Limited Liability Partnership Registration No. SO302137 (Scotland)
MS SCIENTIFIC SERVICES LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
MS SCIENTIFIC SERVICES LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MS SCIENTIFIC SERVICES LLP
BALANCE SHEET
AS AT 31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
2,521
513
Cash at bank and in hand
77,428
79,471
79,949
79,984
Creditors: amounts falling due within one year
4
(19,812)
(20,883)
Net current assets
60,137
59,101
Creditors: amounts falling due after more than one year
5
(23,333)
(33,333)
Net assets attributable to members
36,804
25,768
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
4,643
(875)
Other amounts
32,161
26,643
36,804
25,768

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 January 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 14 September 2023 and are signed on their behalf by:
14 September 2023
M A Semple
Designated member
Limited Liability Partnership Registration No. SO302137
MS SCIENTIFIC SERVICES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Limited liability partnership information

MS Scientific Services LLP is a limited liability partnership incorporated in Scotland. The registered office is Titanium 1, King's Inch Place, Renfrew, Renfrewshire, United Kingdom, PA4 8WF.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

1.3
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.4
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
-
0
-
0
MS SCIENTIFIC SERVICES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,521
513
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
7,200
8,505
Other creditors
2,612
2,378
19,812
20,883
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,333
33,333

 

6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

7
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
1,461
2,685
2023-01-312022-02-01false14 September 2023CCH SoftwareCCH Accounts Production 2023.100SO3021372022-02-012023-01-31SO3021372023-01-31SO302137bus:PartnerLLP22022-02-012023-01-31SO3021372021-02-012022-01-31SO302137bus:LimitedLiabilityPartnershipLLP2022-02-012023-01-31SO302137bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-31SO302137bus:FRS1022022-02-012023-01-31SO302137bus:AuditExemptWithAccountantsReport2022-02-012023-01-31SO302137bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:shares