IRIS Accounts Production v23.3.1.45 SC283174 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2831742022-05-31SC2831742023-05-31SC2831742022-06-012023-05-31SC2831742021-05-31SC2831742021-06-012022-05-31SC2831742022-05-31SC283174ns10:Originalns15:Scotland2022-06-012023-05-31SC283174ns14:PoundSterlingns10:Original2022-06-012023-05-31SC283174ns10:Originalns10:Director12022-06-012023-05-31SC283174ns10:Original2022-06-012023-05-31SC283174ns10:Original2023-05-31SC283174ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-31SC283174ns10:Originalns10:SmallEntities2022-06-012023-05-31SC283174ns10:Originalns10:AuditExemptWithAccountantsReport2022-06-012023-05-31SC283174ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC283174ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-31SC283174ns10:Originalns10:FullAccounts2022-06-012023-05-31SC283174ns10:Original12022-06-012023-05-31SC283174ns10:Originalns10:Director22022-06-012023-05-31SC283174ns10:Originalns10:RegisteredOffice2022-06-012023-05-31SC283174ns10:Original2022-05-31SC283174ns10:Originalns5:CurrentFinancialInstruments2023-05-31SC283174ns10:Originalns5:CurrentFinancialInstruments2022-05-31SC283174ns5:ShareCapitalns10:Original2023-05-31SC283174ns5:ShareCapitalns10:Original2022-05-31SC283174ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-31SC283174ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC283174ns10:Originalns5:NetGoodwill2022-06-012023-05-31SC283174ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-31SC283174ns10:Originalns5:PlantMachinery2022-06-012023-05-31SC283174ns10:Originalns5:FurnitureFittings2022-06-012023-05-31SC283174ns10:Originalns5:ComputerEquipment2022-06-012023-05-31SC283174ns10:Original2021-06-012022-05-31SC283174ns10:Originalns5:NetGoodwill2022-05-31SC283174ns10:Originalns5:NetGoodwill2023-05-31SC283174ns10:Originalns5:NetGoodwill2022-05-31SC283174ns10:Originalns5:LeaseholdImprovements2022-05-31SC283174ns10:Originalns5:PlantMachinery2022-05-31SC283174ns10:Originalns5:FurnitureFittings2022-05-31SC283174ns10:Originalns5:ComputerEquipment2022-05-31SC283174ns10:Original2022-05-31SC283174ns10:Originalns5:LeaseholdImprovements2022-06-012023-05-31SC283174ns10:Originalns5:LeaseholdImprovements2023-05-31SC283174ns10:Originalns5:PlantMachinery2023-05-31SC283174ns10:Originalns5:FurnitureFittings2023-05-31SC283174ns10:Originalns5:ComputerEquipment2023-05-31SC283174ns10:Originalns5:LeaseholdImprovements2022-05-31SC283174ns10:Originalns5:PlantMachinery2022-05-31SC283174ns10:Originalns5:FurnitureFittings2022-05-31SC283174ns10:Originalns5:ComputerEquipment2022-05-31SC283174ns10:Originalns5:AdditionsToInvestments2023-05-31SC283174ns10:Originalns5:RevaluationsIncreaseDecreaseInInvestments2023-05-31SC283174ns10:Originalns5:CostValuation2023-05-31SC283174ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC283174ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31SC283174ns10:Originalns5:CurrentFinancialInstruments2022-06-012023-05-31
REGISTERED NUMBER: SC283174 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

THE STRACHAN PARTNERSHIP LTD

THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

THE STRACHAN PARTNERSHIP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: David Strachan
Mrs Grace Strachan





REGISTERED OFFICE: 37 Hay Crescent
Peterhead
Aberdeenshire
AB42 1HH





REGISTERED NUMBER: SC283174 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 98,583 104,047
Investments 6 394,295 -
492,878 104,047

CURRENT ASSETS
Debtors 7 24,814 23,183
Cash at bank 1,411,538 1,223,078
1,436,352 1,246,261
CREDITORS
Amounts falling due within one year 8 242,614 176,087
NET CURRENT ASSETS 1,193,738 1,070,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,686,616

1,174,221

PROVISIONS FOR LIABILITIES 5,803 6,709
NET ASSETS 1,680,813 1,167,512

CAPITAL AND RESERVES
Called up share capital 1,400 1,400
Retained earnings 1,679,413 1,166,112
SHAREHOLDERS' FUNDS 1,680,813 1,167,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)

BALANCE SHEET - continued
31ST MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2024 and were signed on its behalf by:





David Strachan - Director


THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

The Strachan Partnership Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 Companies Act 2006. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 68,000
AMORTISATION
At 1st June 2022
and 31st May 2023 68,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
Property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st June 2022 68,042 43,613 32,517 62,273 206,445
Additions - - - 3,449 3,449
At 31st May 2023 68,042 43,613 32,517 65,722 209,894
DEPRECIATION
At 1st June 2022 - 24,726 29,475 48,197 102,398
Charge for year - 4,722 456 3,735 8,913
At 31st May 2023 - 29,448 29,931 51,932 111,311
NET BOOK VALUE
At 31st May 2023 68,042 14,165 2,586 13,790 98,583
At 31st May 2022 68,042 18,887 3,042 14,076 104,047

THE STRACHAN PARTNERSHIP LTD (REGISTERED NUMBER: SC283174)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 280,000
Revaluations 114,295
At 31st May 2023 394,295
NET BOOK VALUE
At 31st May 2023 394,295

Cost or valuation at 31st May 2023 is represented by:

Other
investments
£   
Valuation in 2023 114,295
Cost 280,000
394,295

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 22,188 20,000
Prepayments and accrued income 2,626 3,183
24,814 23,183

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation Tax 238,831 173,278
Social security and other taxes 2,867 1,688
Other creditors 732 655
Directors' current accounts 52 84
Accrued expenses 132 382
242,614 176,087

The loan from the director is interest free with no fixed terms of repayment.

9. ULTIMATE CONTROLLING PARTY

The directors, Grace Strachan and David Strachan, are the ultimate controlling parties.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE STRACHAN PARTNERSHIP LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Strachan Partnership Ltd for the year ended 31st May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The Strachan Partnership Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Strachan Partnership Ltd and state those matters that we have agreed to state to the Board of Directors of The Strachan Partnership Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Strachan Partnership Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Strachan Partnership Ltd. You consider that The Strachan Partnership Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Strachan Partnership Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


29th January 2024