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REGISTERED NUMBER: SO304036 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Elhanan FR152 LLP

Elhanan FR152 LLP (Registered number: SO304036)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elhanan FR152 LLP

General Information
for the Year Ended 31 December 2024







DESIGNATED MEMBERS: Andrew Third Limited
Mrs H Third
Radiant Fishing Services Ltd





REGISTERED OFFICE: 1-3 Dalrymple Street
Fraserburgh
Aberdeenshire
AB43 9BH





REGISTERED NUMBER: SO304036 (Scotland)





ACCOUNTANTS: SBP
Accountants
27 Finlayson Street
Fraserburgh
Aberdeenshire
AB43 9JQ

Elhanan FR152 LLP (Registered number: SO304036)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 425,000 425,000
Tangible assets 5 84,884 94,795
509,884 519,795

CURRENT ASSETS
Debtors 6 17,830 19,719
Cash at bank 4,814 17,270
22,644 36,989
CREDITORS
Amounts falling due within one year 7 34,726 21,662
NET CURRENT (LIABILITIES)/ASSETS (12,082 ) 15,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,802

535,122

CREDITORS
Amounts falling due after more than one year 8 54,574 66,842
NET ASSETS ATTRIBUTABLE TO
MEMBERS

443,228

468,280

Elhanan FR152 LLP (Registered number: SO304036)

Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

127,028

152,080

MEMBERS' OTHER INTERESTS
Fair value reserve 10 316,200 316,200
443,228 468,280

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 127,028 152,080
Members' other interests 316,200 316,200
443,228 468,280

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 December 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 4 June 2025 and were signed by:





Andrew Third Limited - Designated member

Elhanan FR152 LLP (Registered number: SO304036)

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

1. STATUTORY INFORMATION

Elhanan FR152 LLP is registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Fishing licence
The fishing licence held is reported on a valuation basis which is based on the estimated current market value of the quota held in line with current market conditions.

Fishing quota
The fishing quota held is reported on a valuation basis which is based on the estimated current market value of the quota held in line with current market conditions.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fishing boat - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipmt & telephones - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

3. EMPLOYEE INFORMATION

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

Elhanan FR152 LLP (Registered number: SO304036)

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

4. INTANGIBLE FIXED ASSETS
Fishing Fishing
licence quota Totals
£    £    £   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 312,500 112,500 425,000
NET BOOK VALUE
At 31 December 2024 312,500 112,500 425,000
At 31 December 2023 312,500 112,500 425,000

Cost or valuation at 31 December 2024 is represented by:

Fishing Fishing
licence quota Totals
£    £    £   
Valuation in 2020 232,500 83,700 316,200
Cost 80,000 28,800 108,800
312,500 112,500 425,000

5. TANGIBLE FIXED ASSETS
Computer
Fishing Motor equipmt &
boat vehicles telephones Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 300,000 11,999 1,048 313,047
DEPRECIATION
At 1 January 2024 207,019 10,397 836 218,252
Charge for year 9,298 401 212 9,911
At 31 December 2024 216,317 10,798 1,048 228,163
NET BOOK VALUE
At 31 December 2024 83,683 1,201 - 84,884
At 31 December 2023 92,981 1,602 212 94,795

Elhanan FR152 LLP (Registered number: SO304036)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Agent - 17,502
Other debtors 16,068 -
VAT 1,015 813
Prepayments 747 1,404
17,830 19,719

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 12,040 11,000
Trade creditors 445 8,024
Agent 19,599 -
Accrued expenses 2,642 2,638
34,726 21,662

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 12,529 11,000
Bank loans - 2-5 years 40,723 33,000
Bank loans more 5 yr by instal 1,322 22,842
54,574 66,842

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,322 22,842

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members would not seek to draw capital loan balances unless they were satisfied that there were sufficient funds available to meet other creditors as they fell due.

10. RESERVES
Fair
value
reserve
£   
At 1 January 2024
and 31 December 2024 316,200

The Fair Value Reserve represents unrealised gains on the revaluation of fishing licence and quota.