IRIS Accounts Production v26.1.0.640 SO307789 designated member 1.6.24 31.5.25 31.5.25 0 0 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SO307789 2024-05-31 SO307789 2025-05-31 SO307789 2024-06-01 2025-05-31 SO307789 2023-05-17 SO307789 2023-05-18 2024-05-31 SO307789 2024-05-31 SO307789 ns15:Scotland 2024-06-01 2025-05-31 SO307789 ns14:PoundSterling 2024-06-01 2025-05-31 SO307789 ns10:PartnerLLP1 2024-06-01 2025-05-31 SO307789 ns10:LimitedLiabilityPartnershipLLP 2024-06-01 2025-05-31 SO307789 ns10:SmallEntities 2024-06-01 2025-05-31 SO307789 ns10:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 SO307789 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 SO307789 ns10:LimitedLiabilityPartnershipsSORP 2024-06-01 2025-05-31 SO307789 ns10:FullAccounts 2024-06-01 2025-05-31 SO307789 1 2024-06-01 2025-05-31 SO307789 ns10:PartnerLLP2 2024-06-01 2025-05-31 SO307789 ns10:PartnerLLP3 2024-06-01 2025-05-31 SO307789 ns10:RegisteredOffice 2024-06-01 2025-05-31 SO307789 ns5:CurrentFinancialInstruments 2025-05-31 SO307789 ns5:CurrentFinancialInstruments 2024-05-31 SO307789 ns5:Non-currentFinancialInstruments 2025-05-31 SO307789 ns5:Non-currentFinancialInstruments 2024-05-31 SO307789 ns5:IntangibleAssetsOtherThanGoodwill 2024-06-01 2025-05-31 SO307789 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-06-01 2025-05-31 SO307789 ns5:LeaseholdImprovements 2024-06-01 2025-05-31 SO307789 ns5:MotorVehicles 2024-06-01 2025-05-31 SO307789 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 SO307789 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-05-31 SO307789 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 SO307789 ns5:LeaseholdImprovements 2024-05-31 SO307789 ns5:MotorVehicles 2024-05-31 SO307789 ns5:LeaseholdImprovements 2025-05-31 SO307789 ns5:MotorVehicles 2025-05-31 SO307789 ns5:LeaseholdImprovements 2024-05-31 SO307789 ns5:MotorVehicles 2024-05-31 SO307789 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-05-31 SO307789 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-05-31 SO307789 ns5:Secured 2025-05-31 SO307789 ns5:Secured 2024-05-31

REGISTERED NUMBER: SO307789 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

HARWESTS LLP

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page |

| General Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| HARWESTS LLP |

GENERAL INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DESIGNATED MEMBERS: | JJR Fishing Limited

| Peter & J. Johnstone Limited

| SDW Fishing Limited

| REGISTERED OFFICE: | 5-8 Bridge Street

| Peterhead

| Aberdeenshire

| AB42 1DH

| REGISTERED NUMBER: | SO307789 (Scotland)

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

BALANCE SHEET

31 MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 293,250 |  | 391,000 |  |

Tangible assets | 6 | 1,491,716 |  | 1,599,371 |  |

1,784,966 |  | 1,990,371 |  |

CURRENT ASSETS

Debtors | 7 | 45,388 |  | 18,029 |  |

Cash at bank | 8,152 |  | 51,947 |  |

53,540 |  | 69,976 |  |

CREDITORS

Amounts falling due within one year | 8 | 69,904 |  | 82,490 |  |

NET CURRENT LIABILITIES | (16,364 | ) | (12,514 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,768,602 |  | 1,977,857 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 214,559 |  | 706,688 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,554,043 |  | 1,271,169 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 1,554,043 |  | 1,271,169 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 1,554,043 |  | 1,271,169 |  |

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 May 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.

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

BALANCE SHEET - continued

31 MAY 2025

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 5 March 2026 and were signed by:

Peter & J. Johnstone Limited - Designated member

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| Harwests 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 company has adequate resources to continue in operational existence for the foreseeable future. Thus the members adopt the going concern basis of accounting in preparing the financial statements.

| Significant judgements and estimates

| In the application of the company'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 excludes value added tax.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Fishing licence and quota are being amortised evenly over their estimated useful life of five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Vessel | - | 6.25% on cost

| Motor vehicles | - | 25% on reducing balance

| 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.

| 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.

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

4. | EMPLOYEE INFORMATION

| The average number of employees during the year was NIL (2024 - NIL).

5. | INTANGIBLE FIXED ASSETS

| Fishing

| licence

| and quota

£ |

| COST

| At 1 June 2024

| and 31 May 2025 | 488,750 |  |

| AMORTISATION

| At 1 June 2024 | 97,750 |  |

| Amortisation for year | 97,750 |  |

| At 31 May 2025 | 195,500 |  |

| NET BOOK VALUE

| At 31 May 2025 | 293,250 |  |

| At 31 May 2024 | 391,000 |  |

6. | TANGIBLE FIXED ASSETS

| Motor |

| Vessel |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024

| and 31 May 2025 | 1,700,000 |  | 7,495 |  | 1,707,495 |  |

| DEPRECIATION

| At 1 June 2024 | 106,250 |  | 1,874 |  | 108,124 |  |

| Charge for year | 106,250 |  | 1,405 |  | 107,655 |  |

| At 31 May 2025 | 212,500 |  | 3,279 |  | 215,779 |  |

| NET BOOK VALUE

| At 31 May 2025 | 1,487,500 |  | 4,216 |  | 1,491,716 |  |

| At 31 May 2024 | 1,593,750 |  | 5,621 |  | 1,599,371 |  |

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

2025 | 2024 |

£ | £ |

| Other debtors | 45,388 |  | 18,029 |  |

| HARWESTS LLP (REGISTERED NUMBER: SO307789) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 60,000 |  | 60,000 |  |

| Trade creditors | 2,255 |  | 3,990 |  |

| Other creditors | 7,649 |  | 18,500 |  |

69,904 |  | 82,490 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans | 214,559 |  | 706,688 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | - |  | 466,688 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 274,559 |  | 766,688 |  |

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

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties are SDW Fishing Limited and JJR Fishing Limited.