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REGISTERED NUMBER: SO301349 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CITY 06 LLP

CITY 06 LLP (REGISTERED NUMBER: SO301349)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITY 06 LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: S J McKechnie
LS Dalgarno



REGISTERED OFFICE: 18 Hillview Terrace
Cults
Aberdeen
AB15 9HJ



REGISTERED NUMBER: SO301349 (Scotland)



ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: Bank of Scotland plc
39 Albyn Place
Aberdeen
AB10 1YN



SOLICITORS: Burness Paull LLP
Union Plaza
1 Union Wynd
Aberdeen
AB10 1DQ

CITY 06 LLP (REGISTERED NUMBER: SO301349)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,688 23,134
Investment property 5 3,933,563 4,725,000
3,951,251 4,748,134

CURRENT ASSETS
Debtors 6 36,304 33,504
Cash at bank 78,404 39,964
114,708 73,468
CREDITORS
Amounts falling due within one year 7 8,967 9,071
NET CURRENT ASSETS 105,741 64,397
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,056,992

4,812,531

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,026,992

1,782,531

MEMBERS' OTHER INTERESTS
Capital accounts 3,030,000 3,030,000
4,056,992 4,812,531

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,026,992 1,782,531
Members' other interests 3,030,000 3,030,000
4,056,992 4,812,531

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.

CITY 06 LLP (REGISTERED NUMBER: SO301349)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19 September 2023 and were signed by:





LS Dalgarno - Designated member

CITY 06 LLP (REGISTERED NUMBER: SO301349)

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

1. STATUTORY INFORMATION

City 06 LLP is registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis and 25% on a straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2022 - 2 ) .

CITY 06 LLP (REGISTERED NUMBER: SO301349)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 49,356
Additions 775
At 31 March 2023 50,131
DEPRECIATION
At 1 April 2022 26,222
Charge for year 6,221
At 31 March 2023 32,443
NET BOOK VALUE
At 31 March 2023 17,688
At 31 March 2022 23,134

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,725,000
Revaluations (791,437 )
At 31 March 2023 3,933,563
NET BOOK VALUE
At 31 March 2023 3,933,563
At 31 March 2022 4,725,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 (883,699 )
Cost 4,817,262
3,933,563

During the prior year, the investment properties were valued at market value by Allied Surveyors Scotland PLC, Chartered Surveyors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,242 3,795
Other debtors 32,062 29,709
36,304 33,504

CITY 06 LLP (REGISTERED NUMBER: SO301349)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 8,967 9,071

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 1,026,992 1,782,531

Falling due within one year 1,026,992 1,782,531

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

9. RELATED PARTY DISCLOSURES

During the year City 06 LLP paid various costs on behalf of United 07 LLP, a limited liability partnership in which S McKechnie is a member. Costs of £29,878 were recharged to United 07 LLP in the year (2022 : £28,241). At the year end £29,878 (2022 : £28,241) was outstanding and is included within debtors.

10. ULTIMATE CONTROLLING PARTY

In the opinion of the members there is no ultimate controlling party as defined by Financial Reporting Standard No 8 ' Related party disclosures'.