JUSTRIGHT SCOTLAND LLP

Company Registration Number:
SO305962 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

JUSTRIGHT SCOTLAND LLP

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

JUSTRIGHT SCOTLAND LLP

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The principal activity of the LLP in the year under review was that of provision of legal services to JustRight Scotland, a charity registered in Scotland.



Directors

The director shown below has held office during the whole of the period from
1 April 2022 to 31 March 2023

Andrew Sirel


The director shown below has held office during the period of
1 April 2022 to 7 December 2022

Kirsty Thomson


The director shown below has held office during the period of
7 December 2022 to 31 March 2023

Barbara Bolton


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 October 2023

And signed on behalf of the board by:
Name: Andrew Sirel
Status: Director

JUSTRIGHT SCOTLAND LLP

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 164,779 133,066
Cost of sales: ( 61,835 ) ( 58,897 )
Gross profit(or loss): 102,944 74,169
Administrative expenses: ( 103,977 ) ( 74,195 )
Operating profit(or loss): (1,033) (26)
Interest receivable and similar income: 1,001
Profit(or loss) before tax: (32) (26)
Profit(or loss) for the financial year: (32) (26)

JUSTRIGHT SCOTLAND LLP

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Current assets
Stocks: 3 14,763 14,513
Debtors: 4 47,668 45,372
Cash at bank and in hand: 66,664 78,744
Total current assets: 129,095 138,629
Creditors: amounts falling due within one year: 5 ( 87,270 ) ( 96,772 )
Net current assets (liabilities): 41,825 41,857
Total assets less current liabilities: 41,825 41,857
Total net assets (liabilities): 41,825 41,857
Capital and reserves
Called up share capital: 41,883 41,883
Other reserves: (58) (26 )
Total Shareholders' funds: 41,825 41,857

The notes form part of these financial statements

JUSTRIGHT SCOTLAND LLP

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 October 2023
and signed on behalf of the board by:

Name: Andrew Sirel
Status: Director

The notes form part of these financial statements

JUSTRIGHT SCOTLAND LLP

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time. If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that areclassified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net. Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due tomembers’ to the extent they exceed debts due from a specific member.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Computers 33% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

    Intangible fixed assets amortisation policy

    The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the limited liability partnership's statement of financial position whenthe limited liability partnership becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset and the net amounts presented in the financial statements whenthere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a netbasis or to realise the asset and settle the liability simultaneously.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured attransaction price including transaction costs and are subsequently carried at amortised cost using the effectiveinterest method unless the arrangement constitutes a financing transaction, where the transaction ismeasured at the present value of the future receipts discounted at a market rate of interest. Financial assetsclassified as receivable within one year are not amortised.Other financial assetsOther financial assets, including investments in equity instruments which are not subsidiaries, associates orjoint ventures, are initially measured at fair value, which is normally the transaction price. Such assets aresubsequently carried at fair value and the changes in fair value are recognised in profit or loss, except thatinvestments in equity instruments that are not publicly traded and whose fair values cannot be measuredreliably are measured at cost less impairment.Impairment of financial assetsFinancial assets, other than those held at fair value through profit and loss, are assessed for indicators ofimpairment at each reporting end date.Financial assets are impaired where there is objective evidence that, as a result of one or more events thatoccurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.If an asset is impaired, the impairment loss is the difference between the carrying amount and the presentvalue of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment lossis recognised in profit or loss.If there is a decrease in the impairment loss arising from an event occurring after the impairment wasrecognised, the impairment is reversed. The reversal is such that the current carrying amount does notexceed what the carrying amount would have been, had the impairment not previously been recognised. Theimpairment reversal is recognised in profit or loss.Derecognition of financial assetsFinancial assets are derecognised only when the contractual rights to the cash flows from the asset expire orare settled, or when the limited liability partnership transfers the financial asset and substantially all the risksand rewards of ownership to another entity, or if some significant risks and rewards of ownership are retainedbut control of the asset has transferred to another party that is able to sell the asset in its entirety to anunrelated third party.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractualarrangements entered into. An equity instrument is any contract that evidences a residual interest in theassets of the limited liability partnership after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies and preferenceshares that are classified as debt, are initially recognised at transaction price unless the arrangementconstitutes a financing transaction, where the debt instrument is measured at the present value of the futurepayments discounted at a market rate of interest. Financial liabilities classified as payable within one year arenot amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Amounts payable are classified as current liabilities if payment is due within one yearor less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially attransaction price and subsequently measured at amortised cost using the effective interest method.Other financial liabilitiesDerivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financialinstruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered intoand are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognisedin profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and thehedge is a cash flow hedge.Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured atfair value through profit or loss. Debt instruments may be designated as fair value through profit or loss toeliminate or reduce an accounting mismatch or if the instruments are measured and their performanceevaluated on a fair value basis in accordance with a documented risk management or investment strategy.Derecognition of financial liabilitiesFinancial liabilities are derecognised when the limited liability partnership’s obligations expire or aredischarged or cancelled.

