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REGISTERED NUMBER: SO302658 (Scotland)















Unaudited Financial Statements

for the Period 1 February 2023 to 31 March 2024

for

Morton Pacitti LLP

Morton Pacitti LLP (Registered number: SO302658)






Contents of the Financial Statements
for the Period 1 February 2023 to 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Morton Pacitti LLP (Registered number: SO302658)

Balance Sheet
31 March 2024

31.3.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 956 1,242

CURRENT ASSETS
Debtors 5 64,213 62,186
Cash at bank and in hand 74,976 77,278
139,189 139,464
CREDITORS
Amounts falling due within one year 6 (38,876 ) (55,602 )
NET CURRENT ASSETS 100,313 83,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,269

85,104

CREDITORS
Amounts falling due after more than one
year

7

(9,189

)

(22,630

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

92,080

62,474

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 92,080 62,474
92,080 62,474

TOTAL MEMBERS' INTERESTS
Members' other interests 92,080 62,474

Morton Pacitti LLP (Registered number: SO302658)

Balance Sheet - continued
31 March 2024


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 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.

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 18 July 2024 and were signed by:





Mrs L A Pacitti - Designated member

Morton Pacitti LLP (Registered number: SO302658)

Notes to the Financial Statements
for the Period 1 February 2023 to 31 March 2024

1. STATUTORY INFORMATION

Morton Pacitti LLP is a limited liability partnership domiciled in Scotland, registration number SO302658. The registered office is 5 Newmarket Street, Falkirk, FK1 1JY.

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 fair value of professional services provided during the year to clients. Turnover is recognised as contract activity and the right to consideration earned. Fair value reflects the amount expected to be recoverable from clients and is based on time spent, skills and expertise provided, excluding VAT. Turnover which has been recognised but not invoiced by the balance sheet date is included within debtors.

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 etc - 33% on cost and 20% on cost

Cost represents purchase price together with any incidental costs of acquisition.

The members have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 5 (2023 - 6 ) .

Morton Pacitti LLP (Registered number: SO302658)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 31,427
Additions 1,000
At 31 March 2024 32,427
DEPRECIATION
At 1 February 2023 30,185
Charge for period 1,286
At 31 March 2024 31,471
NET BOOK VALUE
At 31 March 2024 956
At 31 January 2023 1,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.1.23
£    £   
Trade debtors 22,737 12,936
Amounts recoverable on contract 12,000 12,000
Other debtors 29,476 37,250
64,213 62,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.1.23
£    £   
Bank loans and overdrafts 12,423 10,648
Taxation and social security 21,623 32,624
Other creditors 4,830 12,330
38,876 55,602

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.1.23
£    £   
Bank loans 9,189 22,630