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REGISTERED NUMBER: OC413590 (England and Wales)












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: A R James
D A Holloway
P Burrow
J C R Langley
C Moore
B S W O'Connor
K J Trenter
D J Miller





REGISTERED OFFICE: Mount Farm
Romsey Road
Lockerley
Hampshire
SO51 0GR





REGISTERED NUMBER: OC413590 (England and Wales)

SHAPLEY FISHING SYNDICATE LLP (REGISTERED NUMBER: OC413590)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 174,628 174,829

CURRENT ASSETS
Stocks 5,000 5,000
Cash at bank 13,880 25,710
18,880 30,710
CREDITORS
Amounts falling due within one year 5 (3,575 ) (3,500 )
NET CURRENT ASSETS 15,305 27,210
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 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 29 February 2024.

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


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 20 November 2024 and were signed by:





C Moore - Designated member

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold land - not provided
Plant and machinery - 25% Reducing balance

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 174,028 1,526 175,554
DEPRECIATION
At 1 March 2023 - 725 725
Charge for year - 201 201
At 29 February 2024 - 926 926
NET BOOK VALUE
At 29 February 2024 174,028 600 174,628
At 28 February 2023 174,028 801 174,829

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other creditors 3,575 3,500

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.