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REGISTERED NUMBER: SO301344 (Scotland)













REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

UNITED 07 LLP

UNITED 07 LLP (REGISTERED NUMBER: SO301344)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


UNITED 07 LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: G Campbell
S J McKechnie



REGISTERED OFFICE: 18 Hillview Terrace
Cults
Aberdeen
AB15 9HJ



REGISTERED NUMBER: SO301344 (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 Paul LLP
Union Plaza
1 Union Wynd
Aberdeen
AB10 1DQ

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property rental.

DESIGNATED MEMBERS
The designated members during the year under review were:

G Campbell
S J McKechnie

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £40,634 (2022 - £35,360 profit).

MEMBERS' INTERESTS
The firm's drawings policy allows each member to draw their profit share subject to the cash requirements of the business.

Each member is required to subscribe to a capital proportion linked to his share of profit and the financing requirements of the firm. Capital is repaid to members on requirement.

ON BEHALF OF THE MEMBERS:





G Campbell - Designated member


18 September 2023

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
£    £   

TURNOVER 95,572 87,596

Cost of sales 12,281 9,782
GROSS PROFIT 83,291 77,814

Administrative expenses 42,657 42,454
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




40,634




35,360

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,444,388 1,735,000

CURRENT ASSETS
Debtors 5 1,845 2,850
Cash at bank 28,827 16,063
30,672 18,913
CREDITORS
Amounts falling due within one year 6 31,768 30,643
NET CURRENT LIABILITIES (1,096 ) (11,730 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,443,292

1,723,270

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

523,292

660,134

MEMBERS' OTHER INTERESTS
Capital accounts 920,000 920,000
Revaluation reserve 8 - 143,136
1,443,292 1,723,270

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 523,292 660,134
Members' other interests 920,000 1,063,136
1,443,292 1,723,270

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.

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

BALANCE SHEET - continued
31 MARCH 2023


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

The financial statements were approved by the members of the LLP and authorised for issue on 18 September 2023 and were signed by:





S J McKechnie - Designated member

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

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

1. STATUTORY INFORMATION

United 07 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.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,735,000
Revaluations (290,612 )
At 31 March 2023 1,444,388
NET BOOK VALUE
At 31 March 2023 1,444,388
At 31 March 2022 1,735,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 (147,476 )
Cost 1,591,864
1,444,388

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,845 2,850

UNITED 07 LLP (REGISTERED NUMBER: SO301344)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 31,768 30,643

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

8. RESERVES
Revaluation
reserve
£   
At 1 April 2022 143,136
Revaluation adjustment (143,136 )
At 31 March 2023 -

9. RELATED PARTY DISCLOSURES

During the year City 06 LLP , a limited liability partnership in which S McKechnie is a member paid various costs on behalf of United 07 LLP. 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 creditors.

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'.