IRIS Accounts Production v24.1.4.33 SO303748 designated member 1.1.23 31.12.23 31.12.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSO3037482022-12-31SO3037482023-12-31SO3037482023-01-012023-12-31SO3037482021-12-31SO3037482022-01-012022-12-31SO3037482022-12-31SO303748ns15:Scotland2023-01-012023-12-31SO303748ns14:PoundSterling2023-01-012023-12-31SO303748ns10:Director12023-01-012023-12-31SO303748ns10:LimitedLiabilityPartnershipLLP2023-01-012023-12-31SO303748ns10:SmallEntities2023-01-012023-12-31SO303748ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SO303748ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SO303748ns10:LimitedLiabilityPartnershipsSORP2023-01-012023-12-31SO303748ns10:FullAccounts2023-01-012023-12-31SO303748ns10:Director22023-01-012023-12-31SO303748ns10:RegisteredOffice2023-01-012023-12-31SO303748ns5:CurrentFinancialInstruments2023-12-31SO303748ns5:CurrentFinancialInstruments2022-12-31SO303748ns5:CapitalRedemptionReserve2023-12-31SO303748ns5:CapitalRedemptionReserve2022-12-31SO303748ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-31SO303748ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31SO303748ns5:PlantMachinery2022-12-31SO303748ns5:PlantMachinery2023-12-31SO303748ns5:CostValuation2022-12-31SO303748ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: SO303748 (Scotland)



















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

McEwan Fraser Legal (Scotland) LLP

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McEwan Fraser Legal (Scotland) LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: K A McEwan
Mrs D E McEwan





REGISTERED OFFICE: Claremont House
130 East Claremont Street
Edinburg
EH7 4LB





REGISTERED NUMBER: SO303748 (Scotland)





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

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 65,222 65,222
Investment property 6 1,500,000 1,500,000
1,565,222 1,565,222

CURRENT ASSETS
Cash at bank and in hand 56,816 60,756

CREDITORS
Amounts falling due within one year 7 (1,787 ) (2,047 )
NET CURRENT ASSETS 55,029 58,709
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,620,251

1,623,931

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,176,313 1,179,983
Other reserves (15,122 ) (15,112 )
Fair value reserve 8 459,060 459,060
1,620,251 1,623,931

TOTAL MEMBERS' INTERESTS
Members' other interests 1,620,251 1,623,931

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 December 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.

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 31 July 2024 and were signed by:





K A McEwan - Designated member

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

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


1. STATUTORY INFORMATION

McEwan Fraser Legal (Scotland) 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.

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.

Tangible fixed assets
Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives, using the straight line method. The rates applicable are:

Plant and machinery - 25% on straight line

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

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


2. ACCOUNTING POLICIES - continued

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.

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,000
DEPRECIATION
At 1 January 2023
and 31 December 2023 2,000
NET BOOK VALUE
At 31 December 2023 -

5. FIXED ASSET INVESTMENTS

31.12.23 31.12.22
£    £   
Shares in group undertakings 1 1
Other investments not loans 65,221 65,221
65,222 65,222

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

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


5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£    £   
Brought forward 65,221 65,221

Investments (neither listed or unlisted) represent the company's shareholdings in Christie Roofing Limited and the company's capital account balance in McEwan Fraser Legal Services LLP.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,500,000
NET BOOK VALUE
At 31 December 2023 1,500,000
At 31 December 2022 1,500,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2015 (40,940 )
Valuation in 2017 500,000
Cost 1,040,940
1,500,000

McEwan Fraser Legal (Scotland) LLP (Registered number: SO303748)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 36 43
Taxation and social security 251 504
Other creditors 1,500 1,500
1,787 2,047

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 459,060