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REGISTERED NUMBER: OC427477 (England and Wales)









Unaudited Financial Statements

for the Period 1 June 2023 to 31 March 2024

for

Sailors Creek Shellfish LLP

Sailors Creek Shellfish LLP (Registered number: OC427477)






Contents of the Financial Statements
for the Period 1 June 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sailors Creek Shellfish LLP

General Information
for the Period 1 June 2023 to 31 March 2024







DESIGNATED MEMBERS: M Laity
T A Knights





REGISTERED OFFICE: Long Close Farm Shop
Tregew Road
Flushing
Cornwall
TR11 5UQ





REGISTERED NUMBER: OC427477 (England and Wales)





ACCOUNTANTS: Shepherds Chartered Tax Advisers & Accountants
11A Kimberley Park Road
Falmouth
Cornwall
TR11 2DA

Sailors Creek Shellfish LLP (Registered number: OC427477)

Balance Sheet
31 March 2024

31.3.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,888 43,375

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 5 70,252 8,969
Cash at bank and in hand 12,480 25,137
85,732 37,106
CREDITORS
Amounts falling due within one year 6 32,560 14,362
NET CURRENT ASSETS 53,172 22,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,060

66,119

CREDITORS
Amounts falling due after more than one
year

7

12,754

20,994
NET ASSETS ATTRIBUTABLE TO
MEMBERS

75,306

45,125

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

75,306

45,125

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 75,306 45,125

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 period ended 31 March 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.

Sailors Creek Shellfish LLP (Registered number: OC427477)

Balance Sheet - continued
31 March 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 4 July 2024 and were signed by:





M Laity - Designated member

Sailors Creek Shellfish LLP (Registered number: OC427477)

Notes to the Financial Statements
for the Period 1 June 2023 to 31 March 2024

1. STATUTORY INFORMATION

Sailors Creek Shellfish 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 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. The financial statements have been prepared under the historical cost convention.

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 each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 4,517 70,292 74,809
Additions - 1,379 1,379
Disposals - (6,000 ) (6,000 )
At 31 March 2024 4,517 65,671 70,188
DEPRECIATION
At 1 June 2023 - 31,434 31,434
Charge for period - 7,968 7,968
Eliminated on disposal - (4,102 ) (4,102 )
At 31 March 2024 - 35,300 35,300
NET BOOK VALUE
At 31 March 2024 4,517 30,371 34,888
At 31 May 2023 4,517 38,858 43,375

Sailors Creek Shellfish LLP (Registered number: OC427477)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.5.23
£    £   
Trade debtors 65,917 6,241
Other debtors 4,335 2,728
70,252 8,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.5.23
£    £   
Bank loans and overdrafts 9,928 9,964
Trade creditors 21,482 2,698
Other creditors 1,150 1,700
32,560 14,362

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.5.23
£    £   
Bank loans 12,754 20,994

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.