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REGISTERED NUMBER: OC372558 (England and Wales)









REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SCOTTSDALE IFA LLP

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


SCOTTSDALE IFA LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: B N Buchanan
S Trickett
A P Penfold





REGISTERED OFFICE: Rex House
4-12 Regent Street
London
SW1Y 4PE





REGISTERED NUMBER: OC372558 (England and Wales)





ACCOUNTANTS: Butters Gates & Company
Chartered Accountants
107 Bell Street
London
NW1 6TL

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of independent financial advisers.

DESIGNATED MEMBERS
The designated members during the year under review were:

B N Buchanan
S Trickett
A P Penfold

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £1,809,699 (2022 - £1,957,338 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





B N Buchanan - Designated member


29 August 2023

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 2,597,122 2,748,985

Cost of sales 179,646 198,700
GROSS PROFIT 2,417,476 2,550,285

Administrative expenses 608,287 592,953
OPERATING PROFIT 4 1,809,189 1,957,332

Interest receivable and similar income 510 6
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




1,809,699




1,957,338

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 118,246 37,863

CURRENT ASSETS
Debtors 6 69,999 59,007
Cash at bank 269,335 338,826
339,334 397,833
CREDITORS
Amounts falling due within one year 7 22,228 23,707
NET CURRENT ASSETS 317,106 374,126
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

435,352

411,989

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

435,352

411,989

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 435,352 411,989

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 March 2023.

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.

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

BALANCE SHEET - continued
31 MARCH 2023


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

The financial statements were approved by the members of the LLP and authorised for issue on 29 August 2023 and were signed by:




B N Buchanan - Designated member




S Trickett - Designated member


SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Scottsdale IFA LLP is registered in England and Wales. 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
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.

Turnover
Turnover represents gross commissions received in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 6 (2022 - 4 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets 19,840 12,621

SCOTTSDALE IFA LLP (REGISTERED NUMBER: OC372558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 84,475 18,000 102,475
Additions 113,368 2,302 115,670
Disposals (65,095 ) - (65,095 )
At 31 March 2023 132,748 20,302 153,050
DEPRECIATION
At 1 April 2022 54,493 10,119 64,612
Charge for year 17,294 2,546 19,840
Eliminated on disposal (49,648 ) - (49,648 )
At 31 March 2023 22,139 12,665 34,804
NET BOOK VALUE
At 31 March 2023 110,609 7,637 118,246
At 31 March 2022 29,982 7,881 37,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 4,960 -
Other debtors 14,787 14,787
Prepayments 50,252 44,220
69,999 59,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Social security and other taxes 17,667 19,146
Accrued expenses 4,561 4,561
22,228 23,707

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 435,352 411,989

Falling due within one year 435,352 411,989

Any loans and other debts due to members rank in line with other creditors.