Limited Liability Partnership registration number OC301038 (England and Wales)
THE KINTYRE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE KINTYRE LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE KINTYRE LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,592
2,316
Current assets
Debtors
4
74,469
74,252
Cash at bank and in hand
5,321
17,379
79,790
91,631
Creditors: amounts falling due within one year
5
(70,922)
(71,624)
Net current assets
8,868
20,007
Total assets less current liabilities
10,460
22,323
Creditors: amounts falling due after more than one year
6
(8,167)
(17,548)
Net assets attributable to members
2,293
4,775
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
2,293
4,775

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial period ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 31 July 2024 and are signed on their behalf by:
31 July 2024
Mr D B Wilson
Designated member
Limited Liability Partnership Registration No. OC301038
THE KINTYRE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

The Kintyre LLP is a limited liability partnership incorporated in England and Wales. The registered office is First Floor Templeback, 10 Temple Back, Bristol, United Kingdom, BS1 6FL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial statements are presented for a period which is more than one year. As a result, past and future periods are not entirely comparable.

1.3
Revenue

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

THE KINTYRE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2024
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Office furniture & fittings
£
Cost
At 1 January 2023 and 31 March 2024
19,335
Depreciation and impairment
At 1 January 2023
17,019
Depreciation charged in the period
724
At 31 March 2024
17,743
Carrying amount
At 31 March 2024
1,592
At 31 December 2022
2,316
THE KINTYRE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Other debtors
74,469
74,252
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
7,000
7,000
Trade creditors
163
104
Taxation and social security
9,199
10,399
Other creditors
54,560
54,121
70,922
71,624
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
8,167
17,548
7
Loans and other debts due to members

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

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