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REGISTERED NUMBER: SO304295 (Scotland)















Unaudited Financial Statements

for the Period 1 September 2022 to 30 January 2024

for

Lochlane Property LLP

Lochlane Property LLP (Registered number: SO304295)






Contents of the Financial Statements
for the Period 1 September 2022 to 30 January 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lochlane Property LLP

General Information
for the Period 1 September 2022 to 30 January 2024







DESIGNATED MEMBERS: S Timoney
Mrs A Reid-Timoney





REGISTERED OFFICE: Playsport Center
Stewartfield Way
East Kilbride
Glasgow
Lanarkshire
G74 4GT





REGISTERED NUMBER: SO304295 (Scotland)





ACCOUNTANTS: Montroig Consultants Limited
16 Hutchison Drive
Bearsden
Glasgow
Lanarkshire
G61 2LQ

Lochlane Property LLP (Registered number: SO304295)

Balance Sheet
30 January 2024

30.1.24 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,279,907 3,165,026
Investment property 5 12,069,242 20,677,940
15,349,149 23,842,966

CURRENT ASSETS
Debtors 6 705,080 -
Cash at bank 11,164 -
716,244 -
NET CURRENT ASSETS 716,244 -
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

16,065,393

23,842,966

LOANS AND OTHER DEBTS DUE TO
MEMBERS

2

-

MEMBERS' OTHER INTERESTS
Capital accounts 23,323,686 28,623,410
Other reserves (7,258,295 ) (4,780,444 )
16,065,393 23,842,966

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 2 -
Members' other interests 16,065,391 23,842,966
16,065,393 23,842,966

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 30 January 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.

Lochlane Property LLP (Registered number: SO304295)

Balance Sheet - continued
30 January 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 28 October 2024 and were signed by:





S Timoney - Designated member

Lochlane Property LLP (Registered number: SO304295)

Notes to the Financial Statements
for the Period 1 September 2022 to 30 January 2024

1. STATUTORY INFORMATION

Lochlane Property 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 5% on reducing balance

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 4,342,039
Additions 8,271
At 30 January 2024 4,350,310
DEPRECIATION
At 1 September 2022 1,177,013
Charge for period 192,910
Eliminated on disposal (299,520 )
At 30 January 2024 1,070,403
NET BOOK VALUE
At 30 January 2024 3,279,907
At 31 August 2022 3,165,026

Lochlane Property LLP (Registered number: SO304295)

Notes to the Financial Statements - continued
for the Period 1 September 2022 to 30 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 20,677,940
Additions 1,263,939
Disposals (9,872,637 )
At 30 January 2024 12,069,242
NET BOOK VALUE
At 30 January 2024 12,069,242
At 31 August 2022 20,677,940

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 31.8.22
£    £   
Other debtors 705,080 -

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Timoney.

S Timoney holds 100% shareholding in Lochlane Investments Limited.