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REGISTERED NUMBER: SO300128 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

REAPER FISHING LLP

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REAPER FISHING LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DESIGNATED MEMBERS: I Duthie
Peter & J. Johnstone Limited
Mrs S Duthie
Reaper (Fraserburgh) Fishing Services Limited





REGISTERED OFFICE: Bridge Street
Peterhead
Aberdeenshire
AB42 1DH





REGISTERED NUMBER: SO300128 (Scotland)

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 638,570 638,570
Tangible assets 6 44,182 34,462
682,752 673,032

CURRENT ASSETS
Debtors 7 1,178,745 1,200,773

CREDITORS
Amounts falling due within one year 8 435,177 546,175
NET CURRENT ASSETS 743,568 654,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,426,320

1,327,630

CREDITORS
Amounts falling due after more than one
year

9

40,783

40,321
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,385,537

1,287,309

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

77,143

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,308,394 1,287,309
1,385,537 1,287,309

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 77,143 -
Members' other interests 1,308,394 1,287,309
Amounts due from members 7 (1,107,535 ) (1,108,443 )
278,002 178,866

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 30 April 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.

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)

BALANCE SHEET - continued
30 APRIL 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 23 December 2024 and were signed by:





I Duthie - Designated member

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Reaper Fishing 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.

Significant judgements and estimates
In 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.

Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership 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.

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.
Freehold property - 10% on cost
Fishing vessel - Straight line over 15 years
Motor vehicles - 25% on cost

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.

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Government 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.

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.

4. EMPLOYEE INFORMATION

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

5. INTANGIBLE FIXED ASSETS
Fishing Fishing
quota licence Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 488,570 150,000 638,570
NET BOOK VALUE
At 30 April 2024 488,570 150,000 638,570
At 30 April 2023 488,570 150,000 638,570

6. TANGIBLE FIXED ASSETS
Freehold Fishing Motor
property vessel vehicles Totals
£    £    £    £   
COST
At 1 May 2023 10,000 782,637 68,926 861,563
Additions - - 30,801 30,801
At 30 April 2024 10,000 782,637 99,727 892,364
DEPRECIATION
At 1 May 2023 10,000 782,637 34,464 827,101
Charge for year - - 21,081 21,081
At 30 April 2024 10,000 782,637 55,545 848,182
NET BOOK VALUE
At 30 April 2024 - - 44,182 44,182
At 30 April 2023 - - 34,462 34,462

REAPER FISHING LLP (REGISTERED NUMBER: SO300128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,178,745 1,200,773

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 133,061 178,054
Hire purchase contracts 11,788 8,288
Trade creditors 35,503 102,205
Other creditors 254,825 257,628
435,177 546,175

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 40,783 40,321

10. 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.

11. ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by the designated members who control the financial and operating activities of the limited liability partnership.