Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 SO307243 Peter & J Johnstone Limited MCM Fishing Limited Mr Ernest Simpson On Behalf Of The Simpsons Trust iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO307243 2023-04-30 SO307243 2024-04-30 SO307243 2023-05-01 2024-04-30 SO307243 frs-core:CurrentFinancialInstruments 2024-04-30 SO307243 frs-core:Non-currentFinancialInstruments 2024-04-30 SO307243 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 SO307243 frs-core:FurnitureFittings 2024-04-30 SO307243 frs-core:FurnitureFittings 2023-05-01 2024-04-30 SO307243 frs-core:FurnitureFittings 2023-04-30 SO307243 frs-core:NetGoodwill 2024-04-30 SO307243 frs-core:NetGoodwill 2023-05-01 2024-04-30 SO307243 frs-core:NetGoodwill 2023-04-30 SO307243 frs-core:MotorVehicles 2024-04-30 SO307243 frs-core:MotorVehicles 2023-05-01 2024-04-30 SO307243 frs-core:MotorVehicles 2023-04-30 SO307243 frs-core:OtherResidualIntangibleAssets 2024-04-30 SO307243 frs-core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 SO307243 frs-core:OtherResidualIntangibleAssets 2023-04-30 SO307243 frs-core:PlantMachinery 2024-04-30 SO307243 frs-core:PlantMachinery 2023-05-01 2024-04-30 SO307243 frs-core:PlantMachinery 2023-04-30 SO307243 frs-bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 SO307243 frs-bus:LimitedLiabilityPartnershipsSORP 2023-05-01 2024-04-30 SO307243 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 SO307243 frs-bus:SmallEntities 2023-05-01 2024-04-30 SO307243 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SO307243 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SO307243 frs-countries:Scotland 2023-05-01 2024-04-30 SO307243 frs-bus:PartnerLLP1 2023-05-01 2024-04-30 SO307243 frs-bus:PartnerLLP2 2023-05-01 2024-04-30 SO307243 frs-bus:PartnerLLP3 2023-05-01 2024-04-30 SO307243 2022-04-30 SO307243 2023-04-30 SO307243 2022-05-01 2023-04-30 SO307243 frs-core:CurrentFinancialInstruments 2023-04-30 SO307243 frs-core:Non-currentFinancialInstruments 2023-04-30
Registered number: SO307243
Maverick Enterprises LLP
Unaudited Financial Statements
For The Year Ended 30 April 2024
M Squared Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SO307243
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,189,120 1,295,810
Tangible Assets 5 3,069,291 3,219,355
4,258,411 4,515,165
CURRENT ASSETS
Debtors 6 12,008 21,019
12,008 21,019
Creditors: Amounts Falling Due Within One Year 7 (78,135 ) (4,213 )
NET CURRENT ASSETS (LIABILITIES) (66,127 ) 16,806
TOTAL ASSETS LESS CURRENT LIABILITIES 4,192,284 4,531,971
Creditors: Amounts Falling Due After More Than One Year 8 (1,187,978 ) (1,268,965 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,004,306 3,263,006
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 477,142 735,842
477,142 735,842
Equity
Members' other interests
Members' capital 2,527,164 2,527,164
2,527,164 2,527,164
3,004,306 3,263,006
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 477,142 735,842
Members' other interests 2,527,164 2,527,164
3,004,306 3,263,006
Page 1
Page 2
For the year ending 30 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
MCM Fishing Limited
Designated Member
23/01/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maverick Enterprises LLP is a limited liability partnership, incorporated in Scotland, registered number SO307243 . The Registered Office is 1-3 Dalrymple Street, Fraserburgh, Aberdeenshire, AB43 9BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Fishing licence and quota are stated at cost. Amortisation has been calculated over 5 years straight line.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 years straight line
Motor Vehicles 4 years straight line
Fishing Vessel 16 years straight line
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Fishing Quota Fishing Licences Total
£ £ £
Cost
As at 1 May 2023 527,900 981,290 1,509,190
As at 30 April 2024 527,900 981,290 1,509,190
Amortisation
As at 1 May 2023 52,200 161,180 213,380
Provided during the period 26,100 80,590 106,690
As at 30 April 2024 78,300 241,770 320,070
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 April 2024 449,600 739,520 1,189,120
As at 1 May 2023 475,700 820,110 1,295,810
5. Tangible Assets
Plant & Machinery Motor Vehicles Fishing Vessel Total
£ £ £ £
Cost
As at 1 May 2023 12,738 28,001 3,632,239 3,672,978
Additions - 106,602 - 106,602
Disposals - (28,001 ) - (28,001 )
As at 30 April 2024 12,738 106,602 3,632,239 3,751,579
Depreciation
As at 1 May 2023 3,738 28,001 421,884 453,623
Provided during the period 3,000 26,651 227,015 256,666
Disposals - (28,001 ) - (28,001 )
As at 30 April 2024 6,738 26,651 648,899 682,288
Net Book Value
As at 30 April 2024 6,000 79,951 2,983,340 3,069,291
As at 1 May 2023 9,000 - 3,210,355 3,219,355
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 12,008 13,238
Agents balance (debtor) - 7,781
12,008 21,019
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,131 1,713
Agents balance (creditor) 63,504 -
Accruals and deferred income 2,500 2,500
78,135 4,213
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,187,978 1,268,965
Page 4