REGISTERED NUMBER: |
Culross Property Partnership LLP |
Financial Statements |
for the Year Ended 31st March 2024 |
REGISTERED NUMBER: |
Culross Property Partnership LLP |
Financial Statements |
for the Year Ended 31st March 2024 |
Culross Property Partnership LLP (Registered number: SO307212) |
Contents of the Financial Statements |
for the year ended 31st March 2024 |
Page |
General information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 5 |
Culross Property Partnership LLP |
General Information |
for the year ended 31st March 2024 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
Culross Property Partnership LLP (Registered number: SO307212) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net assets attributable to members | 155,600 | 210,401 |
Loans and other debts due to members |
8 |
155,600 |
210,401 |
Total members' interests |
Loans and other debts due to members | 8 | 155,600 | 210,401 |
Culross Property Partnership LLP (Registered number: SO307212) |
Balance Sheet - continued |
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. |
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 |
Culross Property Partnership LLP (Registered number: SO307212) |
Notes to the Financial Statements |
for the year ended 31st March 2024 |
1. | Statutory information |
Culross Property Partnership 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 |
Turnover |
Rents received is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at cost which includes its purchase price plus any directly attributable expenditure. |
Investment property is not being depreciated. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and other loans. |
Trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. |
Members remuneration |
Profits and losses are automatically divided between members in accordance with the terms of the LLP agreement, and hence there are no unallocated profits or losses. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Going concern |
The members have considered the Partnership's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the Partnership should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
3. | Employee information |
The average number of employees during the year was NIL (2023 - NIL). |
Culross Property Partnership LLP (Registered number: SO307212) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2024 |
4. | Investment property |
Total |
£ |
Cost |
At 1st April 2023 |
and 31st March 2024 |
Net book value |
At 31st March 2024 |
At 31st March 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Other creditors |
8. | Loans and other debts due to members |
Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement. |