Silverfin false 31/05/2024 24/05/2023 31/05/2024 A E T Kinneir 24/05/2023 S R Kinneir 24/05/2023 W L Kinneir 24/05/2023 28 October 2024 OC447475 2024-05-31 OC447475 bus:Director1 2024-05-31 OC447475 bus:Director2 2024-05-31 OC447475 bus:Director3 2024-05-31 OC447475 core:CurrentFinancialInstruments 2024-05-31 OC447475 core:Non-currentFinancialInstruments 2024-05-31 OC447475 2023-05-23 OC447475 2023-05-24 2024-05-31 OC447475 bus:FullAccounts 2023-05-24 2024-05-31 OC447475 bus:SmallEntities 2023-05-24 2024-05-31 OC447475 bus:AuditExemptWithAccountantsReport 2023-05-24 2024-05-31 OC447475 bus:LimitedLiabilityPartnershipLLP 2023-05-24 2024-05-31 OC447475 bus:Director1 2023-05-24 2024-05-31 OC447475 bus:Director2 2023-05-24 2024-05-31 OC447475 bus:Director3 2023-05-24 2024-05-31 OC447475 core:Non-currentFinancialInstruments 2023-05-24 2024-05-31 iso4217:GBP xbrli:pure

Company No: OC447475 (England and Wales)

TRSN LLP

Unaudited Financial Statements
For the financial period from 24 May 2023 to 31 May 2024
Pages for filing with the registrar

TRSN LLP

Unaudited Financial Statements

For the financial period from 24 May 2023 to 31 May 2024

Contents

TRSN LLP

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
TRSN LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 31.05.2024
£
Fixed assets
Investment property 3 2,483,151
2,483,151
Current assets
Debtors 4 14,657
Cash at bank and in hand 123,203
137,860
Creditors: amounts falling due within one year 5 ( 64,243)
Net current assets 73,617
Total assets less current liabilities 2,556,768
Creditors: amounts falling due after more than one year 6 ( 250,500)
Net assets attributable to members 2,306,268
Represented by
Members' other interests
Members' capital classified as equity 2,255,000
Other reserves 51,268
2,306,268
2,306,268
Total members' interests
Members' other interests 2,306,268
2,306,268

For the financial period ending 31 May 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of TRSN LLP (registered number: OC447475) were approved and authorised for issue by the Board of Directors on 28 October 2024. They were signed on its behalf by:

W L Kinneir
Designated member
TRSN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 May 2023 to 31 May 2024
TRSN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 May 2023 to 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

TRSN LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

Period from
24.05.2023 to
31.05.2024
Number
Monthly average number of persons employed by the LLP during the period 3

3. Investment property

Investment property
£
Valuation
As at 24 May 2023 0
Additions 2,483,151
As at 31 May 2024 2,483,151

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

31.05.2024
£
Historic cost 2,483,151

4. Debtors

31.05.2024
£
Other debtors 14,657

5. Creditors: amounts falling due within one year

31.05.2024
£
Bank loans 33,000
Trade creditors 7,918
Accruals 3,200
Other creditors 20,125
64,243

6. Creditors: amounts falling due after more than one year

31.05.2024
£
Bank loans (secured) 250,500

The bank loans are secured on Investment properties of the LLP with a carrying value of £2,483,151.