Aquarius Fishing Enterprises LLP - Accounts to registrar (filleted) - small 18.2
Aquarius Fishing Enterprises LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
FOR |
AQUARIUS FISHING ENTERPRISES LLP |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AQUARIUS FISHING ENTERPRISES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
BALANCE SHEET |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Investments | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
387,500 |
387,500 |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
BALANCE SHEET - continued |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 387,500 | 387,500 |
387,500 | 387,500 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 387,500 | 387,500 |
Amounts due from members | 7 | (127,984 | ) | (61,102 | ) |
259,516 | 326,398 |
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. |
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 |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
1. | STATUTORY INFORMATION |
Aquarius Fishing Enterprises 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 |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 limited liability partnership 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 limited liability partnership'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. |
The members consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities. |
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. |
Fishing licences and quota |
Fishing licences and quota are presented at valuation. No amortisation has been provided for in the year as the members believe they have an indefinite useful life. |
Tangible fixed assets |
Fishing vessel | - |
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. |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2019 - NIL). |
5. | INTANGIBLE FIXED ASSETS |
Fishing | Fishing |
licence | quota | Totals |
£ | £ | £ |
COST |
At 1 January 2020 |
and 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
6. | TANGIBLE FIXED ASSETS |
Fishing |
vessel |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
8. | CURRENT ASSET INVESTMENTS |
2020 | 2019 |
£ | £ |
Unlisted investments | 3,000 | 3,000 |
AQUARIUS FISHING ENTERPRISES LLP (REGISTERED NUMBER: SO306584) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 238,125 | 253,183 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Bank overdraft |
Bank loans |
Hire purchase contracts | 4,753 | 7,754 |
The bank holds a bond and floating charge over the business assets and a ships mortgage over the fishing vessel. |
12. | ULTIMATE CONTROLLING PARTY |
The limited liability partnership is controlled by the designated members who control the financial and operating activities of the limited liability partnership. |