Registered No. SO306039 (Scotland)
Grafix Hair Studio LLP
Unaudited accounts
for the year ended 31 March 2023
Grafix Hair Studio LLP
LLP Information
for the year ended 31 March 2023
Designated members
Ms Margaret Frew
Registered Number
SO306039 (Scotland)
Registered Office
42A MAIN STREET
KILWINNING
KA13 6AQ
SCOTLAND
Accountants
Nairn Ltd
29 St Andrews Park
Troon
Ayrshire
KA10 7GQ
Grafix Hair Studio LLP
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
214
2,389
Creditors: amounts falling due within one year
(600)
(600)
Net current assets
114
2,289
Net assets attributable to members
114
2,289
Loans and other debts due to members
(34,336)
(9,056)
Other reserves
34,450
11,345
Loans and other debts due to members
(34,336)
(9,056)
Members' other interests
34,450
11,345
For the year ending 31 March 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 19 October 2023.
Ms Tracey McGarrity
Designated member
Limited Liability Partnership Registration No. SO306039
Grafix Hair Studio LLP
Notes to the Accounts
for the year ended 31 March 2023
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Grafix Hair Studio LLP is a limited liability partnership, incorporated in Scotland, registration number SO306039. Its registered office is 42A MAIN STREET, KILWINNING, KA13 6AQ, SCOTLAND.
3
Creditors: amounts falling due within one year
2023
2022
4
Loans and other debts due to members
2023
2022
Amounts due to members in respect of profits
(34,336)
(9,056)
Amounts falling due within one year
(34,336)
(9,056)
5
Average number of employees
During the year the average number of employees was 0 (2022: 0).