IRIS Accounts Production v25.3.0.601 SO300238 designated member 6.4.24 31.12.24 31.12.24 0 0 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SO300238 2024-04-05 SO300238 2024-12-31 SO300238 2024-04-06 2024-12-31 SO300238 2023-04-05 SO300238 2023-04-06 2024-04-05 SO300238 2024-04-05 SO300238 ns15:Scotland 2024-04-06 2024-12-31 SO300238 ns14:PoundSterling 2024-04-06 2024-12-31 SO300238 ns10:PartnerLLP1 2024-04-06 2024-12-31 SO300238 ns10:LimitedLiabilityPartnershipLLP 2024-04-06 2024-12-31 SO300238 ns10:SmallEntities 2024-04-06 2024-12-31 SO300238 ns10:AuditExempt-NoAccountantsReport 2024-04-06 2024-12-31 SO300238 ns10:SmallCompaniesRegimeForAccounts 2024-04-06 2024-12-31 SO300238 ns10:LimitedLiabilityPartnershipsSORP 2024-04-06 2024-12-31 SO300238 ns10:FullAccounts 2024-04-06 2024-12-31 SO300238 1 2024-04-06 2024-12-31 SO300238 ns10:PartnerLLP2 2024-04-06 2024-12-31 SO300238 ns10:RegisteredOffice 2024-04-06 2024-12-31 SO300238 ns5:CurrentFinancialInstruments 2024-12-31 SO300238 ns5:CurrentFinancialInstruments 2024-04-05 SO300238 ns5:Non-currentFinancialInstruments 2024-12-31 SO300238 ns5:Non-currentFinancialInstruments 2024-04-05 SO300238 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-04-06 2024-12-31 SO300238 ns5:PlantMachinery 2024-04-06 2024-12-31 SO300238 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-05 SO300238 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-31 SO300238 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-05 SO300238 ns5:LandBuildings 2024-04-05 SO300238 ns5:PlantMachinery 2024-04-05 SO300238 ns5:LandBuildings 2024-04-06 2024-12-31 SO300238 ns5:LandBuildings 2024-12-31 SO300238 ns5:PlantMachinery 2024-12-31 SO300238 ns5:LandBuildings 2024-04-05 SO300238 ns5:PlantMachinery 2024-04-05 SO300238 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 SO300238 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-04-05 SO300238 ns5:Secured 2024-12-31 SO300238 ns5:Secured 2024-04-05

REGISTERED NUMBER: SO300238 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

FOR

MB GOOD DESIGN LLP

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

Page |

| General Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| MB GOOD DESIGN LLP |

GENERAL INFORMATION

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

| DESIGNATED MEMBERS: | Melantic Limited

| Stephen West Limited

| REGISTERED OFFICE: | Heritage House

| Shore Street

| Fraserburgh

| Aberdeenshire

| AB43 9BP

| REGISTERED NUMBER: | SO300238 (Scotland)

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 639,275 |  | 639,275 |  |

Tangible assets | 6 | 2,894,659 |  | 3,109,495 |  |

3,533,934 |  | 3,748,770 |  |

CURRENT ASSETS

Debtors | 7 | 147,616 |  | 35,397 |  |

Cash at bank | 2,343 |  | 1,011 |  |

149,959 |  | 36,408 |  |

CREDITORS

Amounts falling due within one year | 8 | 94,985 |  | 110,157 |  |

NET CURRENT ASSETS/(LIABILITIES) | 54,974 |  | (73,749 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,588,908 |  | 3,675,021 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 1,101,118 |  | 1,133,037 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 2,487,790 |  | 2,541,984 |  |

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

BALANCE SHEET - continued

31 DECEMBER 2024

| 2024 | 2024 |

| Notes | £ | £ | £ | £ |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 2,193,549 |  | 2,247,743 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 294,241 |  | 294,241 |  |

2,487,790 |  | 2,541,984 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 2,193,549 |  | 2,247,743 |  |

Members' other interests | 294,241 |  | 294,241 |  |

2,487,790 |  | 2,541,984 |  |

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 period 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 24 September 2025 and were signed by:

Stephen West Limited - Designated member

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| MB Good Design 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.

| 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.

| 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.

| Turnover

| Turnover represents amounts receivable for the sale of fish and related products. This is recognised at point of settling and 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

| 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 period was NIL (2024 - NIL).

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

5. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 6 April 2024

| and 31 December 2024 | 639,275 |  |

| NET BOOK VALUE

| At 31 December 2024 | 639,275 |  |

| At 5 April 2024 | 639,275 |  |

6. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 6 April 2024

| and 31 December 2024 | 15,300 |  | 3,245,999 |  | 3,261,299 |  |

| DEPRECIATION

| At 6 April 2024 | - |  | 151,804 |  | 151,804 |  |

| Charge for period | - |  | 214,836 |  | 214,836 |  |

| At 31 December 2024 | - |  | 366,640 |  | 366,640 |  |

| NET BOOK VALUE

| At 31 December 2024 | 15,300 |  | 2,879,359 |  | 2,894,659 |  |

| At 5 April 2024 | 15,300 |  | 3,094,195 |  | 3,109,495 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2024 |

£ | £ |

| Trade debtors | 71,382 |  | 34,956 |  |

| Other debtors | 76,234 |  | 441 |  |

147,616 |  | 35,397 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2024 |

£ | £ |

| Bank loans and overdrafts | 45,000 |  | 49,120 |  |

| Hire purchase contracts | 3,356 |  | 3,356 |  |

| Trade creditors | 2,103 |  | 12,744 |  |

| Other creditors | 44,526 |  | 44,937 |  |

94,985 |  | 110,157 |  |

| MB GOOD DESIGN LLP (REGISTERED NUMBER: SO300238) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 6 APRIL 2024 TO 31 DECEMBER 2024

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2024 |

£ | £ |

| Bank loans | 1,069,071 |  | 1,098,268 |  |

| Hire purchase contracts | 28,992 |  | 30,950 |  |

| Other creditors | 3,055 |  | 3,819 |  |

1,101,118 |  | 1,133,037 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 889,071 |  | 901,788 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2024 |

£ | £ |

| Bank loans | 1,114,071 |  | 1,147,388 |  |

| The bank holds a bond and floating charge over the business assets and a ship mortgage over the fishing vessel.