MV Ocean Pioneer LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: SO300300

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		460,000		460,000
Tangible Assets	5		104,476		108,952

			564,476		568,952
CURRENT ASSETS
Debtors	6	386,525		170,811

		386,525		170,811
Creditors: Amounts Falling Due Within One Year	7	(298,225 )		(54,404 )

NET CURRENT ASSETS (LIABILITIES)			88,300		116,407

TOTAL ASSETS LESS CURRENT LIABILITIES			652,776		685,359

Creditors: Amounts Falling Due After More Than One Year	8		(182,322 )		(187,112 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			470,454		498,247

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		167,452		195,245

			167,452		195,245

Equity
Members' other interests
Members' capital		303,002		303,002

			303,002		303,002

			470,454		498,247

TOTAL MEMBERS' INTEREST
Amounts due from members			(234,935)		(156,403)
Loans and other debts due to members within one year			167,452		195,245
Members' other interests			303,002		303,002

			235,519		341,844

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MV Ocean Pioneer LLP

Balance Sheet (continued)

As At 30 April 2025

For the year ending 30 April 2025 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

Mr Roy McBride

Designated Member

10/11/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

MV Ocean Pioneer LLP is a limited liability partnership, incorporated in Scotland, registered number SO300300 . The Registered Office is Peter & J Johnstone Limited, Bridge Street, Peterhead, Aberdeenshire, AB42 1DH.

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. No provision for amortisation has been made in these accounts as the members believe that they have indefinite lives as the rights to these assets will not be revoked.

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:

Motor Vehicles	4 years straight line
Computer Equipment	20 years straight line

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 3 (2024: 3)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 May 2024	255,000	205,000	460,000

As at 30 April 2025	255,000	205,000	460,000

Net Book Value
As at 30 April 2025	255,000	205,000	460,000

As at 1 May 2024	255,000	205,000	460,000

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MV Ocean Pioneer LLP

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

5. Tangible Assets

	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2024	59,654	773,563	833,217

As at 30 April 2025	59,654	773,563	833,217

Depreciation
As at 1 May 2024	50,702	673,563	724,265
Provided during the period	4,476	-	4,476

As at 30 April 2025	55,178	673,563	728,741

Net Book Value
As at 30 April 2025	4,476	100,000	104,476

As at 1 May 2024	8,952	100,000	108,952

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	151,590	14,408
Amounts due from members	234,935	156,403

	386,525	170,811

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	64,049	7,258
Bank loans and overdrafts	20,240	37,936
Agents balance (creditor)	213,936	9,210

	298,225	54,404

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	182,322	187,112

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