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 SO302110 George West Limited Caley Fisheries Limited Mr Peter Willox Mrs Sandra Willox iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO302110 2022-12-31 SO302110 2023-12-31 SO302110 2023-01-01 2023-12-31 SO302110 frs-core:CurrentFinancialInstruments 2023-12-31 SO302110 frs-core:Non-currentFinancialInstruments 2023-12-31 SO302110 frs-core:BetweenOneFiveYears 2023-12-31 SO302110 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 SO302110 frs-core:NetGoodwill 2023-12-31 SO302110 frs-core:NetGoodwill 2023-01-01 2023-12-31 SO302110 frs-core:NetGoodwill 2022-12-31 SO302110 frs-core:MotorVehicles 2023-12-31 SO302110 frs-core:MotorVehicles 2023-01-01 2023-12-31 SO302110 frs-core:MotorVehicles 2022-12-31 SO302110 frs-core:OtherResidualIntangibleAssets 2023-12-31 SO302110 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 SO302110 frs-core:OtherResidualIntangibleAssets 2022-12-31 SO302110 frs-core:PlantMachinery 2023-12-31 SO302110 frs-core:PlantMachinery 2023-01-01 2023-12-31 SO302110 frs-core:PlantMachinery 2022-12-31 SO302110 frs-core:WithinOneYear 2023-12-31 SO302110 frs-bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 SO302110 frs-bus:LimitedLiabilityPartnershipsSORP 2023-01-01 2023-12-31 SO302110 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SO302110 frs-bus:SmallEntities 2023-01-01 2023-12-31 SO302110 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SO302110 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SO302110 frs-core:CurrentFinancialInstruments 1 2023-12-31 SO302110 frs-countries:Scotland 2023-01-01 2023-12-31 SO302110 frs-bus:PartnerLLP1 2023-01-01 2023-12-31 SO302110 frs-bus:PartnerLLP2 2023-01-01 2023-12-31 SO302110 frs-bus:PartnerLLP3 2023-01-01 2023-12-31 SO302110 frs-bus:PartnerLLP4 2023-01-01 2023-12-31 SO302110 2021-12-31 SO302110 2022-12-31 SO302110 2022-01-01 2022-12-31 SO302110 frs-core:CurrentFinancialInstruments 2022-12-31 SO302110 frs-core:Non-currentFinancialInstruments 2022-12-31 SO302110 frs-core:BetweenOneFiveYears 2022-12-31 SO302110 frs-core:WithinOneYear 2022-12-31 SO302110 frs-core:CurrentFinancialInstruments 1 2022-12-31 SO302110 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: SO302110
MB Bountiful 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: SO302110
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 108,440 140,910
Tangible Assets 5 82,339 93,118
190,779 234,028
CURRENT ASSETS
Debtors 6 350,446 370,973
350,446 370,973
Creditors: Amounts Falling Due Within One Year 7 (221,644 ) (244,900 )
NET CURRENT ASSETS (LIABILITIES) 128,802 126,073
TOTAL ASSETS LESS CURRENT LIABILITIES 319,581 360,101
Creditors: Amounts Falling Due After More Than One Year 8 (76,560 ) (117,080 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 243,021 243,021
REPRESENTED BY:
Equity
Members' other interests
Members' capital 243,021 243,021
243,021 243,021
TOTAL MEMBERS' INTEREST
Amounts due from members (350,446) (368,279)
Members' other interests 243,021 243,021
(107,425) (125,258)
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
George West Limited
Designated Member
09/09/2024
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
MB Bountiful LLP is a limited liability partnership, incorporated in Scotland, registered number SO302110 . The Registered Office is 1-3 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Fishing Licence and Quota. Fishing Licence and Qutoa are amortised to the profit and loss account over its estimated economic life of 10 years.
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:
Plant & Machinery 6.25% on cost
Motor Vehicles 25% reducing balance
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: 4 (2022: 4)
4 4
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Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2023 163,200 161,500 324,700
As at 31 December 2023 163,200 161,500 324,700
Amortisation
As at 1 January 2023 70,740 113,050 183,790
Provided during the period 16,320 16,150 32,470
As at 31 December 2023 87,060 129,200 216,260
Net Book Value
As at 31 December 2023 76,140 32,300 108,440
As at 1 January 2023 92,460 48,450 140,910
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 100,000 32,210 132,210
As at 31 December 2023 100,000 32,210 132,210
Depreciation
As at 1 January 2023 25,000 14,092 39,092
Provided during the period 6,250 4,529 10,779
As at 31 December 2023 31,250 18,621 49,871
Net Book Value
As at 31 December 2023 68,750 13,589 82,339
As at 1 January 2023 75,000 18,118 93,118
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 290
Agent account (debtor) - 2,404
Amounts due from members 350,446 368,279
350,446 370,973
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,224 4,224
Trade creditors 112,362 131,877
Bank loans and overdrafts 39,851 38,915
VAT 3,985 3,985
Agent account (creditor) 9,223 -
Other loans 49,498 63,414
Accruals 2,501 2,485
221,644 244,900
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,224 8,448
Bank loans 72,336 108,632
76,560 117,080
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,224 4,224
Later than one year and not later than five years 4,224 8,448
8,448 12,672
8,448 12,672
Page 5