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REGISTERED NUMBER: SO300139 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE UBEROUS PARTNERSHIP LLP

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)






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


THE UBEROUS PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DESIGNATED MEMBERS: I Duthie
C Duthie
Melantic Limited
Susian Limited
C & JD Limited





REGISTERED OFFICE: Heritage House
141 Shore Street
Fraserburgh
Aberdeenshire
AB43 9BP





REGISTERED NUMBER: SO300139 (Scotland)

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 535,606 546,406
Tangible assets 6 1,891,510 1,990,962
Investments 7 4,000 4,000
2,431,116 2,541,368

CURRENT ASSETS
Debtors 8 - 17,175
Cash at bank 3,158 13,105
3,158 30,280
CREDITORS
Amounts falling due within one year 9 262,409 165,819
NET CURRENT LIABILITIES (259,251 ) (135,539 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,171,865

2,405,829

CREDITORS
Amounts falling due after more than one
year

10

586,411

655,044
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,585,454

1,750,785

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

12

876,911

892,242

MEMBERS' OTHER INTERESTS
Capital accounts 708,543 858,543
1,585,454 1,750,785

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 12 876,911 892,242
Members' other interests 708,543 858,543
1,585,454 1,750,785

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.

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 September 2024 and were signed by:





C Duthie - Designated member

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

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

1. STATUTORY INFORMATION

The Uberous Partnership 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.

Going Concern
At the time of approving the financial statements, the members have a reasonable expectation that the company 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.

Significant judgements and estimates
In the application of the company'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.

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.
Fishing vessel and gear - 6.25% on reducing balance
Motor vehicles - 25% on reducing balance

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

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

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

3. ACCOUNTING POLICIES - continued

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.

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

Governments grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

4. EMPLOYEE INFORMATION

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

5. INTANGIBLE FIXED ASSETS
Fishing
licences
and quota
£   
COST
At 1 January 2023 557,606
Disposals (10,800 )
At 31 December 2023 546,806
AMORTISATION
At 1 January 2023
and 31 December 2023 11,200
NET BOOK VALUE
At 31 December 2023 535,606
At 31 December 2022 546,406

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

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

6. TANGIBLE FIXED ASSETS
Fishing
vessel Motor
and gear vehicles Totals
£    £    £   
COST
At 1 January 2023 2,545,476 151,881 2,697,357
Additions - 166,995 166,995
Disposals - (151,881 ) (151,881 )
At 31 December 2023 2,545,476 166,995 2,712,471
DEPRECIATION
At 1 January 2023 636,369 70,026 706,395
Charge for year 159,092 28,850 187,942
Eliminated on disposal - (73,376 ) (73,376 )
At 31 December 2023 795,461 25,500 820,961
NET BOOK VALUE
At 31 December 2023 1,750,015 141,495 1,891,510
At 31 December 2022 1,909,107 81,855 1,990,962

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 4,000
NET BOOK VALUE
At 31 December 2023 4,000
At 31 December 2022 4,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 17,175

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 88,041 89,000
Hire purchase contracts 19,136 15,531
Trade creditors 142,530 57,288
Other creditors 12,702 4,000
262,409 165,819

THE UBEROUS PARTNERSHIP LLP (REGISTERED NUMBER: SO300139)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 492,683 589,805
Hire purchase contracts 93,728 65,239
586,411 655,044

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 216,386 328,809

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 580,724 678,805
Hire purchase contracts 112,864 80,770
693,588 759,575

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

12. 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.