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REGISTERED NUMBER: SO304223 (Scotland)



















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

McEwan Fraser Legal Services LLP

McEwan Fraser Legal Services LLP (Registered number: SO304223)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McEwan Fraser Legal Services LLP

General Information
for the Year Ended 30 June 2023







DESIGNATED MEMBERS: K A McEwan
Mrs D E McEwan


REGISTERED OFFICE: Claremont House
East Claremont Street
Edinburgh
EH7 4LB


REGISTERED NUMBER: SO304223 (Scotland)


ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN


BANKERS: Clydesdale Bank plc
Festival Square
50 Lothian Road
Edinburgh
EH3 9BY

McEwan Fraser Legal Services LLP (Registered number: SO304223)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
CURRENT ASSETS
Debtors 5 1,135,388 920,847
Cash at bank and in hand 2,787,031 3,139,284
3,922,419 4,060,131
CREDITORS
Amounts falling due within one year 6 1,500 1,500
NET CURRENT ASSETS 3,920,919 4,058,631
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,920,919

4,058,631

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,968,419 4,106,131
Other reserves 7 (47,500 ) (47,500 )
3,920,919 4,058,631

TOTAL MEMBERS' INTERESTS
Members' other interests 3,920,919 4,058,631

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 30 June 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.

McEwan Fraser Legal Services LLP (Registered number: SO304223)

Balance Sheet - continued
30 June 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 21 February 2024 and were signed by:




K A McEwan - Designated member




Mrs D E McEwan - Designated member


McEwan Fraser Legal Services LLP (Registered number: SO304223)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

McEwan Fraser Legal Services 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3. EMPLOYEE INFORMATION

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

McEwan Fraser Legal Services LLP (Registered number: SO304223)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 5,250,000
AMORTISATION
At 1 July 2022
and 30 June 2023 5,250,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 1,135,388 920,847

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 1,500 1,500

7. RESERVES
Other
reserves
£   
At 1 July 2022 (47,500 )
At 30 June 2023 (47,500 )

8. RELATED PARTY DISCLOSURES

McEwan Fraser Legal is a partnership which has contracted to use the McEwan Fraser name. As at 30 June 2023 £1,128,779 (2022: £915,402) was owed from McEwan Fraser Legal.

McEwan Fraser Legal Services LLP is connected to Scot House Move Limited through common control. As at 30 June 2023 £5,455 (2022: £5,455) was owed from Scot House Move Limited.

During the period under review, licence fees of £190,000 (2022: £91,000) were charged to McEwan Fraser Services Limited.