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REGISTERED NUMBER: SO308081 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025

FOR

OCEAN FISHING LLP
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEAN FISHING LLP

GENERAL INFORMATION
FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025







DESIGNATED MEMBERS: Challenge Fishing Company Limited
MB Daystar BF 250 Limited





REGISTERED OFFICE: Heritage House
141 Shore Street
Fraserburgh
Aberdeenshire
AB43 9BP





REGISTERED NUMBER: SO308081 (Scotland)
Page 1
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)

BALANCE SHEET
31 DECEMBER 2025

Notes £    £   
FIXED ASSETS
Intangible assets 5 458,333
Tangible assets 6 6,752,117
Investments 7 268,589
7,479,039

CURRENT ASSETS
Debtors 8 404,379
Cash at bank 531,953
936,332
CREDITORS
Amounts falling due within one year 9 62,348
NET CURRENT ASSETS 873,984
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,353,023

CREDITORS
Amounts falling due after more than one
year
10
8,353,023
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS
-

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-

TOTAL MEMBERS' INTERESTS
Amounts due from members 8 (257,101 )

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 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 notes form part of these financial statements

Page 2 continued...
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)

BALANCE SHEET - continued
31 DECEMBER 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 7 September 2026 and were signed by:





Challenge Fishing Company Limited - Designated member

The notes form part of these financial statements

Page 3
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025

1. STATUTORY INFORMATION

Ocean 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.

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 continue to 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 quota and licence 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.

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.

Page 4 continued...
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025

3. ACCOUNTING POLICIES - continued

Taxation
No taxation has been provided in the accounts as taxation is a personal liability of the members.

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.

4. EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

5. INTANGIBLE FIXED ASSETS
Fishing
quota and
licence
£   
COST
Additions 500,000
At 31 December 2025 500,000
AMORTISATION
Amortisation for period 41,667
At 31 December 2025 41,667
NET BOOK VALUE
At 31 December 2025 458,333

6. TANGIBLE FIXED ASSETS
Fishing
vessel Motor
and gear vehicles Totals
£    £    £   
COST
Additions 7,028,188 23,600 7,051,788
At 31 December 2025 7,028,188 23,600 7,051,788
DEPRECIATION
Charge for period 298,196 1,475 299,671
At 31 December 2025 298,196 1,475 299,671
NET BOOK VALUE
At 31 December 2025 6,729,992 22,125 6,752,117

7. FIXED ASSET INVESTMENTS

Page 5 continued...
OCEAN FISHING LLP (REGISTERED NUMBER: SO308081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 OCTOBER 2024 TO 31 DECEMBER 2025
Share in
LLP
£   
New in year 318,630
Other movement (50,041 )
At 31 December 2025 268,589

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 404,379

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 46,027
Other creditors 16,321
62,348

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 8,353,023

Page 6