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REGISTERED NUMBER: SO304032 (Scotland)











Unaudited Financial Statements

for the Period 1st February 2023 to 5th April 2024

for

Annandale Financial Services LLP

Annandale Financial Services LLP (Registered number: SO304032)






Contents of the Financial Statements
for the Period 1st February 2023 to 5th April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

Annandale Financial Services LLP

General Information
for the Period 1st February 2023 to 5th April 2024







DESIGNATED MEMBERS: R Proudlock
G Reid
N Coutts





REGISTERED OFFICE: 62/64 Buccleuch Street
Dumfries
DUMFRIESSHIRE
DG1 2AA





REGISTERED NUMBER: SO304032 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Annandale Financial Services LLP (Registered number: SO304032)

Balance Sheet
5th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 785,833 920,000
Tangible assets 5 13,745 16,340
799,578 936,340

CURRENT ASSETS
Debtors 6 27,777 16,353
Cash at bank and in hand 400,676 337,219
428,453 353,572
CREDITORS
Amounts falling due within one year 7 993,266 1,075,062
NET CURRENT LIABILITIES (564,813 ) (721,490 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

234,765

214,850

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

234,765

214,850

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 234,765 214,850

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 period ended 5th April 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 18th September 2024 and were signed by:





N Coutts - Designated member

Annandale Financial Services LLP (Registered number: SO304032)

Notes to the Financial Statements
for the Period 1st February 2023 to 5th April 2024

1. STATUTORY INFORMATION

Annandale Financial Services 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 represents commissions received from the provision of financial services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Pension costs and other post-retirement benefits
The LLP makes contributions into a recognised UK defined contribution pension scheme. Contributions payable to this scheme are charged to the income statement in the period to which they relate.

Financial instruments
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.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Annandale Financial Services LLP (Registered number: SO304032)

Notes to the Financial Statements - continued
for the Period 1st February 2023 to 5th April 2024

3. EMPLOYEE INFORMATION

The average number of employees during the period was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 5th April 2024 1,150,000
AMORTISATION
At 1st February 2023 230,000
Charge for period 134,167
At 5th April 2024 364,167
NET BOOK VALUE
At 5th April 2024 785,833
At 31st January 2023 920,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023 47,935
Additions 319
At 5th April 2024 48,254
DEPRECIATION
At 1st February 2023 31,595
Charge for period 2,914
At 5th April 2024 34,509
NET BOOK VALUE
At 5th April 2024 13,745
At 31st January 2023 16,340

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,777 16,353

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 999 5,574
Other creditors 992,267 1,069,488
993,266 1,075,062

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Trade and other creditors rank over loans and other debts due to members.

Annandale Financial Services LLP

Report of the Accountants to the Members of
Annandale Financial Services LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 5th April 2024 set out on pages three to seven and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


18th September 2024