1 March 2022 false No description of principal activity Taxfiler 2023.10.1 SO301767business:LimitedLiabilityPartnershipLLP2022-03-012023-02-28 SO3017672022-02-28 SO3017672022-03-012023-02-28 SO301767business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 SO301767business:FullAccounts2022-03-012023-02-28 SO3017672023-02-28 SO301767business:PartnerLLP12022-03-012023-02-28 SO301767business:PartnerLLP22022-03-012023-02-28 SO301767business:RegisteredOffice2022-03-012023-02-28 SO3017672022-02-28 SO301767core:WithinOneYear2023-02-28 SO301767core:WithinOneYear2022-02-28 SO301767core:AfterOneYear2023-02-28 SO301767core:AfterOneYear2022-02-28 SO301767business:SmallEntities2022-03-012023-02-28 SO301767core:PlantMachinery2022-03-012023-02-28 SO301767countries:Scotland2022-03-012023-02-28 SO301767core:PlantMachinery2022-02-28 SO301767core:PlantMachinery2023-02-28 SO3017672021-03-012022-02-28 iso4217:GBP xbrli:pure
Registered No. SO301767 (Scotland)
Prime Fiscal LLP Unaudited accounts for the year ended 28 February 2023
Prime Fiscal LLP LLP Information for the year ended 28 February 2023
Designated members
A Bedi
R I Bedi
Registered Number
SO301767 (Scotland)
Registered Office
25 Daisy Street Glasgow G42 8JN Scotland
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Prime Fiscal LLP Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,453 
5,867 
Current assets
Debtors
17,708 
8,932 
Cash at bank and in hand
25,820 
29,847 
43,528 
38,779 
Creditors: amounts falling due within one year
(21,013)
(13,653)
Net current assets
22,515 
25,126 
Total assets less current liabilities
26,968 
30,993 
Creditors: amounts falling due after more than one year
(9,275)
(13,124)
Net assets attributable to members
17,693 
17,869 
Represented by:
Loans and other debts due to members
17,693 
17,869 
17,693 
17,869 
Total members' interests
Loans and other debts due to members
17,693 
17,869 
17,693 
17,869 
For the year ending 28 February 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 15 November 2023.
R I Bedi Designated member Limited Liability Partnership Registration No. SO301767
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Prime Fiscal LLP Notes to the Accounts for the year ended 28 February 2023
1
Accounting policies
Presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
Basis of preparing the financial statements
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line basis
Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to or from related parties.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the life of the lease.
2
Statutory information
Prime Fiscal LLP is a limited liability partnership, incorporated in Scotland, registration number SO301767. Its registered office is 25 Daisy Street, Glasgow, G42 8JN, Scotland.
3
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2022
16,378 
Additions
1,304 
At 28 February 2023
17,682 
Depreciation
At 1 March 2022
10,511 
Charge for the year
2,718 
At 28 February 2023
13,229 
Net book value
At 28 February 2023
4,453 
At 28 February 2022
5,867 
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Prime Fiscal LLP Notes to the Accounts for the year ended 28 February 2023
4
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,259 
4,259 
Trade creditors
1,699 
2,000 
Taxes and social security costs
4,596 
2,435 
Other creditors
3,441 
1,940 
Accruals
7,018 
3,019 
21,013 
13,653 
5
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,275 
13,124 
6
Loans and other debts due to members
2023 
2022 
£ 
£ 
Amounts due to members in respect of profits
17,693 
17,869 
Amounts falling due within one year
17,693 
17,869 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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