IRIS Accounts Production v24.2.0.383 OC360592 designated member designated member 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3605922023-03-31OC3605922024-03-31OC3605922023-04-012024-03-31OC3605922022-03-31OC3605922022-04-012023-03-31OC3605922023-03-31OC360592ns15:EnglandWales2023-04-012024-03-31OC360592ns14:PoundSterling2023-04-012024-03-31OC360592ns10:PartnerLLP12023-04-012024-03-31OC360592ns10:PartnerLLP22023-04-012024-03-31OC360592ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC360592ns10:SmallEntities2023-04-012024-03-31OC360592ns10:AuditExemptWithAccountantsReport2023-04-012024-03-31OC360592ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC360592ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC360592ns10:FullAccounts2023-04-012024-03-31OC360592ns10:RegisteredOffice2023-04-012024-03-31OC360592ns5:CurrentFinancialInstruments2024-03-31OC360592ns5:CurrentFinancialInstruments2023-03-31OC360592ns5:Non-currentFinancialInstruments2024-03-31OC360592ns5:Non-currentFinancialInstruments2023-03-31OC360592ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-31OC360592ns5:PlantMachinery2023-04-012024-03-31OC360592ns5:FurnitureFittings2023-04-012024-03-31OC360592ns5:MotorVehicles2023-04-012024-03-31OC360592ns5:ComputerEquipment2023-04-012024-03-31OC360592ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-31OC360592ns5:PlantMachinery2023-03-31OC360592ns5:FurnitureFittings2023-03-31OC360592ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-31OC360592ns5:PlantMachinery2024-03-31OC360592ns5:FurnitureFittings2024-03-31OC360592ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-31OC360592ns5:PlantMachinery2023-03-31OC360592ns5:FurnitureFittings2023-03-31OC360592ns5:MotorVehicles2023-03-31OC360592ns5:ComputerEquipment2023-03-31OC360592ns5:MotorVehicles2024-03-31OC360592ns5:ComputerEquipment2024-03-31OC360592ns5:MotorVehicles2023-03-31OC360592ns5:ComputerEquipment2023-03-31OC360592ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-04-012024-03-31OC360592ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-31OC360592ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-31OC360592ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-03-31OC360592ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-31OC360592ns5:LeasedAssetsHeldAsLessee2024-03-31OC360592ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:LeasedAssetsHeldAsLessee2023-03-31OC360592ns5:CostValuation2023-03-31OC360592ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC360592ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC360592ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-31OC360592ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-31OC360592ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-31OC360592ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31OC360592ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC360592ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC360592ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-31OC360592ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-31OC360592ns5:HirePurchaseContracts2024-03-31OC360592ns5:HirePurchaseContracts2023-03-31OC360592ns5:WithinOneYear2024-03-31OC360592ns5:WithinOneYear2023-03-31OC360592ns5:BetweenOneFiveYears2024-03-31OC360592ns5:BetweenOneFiveYears2023-03-31OC360592ns5:AllPeriods2024-03-31OC360592ns5:AllPeriods2023-03-31OC360592ns5:Secured2024-03-31OC360592ns5:Secured2023-03-31
REGISTERED NUMBER: OC360592 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

J & S FRESH FISH LLP

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Report of the Members 2

Statement of Financial Position 4

Notes to the Financial Statements 6

Chartered Accountants' Report 12

J & S FRESH FISH LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mrs S J Puckett
J Puckett





REGISTERED OFFICE: 469 Winchester Road
Bassett
Southampton
Hampshire
SO16 7EH





REGISTERED NUMBER: OC360592 (England and Wales)





ACCOUNTANTS: Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
SO15 9JZ

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Report of the Members
for the Year Ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of a wholesale fish brokerage. In addition, the LLP operates a retail operation selling fresh fish from their Leasehold premises in Shamrock Quay, Southampton. Further, the LLP also now offers fresh fish to Wholesale customers such as Bars & Restaurants, as well as fish preparation.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mrs S J Puckett
J Puckett

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £2,919 (2023 - £16,301 profit).

MEMBERS' INTERESTS
In prior years the Members have signed a further addendum to the LLP Agreement. Under the Addendum to the LLP Agreement, the members of the LLP were required to make a minimum capital contribution of £254,975. The Members cannot with-draw this sum under the terms of the LLP Agreement.This clause was revoked in the year and the Members Capital Accounts were transferred to be off-set against "Amounts due from Members".

In respect to any losses that accrue, the LLP Agreement is prescriptive in that the LLP has an unconditional right to demand re-payment of losses from its members. On this basis, the LLP continues to treat any losses accruing as "Amounts Due from Members" and any profits accruing as "Amounts Due to Members".

Profits/ (losses) are allocated based on a decision taken by members, as a whole, pre year-end. On this basis, the allocation of profits/(Losses) in the year has been treated as a liability on the Balance Sheet under "Debts due to Members" or as an asset on the Balance Sheet, in respect to losses, under "Debts Due from Members".

Furthermore, as the decision over allocation of profits/ (losses) is taken pre year-end then division of profit/(losses) is allocated from "Members' other interests Reserve" to "Loans and Other debts due to/from the Members" at the Balance Sheet Date.

Drawings taken by a member, which exceed a discretionary profit share, are liable to be re-paid by that member upon demand following a decision taken by the members as a whole.

The members are required to maintain a minimum capital requirement. This decision was taken for commercial considerations and is formalised as part of the LLP Agreement. Under the agreement, members cannot demand re-payment of their capital contribution, hence the members' capital has been treated as equity in the accounts.


