REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
for |
White Hill Design Studio LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
for |
White Hill Design Studio LLP |
White Hill Design Studio LLP (Registered number: SO300531) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
White Hill Design Studio LLP |
General Information |
for the Year Ended 31st March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Dumfries Enterprise Park |
Heathhall |
Dumfries |
DUMFRIESSHIRE |
DG1 3SJ |
White Hill Design Studio LLP (Registered number: SO300531) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 101,292 | 86,280 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
101,292 |
86,280 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 101,292 | 86,280 |
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 were approved by the members of the LLP and authorised for issue on |
White Hill Design Studio LLP (Registered number: SO300531) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
White Hill Design Studio 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
Financial instruments |
Cash and bank |
Cash and bank comprises cash on hand and funds held on deposit. |
Trade debtors |
Trade debtors are amounts due from customers for the provision of services sold in the ordinary course of operations. |
Trade debtors are recognised initially at the transaction price and represent the full value of the services charged to customers, including any amounts charged on for third parties. |
Trade creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. |
Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Members' participation rights |
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits). |
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet. |
All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'. |
White Hill Design Studio LLP (Registered number: SO300531) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2023 |
Additions |
Disposals | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Loans from members | 10,000 | 10,000 |
Amounts owed to members in respect of profits | 91,292 | 76,280 |
101,292 | 86,280 |
Falling due within one year | 101,292 | 86,280 |
Trade and other creditors rank over loans and other debts due to members |
8. | RELATED PARTY DISCLOSURES |
During the year, the limited liability partnership paid rent totalling £6,000 (2023 - £3,600) to The Country Harvest. D J M Major and B J Gray are also partners in The Country Harvest. |
White Hill Design Studio LLP (Registered number: SO300531) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
9. | ULTIMATE CONTROLLING PARTY |
In the opinion of the members the limited liability partnership is controlled jointly by D J M Major and B J Gray, being the equal partners. |