Registered number
SO301691
rankinfraser landscape architecture llp
Filleted Accounts
31 March 2023
rankinfraser landscape architecture llp
Registered number: SO301691
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,348 19,700
15,348 19,700
Current assets
Debtors 4 142,339 164,215
Cash at bank and in hand 212,789 130,079
355,128 294,294
Creditors: amounts falling due within one year 5 (87,000) (73,383)
Net current assets 268,128 220,911
Total assets less current liabilities 283,476 240,611
Net assets attributable to members 283,476 240,611
Represented by:
Loans and other debts due to members 6 283,476 240,611
Total members' interests
Loans and other debts due to members 6 283,476 240,611
283,476 240,611
283,476 240,611
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 30 October 2023 and signed on their behalf by:
Chris Rankin
Designated member
rankinfraser landscape architecture llp
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer and IT equiment over 3 years
Fixtures and fittings over 5 years
Bicycles over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price)
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 11 10
3 Tangible fixed assets
Furniture and fittings Computer equipment Bicycles Total
£ £ £ £
Cost
At 1 April 2022 965 107,600 6,553 115,118
Additions 70 9,211 - 9,281
At 31 March 2023 1,035 116,811 6,553 124,399
Depreciation
At 1 April 2022 853 88,013 6,552 95,418
Charge for the year 61 13,571 1 13,633
At 31 March 2023 914 101,584 6,553 109,051
Net book value
At 31 March 2023 121 15,227 - 15,348
At 31 March 2022 112 19,587 1 19,700
4 Debtors 2023 2022
£ £
Trade debtors 130,501 153,548
Other debtors 11,838 10,667
142,339 164,215
5 Creditors: amounts falling due within one year 2023 2022
£ £
Credit Card 2,122 2,502
Trade creditors 24,350 13,810
Other taxes and social security costs 36,107 28,118
Other creditors 24,421 28,953
87,000 73,383
6 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt 7,261 7,261
Amounts due to members in respect of profits 276,215 233,350
283,476 240,611
Amounts falling due within one year 283,476 240,611
283,476 240,611
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 3,175 4,330
8 Other information
rankinfraser landscape architecture llp is a limited liability partnership incorporated in Scotland Its registered office is:
8 Darnaway Street
Edinburgh
EH3 6BG
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