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REGISTERED NUMBER: SO306417 (Scotland)











































Sara + Sarah Smart Textile Design LLP

Unaudited Financial Statements

for the Year Ended 5th April 2024






Sara + Sarah Smart Textile Design LLP (Registered number: SO306417)






Contents of the Financial Statements
for the year ended 5th April 2024




Page

General information 1

Balance sheet 2

Notes to the financial statements 3


Sara + Sarah Smart Textile Design LLP

General Information
for the year ended 5th April 2024







Designated members: Dr S Robertson
Ms S Taylor





Registered office: 7 Main Street
Newstead
Melrose
Scottish Borders
TD6 9RR





Registered number: SO306417 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Sara + Sarah Smart Textile Design LLP (Registered number: SO306417)

Balance Sheet
5th April 2024

2024 2023
Notes £    £   
Current assets
Cash at bank 4,772 4,873
Total assets less current liabilities
and
Net assets attributable to members 4,772 4,873

Loans and other debts due to
members

4

4,772

4,873

Total members' interests
Loans and other debts due to members 4 4,772 4,873

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 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 October 2024 and were signed by:





Ms S Taylor - Designated member

Sara + Sarah Smart Textile Design LLP (Registered number: SO306417)

Notes to the Financial Statements
for the year ended 5th April 2024

1. Statutory information

Sara + Sarah Smart Textile Design 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 the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Financial instruments
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.

Going concern
The members have considered the LLP's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the LLP has adequate resources to continue in operational existence 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).

4. Loans and other debts due to members

Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement.