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REGISTERED NUMBER: SO302349 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HARVEST MOON (FRASERBURGH) LLP

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)






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


HARVEST MOON (FRASERBURGH) LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DESIGNATED MEMBERS: John MacAlister (Oban) Ltd
Caley Fisheries Ltd
James B Third Jnr Limited
A J Third Ltd





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





REGISTERED NUMBER: SO302349 (Scotland)

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 207,500 207,500
Tangible assets 6 1,152,696 1,190,355
1,360,196 1,397,855

CURRENT ASSETS
Debtors 7 15,649 11,336
Cash at bank 20,243 21,978
35,892 33,314
CREDITORS
Amounts falling due within one year 8 82,989 62,228
NET CURRENT LIABILITIES (47,097 ) (28,914 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,313,099

1,368,941

CREDITORS
Amounts falling due after more than one
year

9

889,181

906,354
NET ASSETS ATTRIBUTABLE TO
MEMBERS

423,918

462,587

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

423,918

462,587

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 423,918 462,587

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.

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)

BALANCE SHEET - continued
31 DECEMBER 2023


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 4 September 2024 and were signed by:





James B Third Jnr Limited - Designated member

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)

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

1. STATUTORY INFORMATION

Harvest Moon (Fraserburgh) 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.

Significant judgements and estimates
In the application of the limited liability partnership'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.

Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership 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.

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
Fishing licences and quota are presented at valuation. No amortisation has been provided for in the year as the members believe they have an indefinite useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Vessel - 6.25% on cost
Motor vehicles - 20% on reducing balance

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

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.

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)

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

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their useful lives or the term of the lease, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEE INFORMATION

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

5. INTANGIBLE FIXED ASSETS
Fishing
Quota licence Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 115,000 92,500 207,500
NET BOOK VALUE
At 31 December 2023 115,000 92,500 207,500
At 31 December 2022 115,000 92,500 207,500

6. TANGIBLE FIXED ASSETS
Motor
Vessel vehicles Totals
£    £    £   
COST
At 1 January 2023 1,280,000 56,420 1,336,420
Additions - 60,593 60,593
Disposals - (45,990 ) (45,990 )
At 31 December 2023 1,280,000 71,023 1,351,023
DEPRECIATION
At 1 January 2023 100,000 46,065 146,065
Charge for year 80,000 10,539 90,539
Eliminated on disposal - (38,277 ) (38,277 )
At 31 December 2023 180,000 18,327 198,327
NET BOOK VALUE
At 31 December 2023 1,100,000 52,696 1,152,696
At 31 December 2022 1,180,000 10,355 1,190,355

HARVEST MOON (FRASERBURGH) LLP (REGISTERED NUMBER: SO302349)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,649 11,336

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 55,000 55,000
Hire purchase contracts 3,542 -
Trade creditors 20,447 3,228
Other creditors 4,000 4,000
82,989 62,228

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 852,901 906,354
Hire purchase contracts 36,280 -
889,181 906,354

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 907,901 961,354
Hire purchase contracts 39,822 -
947,723 961,354

The bank holds a bond and floating charge over the business assets and a ships mortgage over the fishing vessel.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.

12. ULTIMATE CONTROLLING PARTY

The controlling party is James B Third Jnr Limited.