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REGISTERED NUMBER: SO302635 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THOMAS BARRIE & CO. LLP

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THOMAS BARRIE & CO. LLP

GENERAL INFORMATION
for the year ended 31 DECEMBER 2023







DESIGNATED MEMBERS: P G Greig
G Cruickshank
M A Greig





REGISTERED OFFICE: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE





REGISTERED NUMBER: SO302635 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co.
Chartered Accountants
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 84,450 89,176
Tangible assets 5 61,694 66,688
146,144 155,864

CURRENT ASSETS
Stocks 1,099 1,101
Debtors 6 331,761 336,869
Cash at bank 26,495 23,022
359,355 360,992
CREDITORS
Amounts falling due within one year 7 (218,930 ) (164,658 )
NET CURRENT ASSETS 140,425 196,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,569

352,198

CREDITORS
Amounts falling due after more than one year 8 (14,873 ) (24,951 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

271,696

327,247

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

271,696

327,247

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 271,696 327,247

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 December 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.

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 31 January 2024 and were signed by:





M A Greig - Designated member

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Thomas Barrie & Co. LLP is registered in Scotland, registration number SO304141. The registered office is Atlantic House, 1a Cadogan Street, Glasgow, G2 6QE..

The principal activity of the LLP is Chartered Accountants.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the LLP's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Turnover
Turnover represents the value of work done in the period, excluding value added tax.

Services
Income from services is recognised when performed, such that risks and rewards have been transferred to the end client.

Goodwill
Goodwill is being written down over a 10 year period to its estimated residual value of £75,000.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 25% on reducing balance, 20% on cost and 10% on cost

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method..

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 122,258
AMORTISATION
At 1 January 2023 33,082
Charge for year 4,726
At 31 December 2023 37,808
NET BOOK VALUE
At 31 December 2023 84,450
At 31 December 2022 89,176

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 141,028
Additions 70,705
Disposals (123,303 )
At 31 December 2023 88,430
DEPRECIATION
At 1 January 2023 74,340
Charge for year 22,987
Eliminated on disposal (70,591 )
At 31 December 2023 26,736
NET BOOK VALUE
At 31 December 2023 61,694
At 31 December 2022 66,688

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 305,439 312,789
Other debtors 26,322 24,080
331,761 336,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 139,602 105,142
Hire purchase contracts 25,729 13,182
Trade creditors 2,095 1,475
Taxation and social security 40,091 33,372
Other creditors 11,413 11,487
218,930 164,658

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,873 24,951

THOMAS BARRIE & CO. LLP (REGISTERED NUMBER: SO302635)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 129,524 95,252
Bank loans 24,951 34,841
154,475 130,093

A floating charge has been granted in favour of HSBC Bank plc over the property and undertaking of the LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests.