REGISTERED NUMBER: SO301595 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Mia Jane W LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Caley Fisheries Limited

Mr J B Duthie

Bronxi Fishing Ltd.

Westyfish Ltd.

REGISTERED OFFICE:

Caley Fisheries Limited

1/3 Dalrymple Street

Fraserburgh

Aberdeenshire

AB43 9BH

REGISTERED NUMBER:

SO301595 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Intangible assets

4

252,000

281,400

Tangible assets

5

633,383

687,914

885,383

969,314

CURRENT ASSETS

Debtors

6

134,111

140,191

Cash at bank

1,118

658

135,229

140,849

CREDITORS

Amounts falling due within one year

7

519,741

619,278

NET CURRENT LIABILITIES

(384,512

)

(478,429

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

500,871

490,885

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

36,625

26,639

MEMBERS' OTHER INTERESTS

Capital accounts

464,246

464,246

500,871

490,885

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

36,625

26,639

Members' other interests

464,246

464,246

Amounts due from members

6

(131,747

)

(136,785

)

369,124

354,100

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 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 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 29 October 2026 and were signed by:

Westyfish Ltd. - Designated member

1.	STATUTORY INFORMATION

Mia Jane W LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts receivable for fish sold and other fishing related income, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

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 are being amortised evenly over their estimated useful life of sixteen years.

Fishing quota are being amortised evenly over their estimated useful life of ten years.

The amortisation policy on the fishing licence was amended from 10% to 6.25% on 1st January 2022 to better reflect the expected useful life. The reduction in amortisation charge on an annual basis as a result of the change is £12,600.

Tangible fixed assets

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

Fishing vessel

-

6.25% on cost

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Fishing

Fishing

licence

quota

Totals

£

£

£

COST OR VALUATION

At 1 January 2025

and 31 December 2025

336,000

84,000

420,000

AMORTISATION

At 1 January 2025

63,000

75,600

138,600

Amortisation for year

21,000

8,400

29,400

At 31 December 2025

84,000

84,000

168,000

NET BOOK VALUE

At 31 December 2025

252,000

-

252,000

At 31 December 2024

273,000

8,400

281,400

The fishing licence carrying value includes a revaluation element of £97,488 following revaluation of the licence in the 2021 financial year.

5.	TANGIBLE FIXED ASSETS

Fishing

Motor

vessel

vehicles

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

820,000

19,995

839,995

DEPRECIATION

At 1 January 2025

145,208

6,873

152,081

Charge for year

51,250

3,281

54,531

At 31 December 2025

196,458

10,154

206,612

NET BOOK VALUE

At 31 December 2025

623,542

9,841

633,383

At 31 December 2024

674,792

13,122

687,914

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Amounts due from members

131,747

136,785

VAT

1,993

1,244

Prepayments

371

2,162

134,111

140,191

Amounts due from members represent the net combined balances of the members Current Accounts.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Loans

-

16,500

Trade creditors

9,186

15,257

Agents balance

507,855

584,821

Accrued expenses

2,700

2,700

519,741

619,278

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members will not seek to draw their capital balances unless there are sufficient reserves to satisfy all creditors as they fall due.