REGISTERED NUMBER: SO300128 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

REAPER FISHING LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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)

FIXED ASSETS

Intangible assets

5

638,570

638,570

Tangible assets

6

19,250

44,182

657,820

682,752

CURRENT ASSETS

Debtors

7

1,259,351

1,178,745

CREDITORS

Amounts falling due within one year

8

414,834

435,177

NET CURRENT ASSETS

844,517

743,568

TOTAL ASSETS LESS CURRENT LIABILITIES

1,502,337

1,426,320

CREDITORS

Amounts falling due after more than one year

9

5,250

40,783

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,497,087

1,385,537

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

166,794

77,143

MEMBERS' OTHER INTERESTS

Capital accounts

1,330,293

1,308,394

1,497,087

1,385,537

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

166,794

77,143

Members' other interests

1,330,293

1,308,394

Amounts due from members

7

(1,186,960

)

(1,107,535

)

310,127

278,002

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 2025.

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 28 March 2026 and were signed by:

I Duthie - Designated member

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost and Straight line over 15 years

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.

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 (2024 - NIL).

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

488,570

150,000

638,570

NET BOOK VALUE

At 30 April 2025

488,570

150,000

638,570

At 30 April 2024

488,570

150,000

638,570

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2024

and 30 April 2025

10,000

882,364

892,364

DEPRECIATION

At 1 May 2024

10,000

838,182

848,182

Charge for year

-

24,932

24,932

At 30 April 2025

10,000

863,114

873,114

NET BOOK VALUE

At 30 April 2025

-

19,250

19,250

At 30 April 2024

-

44,182

44,182

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,259,351

1,178,745

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

143,494

133,061

Hire purchase contracts

35,533

11,788

Trade creditors

7,245

35,503

Other creditors

228,562

254,825

414,834

435,177

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

5,250

40,783

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.