-01 2023-12-31 SO300236 frs-bus:PartnerLLP1 2023-01-01 2023-12-31 SO300236 frs-bus:PartnerLLP2 2023-01-01 2023-12-31 SO300236 2021-12-31 SO300236 2022-12-31 SO300236 2022-01-01 2022-12-31 SO300236 frs-core:CurrentFinancialInstruments 2022-12-31 SO300236 frs-core:Non-currentFinancialInstruments 2022-12-31 SO300236 frs-core:BetweenOneFiveYears 2022-12-31 SO300236 frs-core:WithinOneYear 2022-12-31
Registered number: SO300236
Excel BF 110 LLP
Unaudited Financial Statements
For The Year Ended 31 December 2023
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SO300236
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 529,320 505,000
Tangible Assets 5 2,496,475 1,620,389
3,025,795 2,125,389
CURRENT ASSETS
Debtors 6 14,159 1,450
Cash at bank and in hand 37,685 5,747
51,844 7,197
Creditors: Amounts Falling Due Within One Year 7 (168,166 ) (1,350,013 )
NET CURRENT ASSETS (LIABILITIES) (116,322 ) (1,342,816 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,909,473 782,573
Creditors: Amounts Falling Due After More Than One Year 8 (1,686,763 ) (10,705 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,222,710 771,868
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 704,556 253,714
704,556 253,714
Equity
Members' other interests
Members' capital 518,154 518,154
518,154 518,154
1,222,710 771,868
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 704,556 253,714
Members' other interests 518,154 518,154
1,222,710 771,868
Page 1
Page 2
For the year ending 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
D & R Watt Limited
Designated Member
15/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Excel BF 110 LLP is a limited liability partnership, incorporated in Scotland, registered number SO300236 . The Registered Office is 1 Dalrymple Street, Fraserburgh, Aberdeenshire, AB43 9BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Construction Contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by
reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by
the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs,
except where this would not be representative of the stage of completion. Variations in contract work, claims and
incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered
probable.
Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the
extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as
expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an
expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a
subsequent period.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an
expense immediately.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are stated at cost.
The members have assessed the useful lives of these assets and believe that they would have a higher residual value at
the end of 20 years than the current book value. Therefore the members have decided that these assets should not be
amortised in the financial statements.
Fishing licences and quota are not amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 50 years straight line
Motor Vehicles 25% reducing balance
Fishing Vessel 16 years straight line
Assets Under Construction not depreciated
Page 3
Page 4
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Fishing Licences and Quota
£
Cost
As at 1 January 2023 505,000
Additions 30,400
As at 31 December 2023 535,400
Amortisation
As at 1 January 2023 -
Provided during the period 6,080
As at 31 December 2023 6,080
Net Book Value
As at 31 December 2023 529,320
As at 1 January 2023 505,000
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fishing Vessel Assets Under Construction Total
£ £ £ £ £
Cost
As at 1 January 2023 18,000 8,650 1,000,000 1,223,600 2,250,250
Additions - - 2,642,019 - 2,642,019
Disposals - - (1,000,000 ) (1,223,600 ) (2,223,600 )
As at 31 December 2023 18,000 8,650 2,642,019 - 2,668,669
Depreciation
As at 1 January 2023 3,600 1,261 625,000 - 629,861
Provided during the period 360 1,847 165,126 - 167,333
Disposals - - (625,000 ) - (625,000 )
As at 31 December 2023 3,960 3,108 165,126 - 172,194
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2023 14,040 5,542 2,476,893 - 2,496,475
As at 1 January 2023 14,400 7,389 375,000 1,223,600 1,620,389
The amounts shown as assets under construction relate to the build of a new vessel this vessel has now been completed and is therefore included in fishing vessel.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 1,450
Other debtors 14,159 -
14,159 1,450
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,060 3,882
Trade creditors 98,264 1,788
Bank loans and overdrafts 25,842 59,319
Other creditors 43,000 1,285,024
168,166 1,350,013
Bank loans are secured by a floating charge over the assets of the company.
Hire purchase contracts are secured over the asset that they relate to.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,830 3,764
Bank loans 1,681,933 6,941
1,686,763 10,705
Bank loans are secured by a floating charge over the assets of the company.
Hire purchase contracts are secured over the asset that they relate to.
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,060 3,882
Later than one year and not later than five years 4,830 3,764
5,890 7,646
5,890 7,646
Page 5