Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-302020-12-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SO305876 2020-12-01 2021-11-30 SO305876 2019-12-01 2020-11-30 SO305876 2021-11-30 SO305876 2020-11-30 SO305876 c:Buildings 2021-11-30 SO305876 c:Buildings 2020-11-30 SO305876 c:Buildings c:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 SO305876 c:PlantMachinery 2020-12-01 2021-11-30 SO305876 c:PlantMachinery 2021-11-30 SO305876 c:PlantMachinery 2020-11-30 SO305876 c:PlantMachinery c:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 SO305876 c:MotorVehicles 2020-12-01 2021-11-30 SO305876 c:MotorVehicles 2021-11-30 SO305876 c:MotorVehicles 2020-11-30 SO305876 c:MotorVehicles c:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 SO305876 c:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 SO305876 c:CurrentFinancialInstruments 2021-11-30 SO305876 c:CurrentFinancialInstruments 2020-11-30 SO305876 c:Non-currentFinancialInstruments 2021-11-30 SO305876 c:Non-currentFinancialInstruments 2020-11-30 SO305876 c:CurrentFinancialInstruments c:WithinOneYear 2021-11-30 SO305876 c:CurrentFinancialInstruments c:WithinOneYear 2020-11-30 SO305876 c:Non-currentFinancialInstruments c:AfterOneYear 2021-11-30 SO305876 c:Non-currentFinancialInstruments c:AfterOneYear 2020-11-30 SO305876 d:FRS102 2020-12-01 2021-11-30 SO305876 d:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 SO305876 d:FullAccounts 2020-12-01 2021-11-30 SO305876 d:LimitedLiabilityPartnershipLLP 2020-12-01 2021-11-30 SO305876 d:PartnerLLP1 2020-12-01 2021-11-30 SO305876 c:OtherCapitalInstrumentsClassifiedAsEquity 2021-11-30 SO305876 c:OtherCapitalInstrumentsClassifiedAsEquity 2020-11-30 SO305876 c:FurtherSpecificReserve3ComponentTotalEquity 2021-11-30 SO305876 c:FurtherSpecificReserve3ComponentTotalEquity 2020-11-30 iso4217:GBP xbrli:pure
Registered number: SO305876










FINAVON CASTLE WATER LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

 
FINAVON CASTLE WATER LLP
 
LLP registered number

SO305876

Registered office

Milton of Finavon HouseForfarDD8 3PY

Accountants

EQ Accountants LLP14 City QuayDundeeDD1 3JA


 
FINAVON CASTLE WATER LLP
REGISTERED NUMBER: SO305876

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
£
£

Fixed assets
  

Tangible assets
 4 
808,117
811,215

  
808,117
811,215

Current assets
  

Debtors: amounts falling due within one year
 5 
192
309

Cash at bank and in hand
  
13,550
12,286

  
13,742
12,595

Creditors: Amounts Falling Due Within One Year
 6 
(7,587)
(9,781)

Net current assets
  
 
 
6,155
 
 
2,814

Total assets less current liabilities
  
814,272
814,029

Creditors: amounts falling due after more than one year
 7 
(8,278)
(13,218)

  
805,994
800,811

  

Net assets
  
805,994
800,811


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
10,994
5,811

  
10,994
5,811

Members' other interests
  

Members' capital classified as equity
  
795,000
795,000

  
 
795,000
 
795,000

  
805,994
800,811


Total members' interests
  

Loans and other debts due to members
 8 
10,994
5,811

Members' other interests
  
795,000
795,000

  
805,994
800,811

Page 1

 
FINAVON CASTLE WATER LLP
REGISTERED NUMBER: SO305876

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 26 August 2022.




Mr A P H Andrews
Designated member

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
FINAVON CASTLE WATER LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Finavon Castle Water LLP is a limited liability partnership, incorporated in Scotland with the registration number SO305876. The registered office is Milton of Finavon House, Forfar, DD8 3PY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises income from the provision of angling services.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Government grant is loan interest on the Bounce Back Loan paid by the government. It is recongnised on a receiveable basis. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
FINAVON CASTLE WATER LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

 
2.6

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25.0% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 4

 
FINAVON CASTLE WATER LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

4.


Tangible fixed assets





Heritable property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 December 2020
795,000
13,039
11,430
819,469



At 30 November 2021

795,000
13,039
11,430
819,469



Depreciation


At 1 December 2020
-
5,396
2,858
8,254


Charge for the year on owned assets
-
955
2,143
3,098



At 30 November 2021

-
6,351
5,001
11,352



Net book value



At 30 November 2021
795,000
6,688
6,429
808,117



At 30 November 2020
795,000
7,643
8,572
811,215


5.


Debtors

2021
2020
£
£


Prepayments and accrued income
192
309

192
309


Page 5

 
FINAVON CASTLE WATER LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
1,500
625

Trade creditors
324
3,994

Other taxation and social security
284
215

Obligations under finance lease and hire purchase contracts
3,440
2,947

Wages payable
39
-

Accruals and deferred income
2,000
2,000

7,587
9,781


The obligations under finance lease and hire purchase contracts are secured over the assets to which they pertain. 


7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
5,375
6,875

Net obligations under finance leases and hire purchase contracts
2,903
6,343

8,278
13,218


The obligations under finance lease and hire purchase contracts are secured over the assets to which they pertain. 

Page 6

 
FINAVON CASTLE WATER LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

8.


Loans and other debts due to members


2021
2020
£
£



Other amounts due to members
(10,994)
(5,811)

(10,994)
(5,811)

Loans and other debts due to members may be further analysed as follows:

2021
2020
£
£



Falling due within one year
(10,994)
(5,811)

(10,994)
(5,811)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


Page 7