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REGISTERED NUMBER: SO305345 (Scotland)






















Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Fluid System Technologies (Scotland)
FSTS LLP

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Fluid System Technologies (Scotland)
FSTS LLP

General Information
for the year ended 31 December 2023







DESIGNATED MEMBERS: Onee Designated Administrator Limited
Fluid System Technologies (Scotland) Limited





REGISTERED OFFICE: 19 Glasgow & Edinburgh Road
Newhouse
Motherwell
ML1 5GJ





REGISTERED NUMBER: SO305345 (Scotland)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Report of the Members
for the year ended 31 December 2023

The members present their report with the financial statements of the LLP for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of an investment partnership.

DESIGNATED MEMBERS
The designated members during the year under review were:

Onee Designated Administrator Limited
Fluid System Technologies (Scotland) Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £535 (2022 - £400 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Fluid System Technologies (Scotland) Limited - Designated member


12 September 2024

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Income Statement
for the year ended 31 December 2023

2023 2022
£ £

TURNOVER - -

Administrative expenses (535 ) (400 )
OPERATING LOSS and
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(535




)




(400




)

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
FIXED ASSETS
Debt instruments 4 1,499,000 1,499,000

CURRENT ASSETS
Debtors 8,667 8,134

CREDITORS
Amounts falling due within one year 5 (935 ) (400 )
NET CURRENT ASSETS 7,732 7,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,506,732

1,506,734

CREDITORS
Amounts falling due after more than one year 6 (7,550 ) (7,550 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,499,182

1,499,184

LOANS AND OTHER DEBTS DUE TO
MEMBERS

182

184

MEMBERS' OTHER INTERESTS
Capital accounts 1,499,000 1,499,000
1,499,182 1,499,184

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 182 184
Members' other interests 1,499,000 1,499,000
Amounts due from members (8,667 ) (8,134 )
1,490,515 1,491,050

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 December 2023.

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.

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 12 September 2024 and were signed by:





Fluid System Technologies (Scotland) Limited - Designated member

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Fluid System Technologies (Scotland) FSTS LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Basic debt instruments
Financial assets held as debt instruments are measured at amortised cost. Amortised cost is the amount initially recognised, adjusted for the cumulative amortisation using the effective interest method of any differences between the initial amount and the maturity amount, less any reduction for impairment or uncollectability.

Financial assets held as equity instruments are recognised initially at the transaction price (including transaction costs). At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss account immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.

Investment income is recognised in the financial statements when the LLP becomes entitled to its share of profits from the financial instrument.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. DEBT INSTRUMENTS
Other
investments
£
COST
At 1 January 2023
and 31 December 2023 1,499,000
NET BOOK VALUE
At 31 December 2023 1,499,000
At 31 December 2022 1,499,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other creditors 935 400

Amount owed to group undertakings are interest free and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings 7,550 7,550

Fluid System Technologies (Scotland)
FSTS LLP (Registered number: SO305345)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. ULTIMATE CONTROLLING PARTY

The controlling party is Fluid System Technologies (Scotland) Limited .