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REGISTERED NUMBER: SO301239 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ninth Avenue LLP

Ninth Avenue LLP (Registered number: SO301239)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ninth Avenue LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr G Hay
Mr S W Morrice





REGISTERED OFFICE: 2 Ogstonmill
Mill Of Fintray
Aberdeen
Aberdeenshire
AB21 0LW





REGISTERED NUMBER: SO301239 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Ninth Avenue LLP (Registered number: SO301239)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,465 4,562
Investments 5 100 100
Investment property 6 151,513 303,026
153,078 307,688

CURRENT ASSETS
Debtors 7 55 65
Cash at bank 1,920 1,046
1,975 1,111
CREDITORS
Amounts falling due within one year 8 1,751 2,675
NET CURRENT ASSETS/(LIABILITIES) 224 (1,564 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

153,302

306,124

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

153,302

306,124

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 153,302 306,124

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 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.

Ninth Avenue LLP (Registered number: SO301239)

Balance Sheet - continued
31 March 2024


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 3 October 2024 and were signed by:




Mr G Hay - Designated member




Mr S W Morrice - Designated member


Ninth Avenue LLP (Registered number: SO301239)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ninth Avenue 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.

Revenue recognition
Turnover comprises revenue recognised by the LLP in respect of rental income and consultancy services supplied during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Linen and crockery - not provided
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Members' remuneration and division of profits
The designated members determine the level of the members drawings after considering the limited liability partnership working capital needs. The members' remuneration, as set out in the Members' Agreement, is non discretionary and charged in accordance with the terms of the Membership Agreement.

Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

3. EMPLOYEE INFORMATION

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

Ninth Avenue LLP (Registered number: SO301239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Linen and Computer
fittings crockery equipment Totals
£    £    £    £   
COST
At 1 April 2023 35,885 1,338 844 38,067
Additions 335 - - 335
Disposals (17,408 ) (669 ) - (18,077 )
At 31 March 2024 18,812 669 844 20,325
DEPRECIATION
At 1 April 2023 32,661 - 844 33,505
Charge for year 949 - - 949
Eliminated on disposal (15,594 ) - - (15,594 )
At 31 March 2024 18,016 - 844 18,860
NET BOOK VALUE
At 31 March 2024 796 669 - 1,465
At 31 March 2023 3,224 1,338 - 4,562

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

The LLP's investments at the Balance Sheet date in the share capital of companies include the following:

Kingseat Development 2 Limited
Registered office: Morrison House Kingseat Business Park, Kingseat, Newmachar, Aberdeenshire, AB21 0AZ
Nature of business: Property investment and letting
%
Class of shares: holding
Ordinary B 100.00
30.6.23 30.6.22
£    £   
Aggregate capital and reserves (1,155,139 ) (1,348,937 )
(Loss)/profit for the year (193,798 ) 170,097

Ninth Avenue LLP (Registered number: SO301239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 303,026
Disposals (151,513 )
At 31 March 2024 151,513
NET BOOK VALUE
At 31 March 2024 151,513
At 31 March 2023 303,026

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 55 65

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 251 -
Other creditors 1,500 2,675
1,751 2,675

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

The balance of loans due to members rank pari passu with other unsecured creditors.

10. ULTIMATE CONTROLLING PARTY

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.