    Valuation information and policy

    The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the limited liability partnership's statement of financial position whenthe limited liability partnership becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset and the net amounts presented in the financial statements whenthere is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a netbasis or to realise the asset and settle the liability simultaneously.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured attransaction price including transaction costs and are subsequently carried at amortised cost using the effectiveinterest method unless the arrangement constitutes a financing transaction, where the transaction ismeasured at the present value of the future receipts discounted at a market rate of interest. Financial assetsclassified as receivable within one year are not amortised.Other financial assetsOther financial assets, including investments in equity instruments which are not subsidiaries, associates orjoint ventures, are initially measured at fair value, which is normally the transaction price. Such assets aresubsequently carried at fair value and the changes in fair value are recognised in profit or loss, except thatinvestments in equity instruments that are not publicly traded and whose fair values cannot be measuredreliably are measured at cost less impairment.Impairment of financial assetsFinancial assets, other than those held at fair value through profit and loss, are assessed for indicators ofimpairment at each reporting end date.Financial assets are impaired where there is objective evidence that, as a result of one or more events thatoccurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.If an asset is impaired, the impairment loss is the difference between the carrying amount and the presentvalue of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment lossis recognised in profit or loss.If there is a decrease in the impairment loss arising from an event occurring after the impairment wasrecognised, the impairment is reversed. The reversal is such that the current carrying amount does notexceed what the carrying amount would have been, had the impairment not previously been recognised. Theimpairment reversal is recognised in profit or loss.Derecognition of financial assetsFinancial assets are derecognised only when the contractual rights to the cash flows from the asset expire orare settled, or when the limited liability partnership transfers the financial asset and substantially all the risksand rewards of ownership to another entity, or if some significant risks and rewards of ownership are retainedbut control of the asset has transferred to another party that is able to sell the asset in its entirety to anunrelated third party.Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractualarrangements entered into. An equity instrument is any contract that evidences a residual interest in theassets of the limited liability partnership after deducting all of its liabilities.Basic financial liabilitiesBasic financial liabilities, including creditors, bank loans, loans from fellow group companies and preferenceshares that are classified as debt, are initially recognised at transaction price unless the arrangementconstitutes a financing transaction, where the debt instrument is measured at the present value of the futurepayments discounted at a market rate of interest. Financial liabilities classified as payable within one year arenot amortised.Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Amounts payable are classified as current liabilities if payment is due within one yearor less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially attransaction price and subsequently measured at amortised cost using the effective interest method.Other financial liabilitiesDerivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financialinstruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered intoand are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognisedin profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and thehedge is a cash flow hedge.Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured atfair value through profit or loss. Debt instruments may be designated as fair value through profit or loss toeliminate or reduce an accounting mismatch or if the instruments are measured and their performanceevaluated on a fair value basis in accordance with a documented risk management or investment strategy.Derecognition of financial liabilitiesFinancial liabilities are derecognised when the limited liability partnership’s obligations expire or aredischarged or cancelled.

JUSTRIGHT SCOTLAND LLP

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

JUSTRIGHT SCOTLAND LLP

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Stocks

2023 2022
£ £
Stocks 14,763 14,513
Total 14,763 14,513

JUSTRIGHT SCOTLAND LLP

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 1 1
Other debtors 47,667 45,371
Total 47,668 45,372

JUSTRIGHT SCOTLAND LLP

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 87,270 96,772
Total 87,270 96,772

Creditor's figures above are broken down as:Taxation and social security -18,555 -2,326Other creditors 105,825 99,098Total 87,270 96,772