REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
UNITED 07 LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6th Floor |
Gordon Chambers |
90 Mitchell Street |
Glasgow |
Lanarkshire |
G1 3NQ |
BANKERS: |
39 Albyn Place |
Aberdeen |
AB10 1YN |
SOLICITORS: |
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: |
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: |
UNITED 07 LLP (REGISTERED NUMBER: SO301344) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
UNITED 07 LLP (REGISTERED NUMBER: SO301344) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
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 |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | (290,612 | ) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
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 |
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 |
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'. |