REGISTERED NUMBER: |
SHAPLEY FISHING SYNDICATE LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
REGISTERED NUMBER: |
SHAPLEY FISHING SYNDICATE LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
SHAPLEY FISHING SYNDICATE LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
STATEMENT OF FINANCIAL POSITION |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
189,933 |
202,039 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
189,933 |
202,039 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 189,933 | 202,039 |
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. |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
STATEMENT OF FINANCIAL POSITION - continued |
29 FEBRUARY 2024 |
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 |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Shapley Fishing Syndicate LLP is registered in England and Wales. 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to entities subject to the small companies' regime. |
The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £1. |
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold land | - |
Plant and machinery | - |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement. |
Stocks |
Stocks represent the fish held in the lake owned by the LLP, and are valued at the lower of cost and net realisable value. |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial assets are recognised in the LLP's statement of financial position when the LLP becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Equity instruments issued by the LLP are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
land | machinery | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with other creditors. |
No restrictions or limitations exist on the ability of the members to reduce the amount of members' other interests. |