Sunlight Ray 101 LLP - Accounts to registrar (filleted) - small 18.2
Sunlight Ray 101 LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2021 |
for |
Sunlight Ray 101 LLP |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Sunlight Ray 101 LLP |
General Information |
for the Year Ended 31 December 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
2 Cross Street |
Fraserburgh |
Aberdeenshire |
AB43 9EQ |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Statement of Financial Position |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
327,980 |
318,302 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
19,376 |
9,698 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 34,304 | 34,304 |
Fair value reserve | 9 |
327,980 | 318,302 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 19,376 | 9,698 |
Members' other interests | 308,604 | 308,604 |
Amounts due from members | 5 | (8,887 | ) | (10,271 | ) |
319,093 | 308,031 |
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. |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Statement of Financial Position - continued |
31 December 2021 |
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 |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Sunlight Ray 101 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 |
Turnover |
Turnover represents amounts receivable for services provided in the normal course of business and for the lease of fishing quota, 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. |
Other income includes dividends from share holdings. |
Intangible assets |
The fishing quota held was revalued in 2020 with an additional valuation uplift of £274,300 credited to the Fair Value Reserve. With effect from the 2020 financial year, the members amended the reporting policy for the fishing quota and it is now reported on a valuation basis with the market value being re-assessed at the end of each financial year. On this basis, no amortisation is charged. |
Unlisted investments |
Current asset investments represent interests in unquoted companies related to the fishing sector. The investments are stated at cost as there is no practical means of placing a market value on them without undue cost and effort. |
Debtors and creditors receivable /payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2020 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Fishing |
quota |
£ |
COST OR VALUATION |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
4. | INTANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2021 is represented by: |
Fishing |
quota |
£ |
Valuation in 2020 | 274,300 |
Cost | 24,000 |
298,300 |
The managing members re-assessed the value of the fishing quota held at 31st December 2021 and concluded to the best of their knowledge and belief that there had been no material change in the current valuation. On this basis no change was made to the reported valuation in the 2021 financial statements. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Other debtors |
Other debtors of £8,887 comprise amounts due by members per the Current Accounts Schedule. |
6. | CURRENT ASSET INVESTMENTS |
31.12.21 | 31.12.20 |
£ | £ |
Unlisted investments | 5,150 | 5,150 |
Investments represent interests in unquoted companies related to the fishing sector. The investments are stated at original cost. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Members will ensure the sufficient funds are, or will be, available to meet obligations and other creditors before any balances due to them are drawn. |
Sunlight Ray 101 LLP (Registered number: SO306441) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2021 |
and 31 December 2021 |
The fishing quota was revalued by the members in 2020 to £298,300 from an original carrying cost of £24,000 with the balance of the' Fair Value Reserve' reserve representing the unrealised gain. The managing members re-assessed the value of the fishing quota held at 31st December 2021 and concluded to the best of their knowledge and belief that there had been no material change in the reported valuation. On this basis, no adjustment was required to the Fair Value Reserve for 2021. |