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REGISTERED NUMBER: SO302329 (Scotland)















Unaudited Financial Statements

for the Period 1st May 2023 to 31st March 2024

for

McLaughlin Crolla LLP

McLaughlin Crolla LLP (Registered number: SO302329)

Contents of the Financial Statements
for the Period 1st May 2023 to 31st March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McLaughlin Crolla LLP

General Information
for the Period 1st May 2023 to 31st March 2024







DESIGNATED MEMBERS: A McLaughlin
K C Brown





REGISTERED OFFICE: 77/2 Hanover Street
Edinburgh
EH2 1EE





REGISTERED NUMBER: SO302329 (Scotland)






McLaughlin Crolla LLP (Registered number: SO302329)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 190,023 214,048

CURRENT ASSETS
Debtors 5 4,245 28,190
Cash at bank 19,147 22,977
23,392 51,167
CREDITORS
Amounts falling due within one year 6 99,623 133,810
NET CURRENT LIABILITIES (76,231 ) (82,643 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 113,792 131,405

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 113,792 131,405

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 113,792 131,405

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 31st 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 3rd October 2024 and were signed by:





A McLaughlin - Designated member

McLaughlin Crolla LLP (Registered number: SO302329)

Notes to the Financial Statements
for the Period 1st May 2023 to 31st March 2024


1. STATUTORY INFORMATION

McLaughlin Crolla 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.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years. Provision is made for any impairment.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1st May 2023
and 31st March 2024 262,100
Amortisation
At 1st May 2023 48,052
Charge for period 24,025
At 31st March 2024 72,077
Net book value
At 31st March 2024 190,023
At 30th April 2023 214,048

McLaughlin Crolla LLP (Registered number: SO302329)

Notes to the Financial Statements - continued
for the Period 1st May 2023 to 31st March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,636 28,190
Other debtors 609 -
4,245 28,190

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,156 28,995
Taxation and social security 11,582 14,815
Other creditors 82,885 90,000
99,623 133,810

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.