Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr D Fisken 09/12/2013 Mr K Murphy 07/10/2013 Ms L Robb 07/10/2013 Mr P Sutherland 07/10/2013 Paul Sutherland 26 January 2024 SO304618 2023-03-31 SO304618 bus:Director1 2023-03-31 SO304618 bus:Director2 2023-03-31 SO304618 bus:Director3 2023-03-31 SO304618 bus:Director4 2023-03-31 SO304618 core:CurrentFinancialInstruments 2023-03-31 SO304618 core:CurrentFinancialInstruments 2022-03-31 SO304618 2022-03-31 SO304618 2022-04-01 2023-03-31 SO304618 bus:FullAccounts 2022-04-01 2023-03-31 SO304618 bus:SmallEntities 2022-04-01 2023-03-31 SO304618 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SO304618 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 SO304618 bus:Director1 2022-04-01 2023-03-31 SO304618 bus:Director2 2022-04-01 2023-03-31 SO304618 bus:Director3 2022-04-01 2023-03-31 SO304618 bus:Director4 2022-04-01 2023-03-31 SO304618 bus:Director5 2022-04-01 2023-03-31 SO304618 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Company No: SO304618 (Scotland)

MURPHY, ROBB & SUTHERLAND LLP

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

MURPHY, ROBB & SUTHERLAND LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

MURPHY, ROBB & SUTHERLAND LLP

BALANCE SHEET

AS AT 31 MARCH 2023
MURPHY, ROBB & SUTHERLAND LLP

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
2023 2022
£ £
Creditors: amounts falling due within one year 3 ( 6,455) ( 5,475)
Net current liabilities (6,455) (5,475)
Total assets less current liabilities (6,455) (5,475)
Net liabilities attributable to members ( 6,455) ( 5,475)
Represented by
Loans and other debts due to members within one year
Other amounts (6,455) (5,475)
(6,455) (5,475)
Members' other interests
0 0
(6,455) (5,475)
Total members' interests
Loans and other debts due to members (6,455) (5,475)
(6,455) (5,475)

For the financial year ending 31 March 2023 the LLP 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.

Members' responsibilities:

Murphy, Robb & Sutherland 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.

The financial statements of Murphy, Robb & Sutherland LLP (registered number: SO304618) were approved and authorised for issue by the Director on 26 January 2024. They were signed on its behalf by:

Paul Sutherland
Designated member
MURPHY, ROBB & SUTHERLAND LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
MURPHY, ROBB & SUTHERLAND LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Murphy, Robb & Sutherland LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is C/O JOHNSTON CARMICHAEL, First Floor 227 West George Street, Glasgow, G2 2ND, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2018 (SORP 2018).

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for services provided.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 4 2

3. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 0 220
Other creditors 6,455 5,255
6,455 5,475