J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Report of the Members
for the Year Ended 31 March 2024

CHARITABLE DONATIONS AND EXPENDITURE
The client has made the following Charitable Donations:-

Light for Bulgaria £1,200
Countess Mountbatten Hospice £240
Alder Trust £300
Market Place £1,380
Fishermans Mission £10

ON BEHALF OF THE MEMBERS:





Mrs S J Puckett - Designated member


18 January 2025

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 63,567 91,416
Investments 6 500 500
64,067 91,916

CURRENT ASSETS
Stocks 7 13,761 18,103
Debtors 8 317,994 554,325
Cash in hand 395 535
332,150 572,963
CREDITORS
Amounts falling due within one year 9 319,472 277,745
NET CURRENT ASSETS 12,678 295,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,745

387,134

CREDITORS
Amounts falling due after more than
one year

10

(61,745

)

(132,159

)

PROVISIONS FOR LIABILITIES (15,000 ) -
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

254,975

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Statement of Financial Position - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts - 254,975
- 254,975

TOTAL MEMBERS' INTERESTS
Members' other interests - 254,975
Amounts due from members 8 (217,742 ) (445,935 )
(217,742 ) (190,960 )

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 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.

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 18 January 2025 and were signed by:





Mrs S J Puckett - Designated member

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J & S Fresh Fish Llp is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 180,558 54,427 32,699
Additions - 3,689 2,400
Disposals (2,980 ) - -
At 31 March 2024 177,578 58,116 35,099
DEPRECIATION
At 1 April 2023 143,955 41,830 28,050
Charge for year 18,394 3,666 2,299
Eliminated on disposal (2,682 ) - -
At 31 March 2024 159,667 45,496 30,349
NET BOOK VALUE
At 31 March 2024 17,911 12,620 4,750
At 31 March 2023 36,603 12,597 4,649

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 66,312 12,690 346,686
Additions - 75 6,164
Disposals - - (2,980 )
At 31 March 2024 66,312 12,765 349,870
DEPRECIATION
At 1 April 2023 28,825 12,610 255,270
Charge for year 9,371 (15 ) 33,715
Eliminated on disposal - - (2,682 )
At 31 March 2024 38,196 12,595 286,303
NET BOOK VALUE
At 31 March 2024 28,116 170 63,567
At 31 March 2023 37,487 80 91,416

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 - 62,212 62,212
Additions 2,400 - 2,400
At 31 March 2024 2,400 62,212 64,612
DEPRECIATION
At 1 April 2023 - 25,508 25,508
Charge for year - 9,176 9,176
At 31 March 2024 - 34,684 34,684
NET BOOK VALUE
At 31 March 2024 2,400 27,528 29,928
At 31 March 2023 - 36,704 36,704

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 500
NET BOOK VALUE
At 31 March 2024 500
At 31 March 2023 500

7. STOCKS
31.3.24 31.3.23
£    £   
Finished goods 13,761 18,103

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 91,866 91,824
Other debtors 226,128 462,501
317,994 554,325

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 11)
94,401

66,342
Hire purchase contracts (see note 12)
8,636

9,187
Trade creditors 189,016 172,007
Taxation and social security 2,158 2,465
Other creditors 25,261 27,744
319,472 277,745

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 11) 41,779 105,492
Hire purchase contracts (see note 12)
19,966

26,667
61,745 132,159

11. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 22,228 7,256
Bank loans - less than 1 yr 72,173 59,086
Loans 20,000 20,000
114,401 86,342

Amounts falling due between one and two years:
Bank loans - 1-2 years 40,174 63,575

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. LOANS - continued
31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,605 41,917

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 8,636 9,187
Between one and five years 19,966 26,667
28,602 35,854

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 30,000 -
Between one and five years - 30,000
30,000 30,000

13. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 22,228 7,256

The Bank Overdraft is secured through a debenture.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Designated Members,J&S Puckett.

J & S FRESH FISH LLP (REGISTERED NUMBER: OC360592)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. CAPITAL ACCOUNT

In accordance with Clause 9.10 of the LLP Agreement, no Member of the LLP may withdraw or receive back any part of the sum credited to his Capital Account. On this basis, the LLP has the unconditional right to refuse redemption of the Capital Account. In accordance with Section 22 of FRS102, the LLP considers the capital account to be "equity" and has disclosed this accordingly. The Balance on the members' capital account, as at the year-end, is £NIL (2023:£254,975).
This clause has been revoked by the Members, during the year, and hence the Capital Account balance was transferred against "Amounts Due from Members".

16. AMOUNTS DUE FROM MEMBERS

At the year-end date, the LLP was owed the following amounts by the members

Mrs S J Puckett: £115,822 (2023:£209,766)
Mr J Puckett: £96,920 (2023:£236,169)

In accordance with Clause 11.3 of the LLP Agreement any loan due from the Member, to the LLP, shall be repayable by that Member to the LLP as agreed and directed by the Members.

This Debt is unsecured and ranks pari passu with "Other Debtors".

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
J & S Fresh Fish Llp

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of J & S Fresh Fish Llp for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of J & S Fresh Fish Llp, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J & S Fresh Fish Llp and state those matters that we have agreed to state to the members of J & S Fresh Fish Llp, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J & S Fresh Fish Llp and its members, as a body, for our work or for this report.

It is your duty to ensure that J & S Fresh Fish Llp has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J & S Fresh Fish Llp. You consider that J & S Fresh Fish Llp is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J & S Fresh Fish Llp. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
SO15 9JZ


18 January 2025