Anderson's Harbour Cottages LLP SO306787 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is furnished holiday letting. Digita Accounts Production Advanced 6.30.9574.0 true SO306787 2023-04-01 2024-03-31 SO306787 2024-03-31 SO306787 core:CurrentFinancialInstruments 2024-03-31 SO306787 core:Non-currentFinancialInstruments 2024-03-31 SO306787 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SO306787 core:WithinOneYear 2024-03-31 SO306787 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SO306787 core:MotorVehicles 2024-03-31 SO306787 core:PlantMachinery 2024-03-31 SO306787 bus:SmallEntities 2023-04-01 2024-03-31 SO306787 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SO306787 bus:FilletedAccounts 2023-04-01 2024-03-31 SO306787 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SO306787 bus:RegisteredOffice 2023-04-01 2024-03-31 SO306787 bus:PartnerLLP1 2023-04-01 2024-03-31 SO306787 bus:PartnerLLP2 2023-04-01 2024-03-31 SO306787 bus:PartnerLLP3 2023-04-01 2024-03-31 SO306787 bus:PartnerLLP4 2023-04-01 2024-03-31 SO306787 bus:PartnerLLP5 2023-04-01 2024-03-31 SO306787 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 SO306787 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SO306787 core:MotorVehicles 2023-04-01 2024-03-31 SO306787 core:PlantMachinery 2023-04-01 2024-03-31 SO306787 countries:AllCountries 2023-04-01 2024-03-31 SO306787 2023-03-31 SO306787 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SO306787 core:MotorVehicles 2023-03-31 SO306787 core:PlantMachinery 2023-03-31 SO306787 2022-04-01 2023-03-31 SO306787 2023-03-31 SO306787 core:CurrentFinancialInstruments 2023-03-31 SO306787 core:Non-currentFinancialInstruments 2023-03-31 SO306787 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SO306787 core:WithinOneYear 2023-03-31 SO306787 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SO306787 core:MotorVehicles 2023-03-31 SO306787 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: SO306787

Anderson's Harbour Cottages LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Anderson's Harbour Cottages LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Notes to the Financial Statements

4

 

Anderson's Harbour Cottages LLP

Limited liability partnership information

Designated members

Mrs Rosemary Anderson

Mr Richard Anderson
 

Members

Ms Sarah-Stone Anderson

Ms Storm Anderson

Mr John Anderson
 

Registered office

Ridgeways
Back Road
Stromness
Orkney
KW16 3DS

Principal place of business

40 Alfred Street
Stromness
Orkney
KW16 3DF

Accountants

Gray Associates
Ridgeways
Back Road
Stromness
Orkney
KW16 3DS

 

Anderson's Harbour Cottages LLP

(Registration number: SO306787)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

613,420

616,284

Current assets

 

Debtors

4

11,251

11,251

Cash and short-term deposits

 

8,664

6,499

 

19,915

17,750

Creditors: Amounts falling due within one year

5

(1,885)

(1,795)

Net current assets

 

18,030

15,955

Total assets less current liabilities

 

631,450

632,239

Creditors: Amounts falling due after more than one year

6

(98,202)

(112,808)

Net assets attributable to members

 

533,248

519,431

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

(9,161)

(6,980)

Members’ other interests

 

Members' capital classified as equity

 

542,409

526,411

   

533,248

519,431

Total members' interests

 

Loans and other debts due to members

 

(9,161)

(6,980)

Equity

 

542,409

526,411

   

533,248

519,431

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

 

Anderson's Harbour Cottages LLP

(Registration number: SO306787)
Balance Sheet as at 31 March 2024

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

The financial statements of Anderson's Harbour Cottages LLP (registered number SO306787) were approved by the Board and authorised for issue on 7 August 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr Richard Anderson
Designated member

 

Anderson's Harbour Cottages LLP

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in Scotland under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Anderson's Harbour Cottages LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

 

Anderson's Harbour Cottages LLP

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

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

Reducing balance - 25%

Motor vehicles

Reducing balance - 25%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

All debts due to Members rank behind other creditors.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 5 (2023 - 5).

 

Anderson's Harbour Cottages LLP

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

3

Tangible fixed assets

Freehold land and buildings
£

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

602,806

60,715

7,995

671,516

At 31 March 2024

602,806

60,715

7,995

671,516

Depreciation

At 1 April 2023

-

50,610

4,622

55,232

Charge for the year

-

2,021

843

2,864

At 31 March 2024

-

52,631

5,465

58,096

Net book value

At 31 March 2024

602,806

8,084

2,530

613,420

At 31 March 2023

602,806

10,105

3,373

616,284

4

Debtors

2024
£

2023
£

Other debtors

11,251

11,251

Total current trade and other debtors

11,251

11,251

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Accruals and deferred income

1,885

1,795

6

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

98,202

112,808

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.