Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-315truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01No description of principal activity5falsefalse SO307151 2022-04-01 2023-03-31 SO307151 2021-02-24 2022-03-31 SO307151 2023-03-31 SO307151 2022-03-31 SO307151 c:Buildings 2022-04-01 2023-03-31 SO307151 c:Buildings 2023-03-31 SO307151 c:Buildings 2022-03-31 SO307151 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:PlantMachinery 2022-04-01 2023-03-31 SO307151 c:PlantMachinery 2023-03-31 SO307151 c:PlantMachinery 2022-03-31 SO307151 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:MotorVehicles 2022-04-01 2023-03-31 SO307151 c:MotorVehicles 2023-03-31 SO307151 c:MotorVehicles 2022-03-31 SO307151 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:FurnitureFittings 2022-04-01 2023-03-31 SO307151 c:FurnitureFittings 2023-03-31 SO307151 c:FurnitureFittings 2022-03-31 SO307151 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:OfficeEquipment 2022-04-01 2023-03-31 SO307151 c:OfficeEquipment 2023-03-31 SO307151 c:OfficeEquipment 2022-03-31 SO307151 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SO307151 c:Goodwill 2022-04-01 2023-03-31 SO307151 c:Goodwill 2023-03-31 SO307151 c:Goodwill 2022-03-31 SO307151 c:CurrentFinancialInstruments 2023-03-31 SO307151 c:CurrentFinancialInstruments 2022-03-31 SO307151 c:Non-currentFinancialInstruments 2023-03-31 SO307151 c:Non-currentFinancialInstruments 2022-03-31 SO307151 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 SO307151 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 SO307151 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 SO307151 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 SO307151 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 SO307151 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 SO307151 d:FRS102 2022-04-01 2023-03-31 SO307151 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SO307151 d:FullAccounts 2022-04-01 2023-03-31 SO307151 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 SO307151 d:PartnerLLP1 2022-04-01 2023-03-31 SO307151 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 SO307151 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 SO307151 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: SO307151









EILEAN SHONA COLLECTIVE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
EILEAN SHONA COLLECTIVE LLP
REGISTERED NUMBER: SO307151

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 3 
2,240,891
2,240,891

Tangible assets
 4 
482,620
271,043

  
2,723,511
2,511,934

Current assets
  

Stocks
  
15,971
20,675

Debtors: amounts falling due within one year
 5 
40,816
10,922

Cash at bank and in hand
 6 
13,735
4,534

  
70,522
36,131

Creditors: Amounts Falling Due Within One Year
 7 
(390,830)
(316,155)

Net current liabilities
  
 
 
(320,308)
 
 
(280,024)

Total assets less current liabilities
  
2,403,203
2,231,910

Creditors: amounts falling due after more than one year
 8 
(22,500)
(28,500)

  
2,380,703
2,203,410

  

Net assets
  
2,380,703
2,203,410


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
2,380,703
2,203,410

  
 
2,380,703
 
2,203,410

  
2,380,703
2,203,410


Total members' interests
  

Members' other interests
  
2,380,703
2,203,410

  
2,380,703
2,203,410

Page 1

 
EILEAN SHONA COLLECTIVE LLP
REGISTERED NUMBER: SO307151
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




V G Branson
Designated member

Date: 14 March 2024

The notes on pages 3 to 9 form part of these financial statements.

Eilean Shona Collective LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
Page 2

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Eilean Shona Collective LLP is a limited liability partnership incorporated in England & Wales (LLP number: SO307151). The registered office is Eilean Shona House, Eilean Shona, Argyll, Scotland, PH36 4LR.
The statements are presented in Sterling, which is the functional currency of the LLP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.7

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

Page 4

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
10%
Plant and machinery
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
10%
Office equipment
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term 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.

3.


Intangible assets



Goodwill

£



Cost


At 1 April 2022
2,240,891



At 31 March 2023

2,240,891






Net book value



At 31 March 2023
2,240,891



Page 6

 


 
EILEAN SHONA COLLECTIVE LLP


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


4.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
408,151
14,375
24,413
56,071
26,430
529,440


Additions
263,230
1,887
-
1,610
27
266,754



At 31 March 2023

671,381
16,262
24,413
57,681
26,457
796,194



Depreciation


At 1 April 2022
174,919
8,569
14,713
36,223
23,972
258,396


Charge for the year on owned assets
49,374
765
2,411
2,134
494
55,178



At 31 March 2023

224,293
9,334
17,124
38,357
24,466
313,574



Net book value



At 31 March 2023
447,088
6,928
7,289
19,324
1,991
482,620

Page 7

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
37,410
3,082

Other debtors
3,069
7,840

Prepayments and accrued income
336
-

40,815
10,922



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
13,735
4,534

13,735
4,534



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
42,504
36,060

Other taxation and social security
42,076
5,537

Other creditors
275,103
270,358

Accruals and deferred income
31,147
4,200

390,830
316,155



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,500
28,500

22,500
28,500


Page 8

 
EILEAN SHONA COLLECTIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
22,500
28,500


22,500
28,500



22,500
28,500



10.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £2,477 (2022: £594). Contributions totalling £nil (2022: £1,526) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9