Acorah Software Products - Accounts Production 15.0.500 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 SO305228 Iain Drummond Russell Miller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO305228 2023-04-05 SO305228 2024-04-05 SO305228 2023-04-06 2024-04-05 SO305228 frs-core:CurrentFinancialInstruments 2024-04-05 SO305228 frs-core:Non-currentFinancialInstruments 2024-04-05 SO305228 frs-core:ComputerEquipment 2024-04-05 SO305228 frs-core:ComputerEquipment 2023-04-06 2024-04-05 SO305228 frs-core:ComputerEquipment 2023-04-05 SO305228 frs-core:FurnitureFittings 2024-04-05 SO305228 frs-core:FurnitureFittings 2023-04-06 2024-04-05 SO305228 frs-core:FurnitureFittings 2023-04-05 SO305228 frs-core:MotorVehicles 2024-04-05 SO305228 frs-core:MotorVehicles 2023-04-06 2024-04-05 SO305228 frs-core:MotorVehicles 2023-04-05 SO305228 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 SO305228 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-06 2024-04-05 SO305228 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 SO305228 frs-bus:SmallEntities 2023-04-06 2024-04-05 SO305228 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 SO305228 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 SO305228 frs-countries:Scotland 2023-04-06 2024-04-05 SO305228 frs-bus:PartnerLLP1 2023-04-06 2024-04-05 SO305228 frs-bus:PartnerLLP2 2023-04-06 2024-04-05 SO305228 2022-04-05 SO305228 2023-04-05 SO305228 2022-04-06 2023-04-05 SO305228 frs-core:CurrentFinancialInstruments 2023-04-05 SO305228 frs-core:Non-currentFinancialInstruments 2023-04-05
Registered number: SO305228
Reid Associates LLP
Unaudited Financial Statements
For The Year Ended 5 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SO305228
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,299 56,811
36,299 56,811
CURRENT ASSETS
Work in progress 5 37,437 19,311
Debtors 6 153,744 179,806
Cash at bank and in hand 335,260 258,157
526,441 457,274
Creditors: Amounts Falling Due Within One Year 7 (126,988 ) (127,796 )
NET CURRENT ASSETS (LIABILITIES) 399,453 329,478
TOTAL ASSETS LESS CURRENT LIABILITIES 435,752 386,289
Creditors: Amounts Falling Due After More Than One Year 8 (20,000 ) (30,000 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 415,752 356,289
REPRESENTED BY:
Equity
Members' other interests
Members' capital less drawings 103,440 29,471
Other reserves 312,312 326,818
415,752 356,289
TOTAL MEMBERS' INTEREST
Members' other interests 415,752 356,289
415,752 356,289
Page 1
Page 2
For the year ending 5 April 2024 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Russell Miller
Designated Member
29 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Reid Associates LLP is a limited liability partnership, incorporated in Scotland, registered number SO305228 . The Registered Office is 13 Sandyford Place, Glasgow, G3 7NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33.33% reducing balance
2.4. Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 13 (2023: 12)
13 12
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 6 April 2023 103,898 12,640 30,455 146,993
Additions - 335 2,868 3,203
Disposals (41,704 ) - - (41,704 )
As at 5 April 2024 62,194 12,975 33,323 108,492
Depreciation
As at 6 April 2023 53,789 11,240 25,153 90,182
Provided during the period 10,977 341 1,976 13,294
Disposals (31,283 ) - - (31,283 )
As at 5 April 2024 33,483 11,581 27,129 72,193
...CONTINUED
Page 3
Page 4
Net Book Value
As at 5 April 2024 28,711 1,394 6,194 36,299
As at 6 April 2023 50,109 1,400 5,302 56,811
5. Work in progress
2024 2023
£ £
Work in progress 37,437 19,311
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 137,031 159,028
Other debtors 16,713 20,778
153,744 179,806
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,419 7,912
Other loans 10,000 10,000
Other creditors 76,595 65,179
Taxation and social security 34,974 44,705
126,988 127,796
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 20,000 30,000
Page 4