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REGISTERED NUMBER: SO303818 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

J & H Mitchell LLP

J & H Mitchell LLP (Registered number: SO303818)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


J & H Mitchell LLP (Registered number: SO303818)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,734 18,595

CURRENT ASSETS
Debtors 5 210,344 247,995
Cash at bank and in hand 197,285 171,340
407,629 419,335
CREDITORS
Amounts falling due within one year 6 (78,830 ) (96,152 )
NET CURRENT ASSETS 328,799 323,183
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

346,533

341,778

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

301,533

287,778

MEMBERS' OTHER INTERESTS
Capital accounts 45,000 54,000
346,533 341,778

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 301,533 287,778
Members' other interests 45,000 54,000
346,533 341,778

J & H Mitchell LLP (Registered number: SO303818)

Balance Sheet - continued
31 March 2024


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 March 2024.

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 25 July 2024 and were signed by:




P I Keith - Designated member




A A Innes - Designated member


J & H Mitchell LLP (Registered number: SO303818)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J & H Mitchell LLP is a limited liability partnership domiciled in Scotland, registration number SO303818. The registered office is 51 Atholl Road, Pitlochry, PH16 5BU.

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.

Turnover
Turnover represents the amounts receivable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), the revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The members have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Provisions
Provisions are recognised when the partnership has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 18 (2023 - 18 ) .

J & H Mitchell LLP (Registered number: SO303818)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 84,878 52,230 137,108
Additions 924 2,928 3,852
At 31 March 2024 85,802 55,158 140,960
DEPRECIATION
At 1 April 2023 73,223 45,290 118,513
Charge for year 1,828 2,885 4,713
At 31 March 2024 75,051 48,175 123,226
NET BOOK VALUE
At 31 March 2024 10,751 6,983 17,734
At 31 March 2023 11,655 6,940 18,595

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 59,184 82,270
Amounts recoverable on contract 92,906 90,546
Other debtors 58,254 75,179
210,344 247,995

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,796 6,270
Taxation and social security 63,077 68,417
Other creditors 5,957 21,465
78,830 96,152

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.