For the year ending 31 March 2026 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

After making enquires, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future.

The nature of the limited liability partnership's business is relatively simple and the members are able to exercise control over the expenditure where required if there is a downturn in turnover. Thus, they are confident that the limited liability partnership will be able to continue to meet its financial obligations, as and when they fall due.

In view of the foregoing, the financial statements have been prepared on a going concern basis.

Revenue from fishing activities is recognised to the extent that the limited liability partnership obtains the right to consideration on the date such activities take place. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

The taxation payable on the LLP's profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of its members. Consequently, neither LLP 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 statement of financial position within loans and other debts due to members, or are set against amounts due from members as appropriate.

Depreciation is provided on tangible fixed assets except land so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

The LLP operates a defined contribution pension scheme. Contributions are recognised in the income statement in the period in which they become payable in accordance with the rules of the scheme.