IRIS Accounts Production v24.3.2.46 OC382332 designated member 1.4.23 31.3.24 31.3.24 16.12.24 0 0 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3823322023-03-31OC3823322024-03-31OC3823322023-04-012024-03-31OC3823322022-03-31OC3823322022-04-012023-03-31OC3823322023-03-31OC382332ns15:EnglandWales2023-04-012024-03-31OC382332ns14:PoundSterling2023-04-012024-03-31OC382332ns10:PartnerLLP12023-04-012024-03-31OC382332ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC382332ns10:SmallEntities2023-04-012024-03-31OC382332ns10:Audited2023-04-012024-03-31OC382332ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC382332ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC382332ns10:FullAccounts2023-04-012024-03-31OC38233212023-04-012024-03-31OC382332ns10:PartnerLLP22023-04-012024-03-31OC382332ns10:RegisteredOffice2023-04-012024-03-31OC382332ns5:CurrentFinancialInstruments2024-03-31OC382332ns5:CurrentFinancialInstruments2023-03-31OC382332ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31OC382332ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-31OC382332ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-31OC382332ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-31OC382332ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-31OC382332ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC382332ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: OC382332 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LIVINGSTONE FISHING LLP

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIVINGSTONE FISHING LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Humber Fishing Limited
Viking Fishing Limited





REGISTERED OFFICE: C/o Andrew Marr International Limited
Livingstone Road
Hessle
HU13 0EE





REGISTERED NUMBER: OC382332 (England and Wales)

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 6 3,566,326 3,609,793

CREDITORS
Amounts falling due within one year 7 6,452 43,223
NET CURRENT ASSETS 3,559,874 3,566,570
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,559,874

3,566,570

LOANS AND OTHER DEBTS DUE TO
MEMBERS

3,559,874

3,566,570

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 3,559,874 3,566,570

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 16 December 2024 and were signed by:





Humber Fishing Limited - Designated member

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Livingstone Fishing 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. 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
It is the intention of the members to wind up the limited liability partnership in the near future, realising any remaining assets and settling any outstanding liabilities with any surplus representing a return in capital to the members. Therefore the members do not consider it appropriate to adopt the going concern basis of accounting in preparing these financial statements and accordingly they have been prepared on a basis other than going concern.

Adopting a basis other than going concern has meant that assets have been written down to their net realisable values, which is reflected in the limited liability partnership's balance sheet at the year-end, with no other impact on the recognition or measurement of the limited liability partnership's assets or liabilities. The financial statements do not include any provision for future costs of terminating the limited liability partnership.

Significant judgements and estimates
n 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Fishing licence and quota are being amortised evenly over their estimated useful life of five years.

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fishing vessel - 10% on straight line

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 credited or charged to the profit and loss account.

Financial instruments
The limited liability partnership 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 instruments are recognised in the limited liability partnership's balance sheet when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through the profit and loss account, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership's contractual obligations expire or are discharged or cancelled.

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

5. INTANGIBLE FIXED ASSETS
Fishing
licence
and quota
£   
COST
At 1 April 2023
and 31 March 2024 120,000
AMORTISATION
At 1 April 2023
and 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 3,513,361 3,272,788
Other debtors 52,965 337,005
3,566,326 3,609,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 49
Other creditors 6,452 43,174
6,452 43,223

LIVINGSTONE FISHING LLP (REGISTERED NUMBER: OC382332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to the going concern note within the accounting policies note 3.

Our audit opinion is not modified in respect of this matter.

Susan M Hepburn CA ATT (Senior Statutory Auditor)
for and on behalf of Leiper & Summers

9. RELATED PARTY DISCLOSURES

The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by its designated members as they direct the financial and
operating policies of the limited liability partnership.

The ultimate parent company and controlling party is Andrew Marr International Limited, a company registered in England and heads the group into which the results of the limited liability partnership are consolidated.