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Unaudited Financial Statements for the Year Ended 31 March 2024

for

Morrison Fairlie Property LLP

Morrison Fairlie Property LLP (Registered number: SO300887)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morrison Fairlie Property LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: P J M Fairlie
Mrs A L Fairlie





REGISTERED OFFICE: Woodend House
Craigmill
by Stirling
FK9 5PP





REGISTERED NUMBER: SO300887 (Scotland)





ACCOUNTANTS: LMC Accountants Ltd
Chartered Accountants
73 Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ

Morrison Fairlie Property LLP (Registered number: SO300887)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,216 8,819
Investment property 5 375,000 375,000
382,216 383,819

CURRENT ASSETS
Debtors 6 370 370
Cash at bank 611 611
981 981
CREDITORS
Amounts falling due within one year 7 540 2,399
NET CURRENT ASSETS/(LIABILITIES) 441 (1,418 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

382,657

382,401

Morrison Fairlie Property LLP (Registered number: SO300887)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

283,358

283,102

MEMBERS' OTHER INTERESTS
Revaluation reserve 8 99,299 99,299
382,657 382,401

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 283,358 283,102
Members' other interests 99,299 99,299
382,657 382,401

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 8 August 2024 and were signed by:





P J M Fairlie - Designated member

Morrison Fairlie Property LLP (Registered number: SO300887)

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

1. STATUTORY INFORMATION

Morrison Fairlie Property 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.

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 provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 30,582 32,056 62,638
DEPRECIATION
At 1 April 2023 23,058 30,761 53,819
Charge for year 752 851 1,603
At 31 March 2024 23,810 31,612 55,422
NET BOOK VALUE
At 31 March 2024 6,772 444 7,216
At 31 March 2023 7,524 1,295 8,819

Morrison Fairlie Property LLP (Registered number: SO300887)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 375,000
NET BOOK VALUE
At 31 March 2024 375,000
At 31 March 2023 375,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 370 370

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - (1 )
Other creditors 540 2,400
540 2,399

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 99,299