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REGISTERED NUMBER: SO302893 (Scotland)
















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Mackintosh & Wylie LLP

Mackintosh & Wylie LLP (Registered number: SO302893)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mackintosh & Wylie LLP

General Information
for the Year Ended 30 April 2024







DESIGNATED MEMBERS: Mrs F Connolly
Miss L Murray
Mr A McDonald





REGISTERED OFFICE: 23 The Foregate
Kilmarnock
Ayrshire
KA1 1LE





REGISTERED NUMBER: SO302893 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Mackintosh & Wylie LLP (Registered number: SO302893)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 210,326 273,110
210,326 273,110

CURRENT ASSETS
Stocks 6 147,144 150,000
Debtors 7 9,056,196 8,379,920
Cash at bank and in hand 1,078,238 1,709,230
10,281,578 10,239,150
CREDITORS
Amounts falling due within one year 8 10,179,858 10,030,373
NET CURRENT ASSETS 101,720 208,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

312,046

481,887

CREDITORS
Amounts falling due after more than one
year

9

32,730

48,148
NET ASSETS ATTRIBUTABLE TO
MEMBERS

279,316

433,739

Mackintosh & Wylie LLP (Registered number: SO302893)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

208,096

295,019

MEMBERS' OTHER INTERESTS
Revaluation reserve 12 71,220 138,720
279,316 433,739

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 208,096 295,019
Members' other interests 71,220 138,720
279,316 433,739

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 30 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 15 October 2024 and were signed by:





Miss L Murray - Designated member

Mackintosh & Wylie LLP (Registered number: SO302893)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Mackintosh & Wylie LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
After reviewing the limited liability partnership's current and likely future trading performance, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The members therefore have adopted a going concern basis in preparing the financial statements.

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, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

Mackintosh & Wylie LLP (Registered number: SO302893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Land and buildings held and used in the limited liability partnership's own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease is credited to the revaluation reserve in Members' Other Interests. No taxation is provided in relation to the revaluation adjustments.

Depreciation has not been provided on the land and property, on the basis that the members consider the residual value of the property to be higher than the original cost.

Plant and equipment are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Taxation
No provision is made in the financial statements for member's tax on their profit share. Any tax paid by the LLP is charged to the member's current account when paid.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 26 (2023 - 24 ) .

Mackintosh & Wylie LLP (Registered number: SO302893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 85,777
AMORTISATION
At 1 May 2023
and 30 April 2024 85,777
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 267,500 1,800 23,146 70,454 362,900
Additions - 2,984 1,960 1,416 6,360
Revaluations (67,500 ) - - - (67,500 )
At 30 April 2024 200,000 4,784 25,106 71,870 301,760
DEPRECIATION
At 1 May 2023 - 1,497 21,725 66,568 89,790
Charge for year - 381 507 756 1,644
At 30 April 2024 - 1,878 22,232 67,324 91,434
NET BOOK VALUE
At 30 April 2024 200,000 2,906 2,874 4,546 210,326
At 30 April 2023 267,500 303 1,421 3,886 273,110

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2024 (67,500 ) - - - (67,500 )
Valuation in 2017 138,720 - - - 138,720
Cost 128,780 4,784 25,106 71,870 230,540
200,000 4,784 25,106 71,870 301,760

Freehold land and buildings were valued on an open market basis on 31 December 2023 by Graham & Sibbald LLP .

Mackintosh & Wylie LLP (Registered number: SO302893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. STOCKS
2024 2023
£    £   
Work-in-progress 147,144 150,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,433 105,755
Other debtors 8,937,763 8,274,165
9,056,196 8,379,920

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 67,867 44,445
Trade creditors 6,389 5,935
Taxation and social security 72,197 72,430
Other creditors 10,033,405 9,907,563
10,179,858 10,030,373

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,701 48,148
Other creditors 29,029 -
32,730 48,148

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 23,422 -
Bank loans 48,146 92,593
71,568 92,593

Bank borrowings are secured by a floating charge over all property and assets of the limited liability partnership.
The bounceback bank loan is supported by a 100% guarantee from the UK Government.

Mackintosh & Wylie LLP (Registered number: SO302893)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 208,096 295,019

Falling due within one year 208,096 295,019

Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital (classified as equity) rank after unsecured creditors.

12. RESERVES
Revaluation
reserve
£   
At 1 May 2023 138,720
Revaluation adjustment (67,500 )
At 30 April 2024 71,220