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REGISTERED NUMBER: SO307319 (Scotland)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Gaunand Holdings LLP

Gaunand Holdings LLP (Registered number: SO307319)






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


Gaunand Holdings LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: J Gaunand
JM Gaunand Holdings Limited





REGISTERED OFFICE: 6/2 Chessels Court
Edinburgh
EH8 8AD





REGISTERED NUMBER: SO307319 (Scotland)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Gaunand Holdings LLP (Registered number: SO307319)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,169,000 915,000

CREDITORS
Amounts falling due within one year 5 (6,353 ) (4,793 )
NET CURRENT LIABILITIES (6,353 ) (4,793 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,162,647

910,207

CREDITORS
Amounts falling due after more than one year 6 (693,772 ) (544,936 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

468,875

365,271

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

468,875

365,271

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 468,875 365,271

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.

Gaunand Holdings LLP (Registered number: SO307319)

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 24 January 2024 and were signed by:





J Gaunand - Designated member

Gaunand Holdings LLP (Registered number: SO307319)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Gaunand Holdings 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 NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 915,000
Additions 200,000
Revaluations 54,000
At 31 March 2023 1,169,000
NET BOOK VALUE
At 31 March 2023 1,169,000
At 31 March 2022 915,000

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.

Gaunand Holdings LLP (Registered number: SO307319)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 61,000
Valuation in 2023 54,000
Cost 1,054,000
1,169,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Mortgage (see note 7) 2,592 2,593
Deposits 2,140 1,000
Accrued expenses 1,621 1,200
6,353 4,793

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage (see note 7) 693,772 544,936

Amounts falling due in more than five years:

Repayable by instalments
Mortgage more than 5yrs 683,404 534,568

7. MORTGAGE

An analysis of the maturity of mortgage is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Loans 2,592 2,593

Amounts falling due between one and two years:
Mortgage - 1 - 2 years 2,592 2,592
Mortgage - 2-5 years 7,776 7,776
10,368 10,368

Amounts falling due in more than five years:

Gaunand Holdings LLP (Registered number: SO307319)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. MORTGAGE - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Mortgage more than 5yrs 683,404 534,568

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 696,364 547,529

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 468,875 365,271

Falling due within one year 468,875 365,271

Members rank ahead of other creditors in a liquidation.