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REGISTERED NUMBER: SO302167 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SHALANNA LLP

SHALANNA LLP (REGISTERED NUMBER: SO302167)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHALANNA LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DESIGNATED MEMBERS: Shaulora Fishing Company Limited
Caley Fisheries Limited





REGISTERED OFFICE: 16 Colleonard Drive
Banff
AB45 1DP





REGISTERED NUMBER: SO302167 (Scotland)

SHALANNA LLP (REGISTERED NUMBER: SO302167)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 319,340 319,340
Tangible assets 6 388,580 463,622
707,920 782,962

CURRENT ASSETS
Debtors 7 30,459 197,828
Cash at bank 4,867 -
35,326 197,828
CREDITORS
Amounts falling due within one year 8 212,687 360,991
NET CURRENT LIABILITIES (177,361 ) (163,163 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

530,559

619,799

CREDITORS
Amounts falling due after more than one
year

9

123,059

218,190
NET ASSETS ATTRIBUTABLE TO
MEMBERS

407,500

401,609

SHALANNA LLP (REGISTERED NUMBER: SO302167)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

45,000

20,359

MEMBERS' OTHER INTERESTS
Capital accounts 362,500 381,250
407,500 401,609

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 45,000 20,359
Members' other interests 362,500 381,250
Amounts due from members 7 - (64,752 )
407,500 336,857

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 June 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 14 May 2025 and were signed by:





Shaulora Fishing Company Limited - Designated member

SHALANNA LLP (REGISTERED NUMBER: SO302167)

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

1. STATUTORY INFORMATION

Shalanna 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.
Plant and machinery etc - 25% on reducing balance and 6.25% 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.

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.

SHALANNA LLP (REGISTERED NUMBER: SO302167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 319,340
NET BOOK VALUE
At 30 June 2024 319,340
At 30 June 2023 319,340

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 837,547
Disposals (78,986 )
At 30 June 2024 758,561
DEPRECIATION
At 1 July 2023 373,925
Charge for year 50,571
Eliminated on disposal (54,515 )
At 30 June 2024 369,981
NET BOOK VALUE
At 30 June 2024 388,580
At 30 June 2023 463,622

The net book value of tangible fixed assets includes £23,275 (2023 - £55,505) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £7,759 (2023 - £18,501) for the year.

SHALANNA LLP (REGISTERED NUMBER: SO302167)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,044 124,130
Other debtors 21,415 73,698
30,459 197,828

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 47,945
Hire purchase contracts 36,719 8,405
Trade creditors 137,182 300,891
Other creditors 8,786 3,750
212,687 360,991

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 123,059 181,471
Hire purchase contracts - 36,719
123,059 218,190

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 31,460 79,892

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 17,945
Bank loans 153,059 211,471
Hire purchase contracts 36,719 45,124
189,778 274,540

The bank holds a bond and floating charge over the business assets.

11. 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.

SHALANNA LLP (REGISTERED NUMBER: SO302167)

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

12. 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.