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REGISTERED NUMBER: SO301111 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

FOR

PIERSLAND INNS LLP

PIERSLAND INNS LLP (REGISTERED NUMBER: SO301111)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 JANUARY 2022




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PIERSLAND INNS LLP

GENERAL INFORMATION
for the year ended 31 JANUARY 2022







DESIGNATED MEMBERS: Piersland House Hotel Company Limited
K P W Kuhler



REGISTERED OFFICE: 15 Craigend Road
Troon
KA10 6HD



REGISTERED NUMBER: SO301111 (Scotland)



ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE



BANKERS: Royal Bank of Scotland plc
23 Sauchiehall Street
Glasgow
G2 3AD

PIERSLAND INNS LLP (REGISTERED NUMBER: SO301111)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 359,324 358,574
Cash at bank 150 7,006
359,474 365,580
CREDITORS
Amounts falling due within one year 4 (4,052 ) (4,952 )
NET CURRENT ASSETS 355,422 360,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,422

360,628

UNALLOCATED LOSSES 342,750 342,750
NET ASSETS ATTRIBUTABLE TO
MEMBERS

698,172

703,378

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

548,172

553,378

MEMBERS' OTHER INTERESTS
Capital accounts 150,000 150,000
698,172 703,378

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 548,172 553,378
Members' other interests 150,000 150,000
Amounts due from members (359,324 ) (358,574 )
338,848 344,804

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 January 2022.

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.

PIERSLAND INNS LLP (REGISTERED NUMBER: SO301111)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2022


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 26 August 2022 and were signed by:





Piersland House Hotel Company Limited - Designated member

PIERSLAND INNS LLP (REGISTERED NUMBER: SO301111)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 JANUARY 2022

1. STATUTORY INFORMATION

Piersland Inns LLP is registered in Scotland, registration number SO301111. The registered office is 15 Craigend Road, Troon, KA10 6HD.

The company is no longer trading.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Financial instruments
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2021 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other creditors 4,052 4,952

PIERSLAND INNS LLP (REGISTERED NUMBER: SO301111)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 JANUARY 2022

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests.