Silverfin false false 31/12/2025 01/01/2025 31/12/2025 ARP Fishing Limited 01/01/2016 Denholm Fishselling Limited 10/05/2023 GK Fishing Ltd 29/08/2001 Markcove Limited 06/04/2015 Steven Taylor 28 July 2026 The principal activity of the LLP during the financial year continued to be that of fishing. The partnership own and operate vessel MB Norlan BF362. SO300027 2025-12-31 SO300027 bus:Director1 2025-12-31 SO300027 bus:Director2 2025-12-31 SO300027 bus:Director3 2025-12-31 SO300027 bus:Director4 2025-12-31 SO300027 2024-12-31 SO300027 core:CurrentFinancialInstruments 2025-12-31 SO300027 core:CurrentFinancialInstruments 2024-12-31 SO300027 core:Non-currentFinancialInstruments 2025-12-31 SO300027 core:Non-currentFinancialInstruments 2024-12-31 SO300027 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 SO300027 core:PatentsTrademarksLicencesConcessionsSimilar 2025-12-31 SO300027 core:PlantMachinery 2024-12-31 SO300027 core:Vehicles 2024-12-31 SO300027 core:OtherPropertyPlantEquipment 2024-12-31 SO300027 core:PlantMachinery 2025-12-31 SO300027 core:Vehicles 2025-12-31 SO300027 core:OtherPropertyPlantEquipment 2025-12-31 SO300027 core:CurrentFinancialInstruments core:Secured 2025-12-31 SO300027 2025-01-01 2025-12-31 SO300027 bus:FilletedAccounts 2025-01-01 2025-12-31 SO300027 bus:SmallEntities 2025-01-01 2025-12-31 SO300027 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 SO300027 bus:LimitedLiabilityPartnershipLLP 2025-01-01 2025-12-31 SO300027 bus:Director1 2025-01-01 2025-12-31 SO300027 bus:Director2 2025-01-01 2025-12-31 SO300027 bus:Director3 2025-01-01 2025-12-31 SO300027 bus:Director4 2025-01-01 2025-12-31 SO300027 bus:Director5 2025-01-01 2025-12-31 SO300027 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2025-01-01 2025-12-31 SO300027 core:PlantMachinery 2025-01-01 2025-12-31 SO300027 core:PlantMachinery core:BottomRangeValue 2025-01-01 2025-12-31 SO300027 core:PlantMachinery core:TopRangeValue 2025-01-01 2025-12-31 SO300027 core:Vehicles core:TopRangeValue 2025-01-01 2025-12-31 SO300027 core:OtherPropertyPlantEquipment core:BottomRangeValue 2025-01-01 2025-12-31 SO300027 core:OtherPropertyPlantEquipment core:TopRangeValue 2025-01-01 2025-12-31 SO300027 2024-01-01 2024-12-31 SO300027 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 SO300027 core:Vehicles 2025-01-01 2025-12-31 SO300027 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 SO300027 core:Non-currentFinancialInstruments 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Company No: SO300027 (Scotland)

# MB NORLAN BF362 LLP

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH THE REGISTRAR

MB NORLAN BF362 LLP

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

Contents

MB NORLAN BF362 LLP

## BALANCE SHEET

AS AT 31 DECEMBER 2025
MB NORLAN BF362 LLP

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 369,960 |  | 399,975
Tangible assets | 5 | 3,177,092 |  | 3,361,131
|  | 3,547,052 |  | 3,761,106
Current assets |  |  |  |
Debtors | 6 | 53,583 |  | 44,081
Cash at bank and in hand |  | 152,187 |  | 135,344
|  | 205,770 |  | 179,425
Creditors: amounts falling due within one year | 7 | ( 106,736) |  | ( 86,679)
Net current assets |  | 99,034 |  | 92,746
Total assets less current liabilities |  | 3,646,086 |  | 3,853,852
Creditors: amounts falling due after more than one year | 8 | ( 748,685) |  | ( 1,053,168)
Net assets attributable to members |  | 2,897,401 |  | 2,800,684
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 128,401 |  | 31,684
|  | 128,401 |  | 31,684
Members' other interests |  |  |  |
Members' capital classified as equity |  | 2,769,000 |  | 2,769,000
|  | 2,769,000 |  | 2,769,000
|  | 2,897,401 |  | 2,800,684
Total members' interests |  |  |  |
Loans and other debts due to members |  | 128,401 |  | 31,684
Members' other interests |  | 2,769,000 |  | 2,769,000
|  | 2,897,401 |  | 2,800,684

For the financial year ending 31 December 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.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of MB Norlan BF362 LLP (registered number: SO300027) were approved and authorised for issue by the members on 28 July 2026. They were signed on its behalf by:

Steven Taylor On behalf of Denholm Fishselling Limited, Designated member |

MB NORLAN BF362 LLP

## RECONCILIATION OF MEMBERS' INTERESTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
MB NORLAN BF362 LLP

## RECONCILIATION OF MEMBERS' INTERESTS (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
--- | --- | --- | ---
| Members' capital (classified as equity) | Other amounts | Total
| £ | £ | £
Amounts due to members |  | 106,553 |
Balance at 01 January 2024 | 2,769,000 | 106,553 | 2,875,553
Members' remuneration charged as an expense, including employment and retirement benefit costs | 0 | (44,869) | (44,869)
Members' interest after result for the financial year | 2,769,000 | 61,684 | 2,830,684
Drawings | 0 | (30,000) | (30,000)
Amounts due to members |  | 31,684 |
Balance at 31 December 2024 | 2,769,000 | 31,684 | 2,800,684
Members' remuneration charged as an expense, including employment and retirement benefit costs | 0 | 151,453 | 151,453
Members' interest after result for the financial year | 2,769,000 | 183,137 | 2,952,137
Drawings | 0 | (54,736) | (54,736)
Amounts due to members |  | 128,401 |
Balance at 31 December 2025 | 2,769,000 | 128,401 | 2,897,401

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

MB NORLAN BF362 LLP

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025
MB NORLAN BF362 LLP

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

MB Norlan BF362 LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is 22 Commercial Road, Buckie, AB56 1UQ, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (SORP 2024).
The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

##### Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis 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, as the risks and rewards of ownership have transferred to the customer.

##### Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences | 15 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 25 % reducing balance
| 4 - 5 years straight line
Vehicles | 5 years straight line
Other property, plant and equipment | 5 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each reporting period end date, the LLP reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that assets may be impaired.

Financial assets
Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash held in banks.

##### Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances are measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

##### Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
Profits for the year are divided automatically.
All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 0 |  | 0

#### 3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

| 2025 |  | 2024
| Number |  | Number
Average number of members during the financial year | 5 |  | 5

#### 4. Intangible assets

| Trademarks, patents and licences |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2025 | 631,121 |  | 631,121
At 31 December 2025 | 631,121 |  | 631,121
Accumulated amortisation |  |  |
At 01 January 2025 | 231,146 |  | 231,146
Charge for the financial year | 30,015 |  | 30,015
At 31 December 2025 | 261,161 |  | 261,161
Net book value |  |  |
At 31 December 2025 | 369,960 |  | 369,960
At 31 December 2024 | 399,975 |  | 399,975

#### 5. Tangible assets

| Plant and machinery |  | Vehicles |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 293,042 |  | 39,980 |  | 3,537,585 |  | 3,870,607
Additions | 55,009 |  | 0 |  | 0 |  | 55,009
Disposals | ( 17,030) |  | 0 |  | 0 |  | ( 17,030)
At 31 December 2025 | 331,021 |  | 39,980 |  | 3,537,585 |  | 3,908,586
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 195,634 |  | 7,997 |  | 305,845 |  | 509,476
Charge for the financial year | 36,885 |  | 7,996 |  | 183,506 |  | 228,387
Disposals | ( 6,369) |  | 0 |  | 0 |  | ( 6,369)
At 31 December 2025 | 226,150 |  | 15,993 |  | 489,351 |  | 731,494
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 104,871 |  | 23,987 |  | 3,048,234 |  | 3,177,092
At 31 December 2024 | 97,408 |  | 31,983 |  | 3,231,740 |  | 3,361,131

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 51,141 |  | 43,410
Other debtors | 2,442 |  | 671
| 53,583 |  | 44,081

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 84,892 |  | 60,829
Trade creditors | 14,049 |  | 16,442
Other creditors | 7,795 |  | 9,408
| 106,736 |  | 86,679

Bank loans are secured by a bond and a floating charge.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 748,685 |  | 1,053,168

Bank loans are secured by a bond and a floating charge.

#### 9. Related party transactions

As is common in the fishing industry one of the members is also the vessel agent. At the end of the year the balance held by the agent on behalf of the LLP was £51,141 (2024: £43,241). This balance is included within trade debtors.

#### 10. Loans and other debts due to members

| 2025 |  | 2024
| £ |  | £
Amounts falling due within one year | 128,401 |  | 31,684

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.