The Scolt LLP OC344723 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property Investment Digita Accounts Production Advanced 6.30.9574.0 OC344723 2023-04-01 2024-03-31 OC344723 2024-03-31 OC344723 core:RevaluationReserve 2024-03-31 OC344723 core:CurrentFinancialInstruments 2024-03-31 OC344723 core:Non-currentFinancialInstruments 2024-03-31 OC344723 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC344723 core:WithinOneYear 2024-03-31 OC344723 bus:SmallEntities 2023-04-01 2024-03-31 OC344723 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC344723 bus:FilletedAccounts 2023-04-01 2024-03-31 OC344723 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC344723 bus:RegisteredOffice 2023-04-01 2024-03-31 OC344723 bus:PartnerLLP1 2023-04-01 2024-03-31 OC344723 bus:PartnerLLP2 2023-04-01 2024-03-31 OC344723 bus:PartnerLLP3 2023-04-01 2024-03-31 OC344723 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC344723 bus:Agent1 2023-04-01 2024-03-31 OC344723 countries:AllCountries 2023-04-01 2024-03-31 OC344723 2022-04-01 2023-03-31 OC344723 2023-03-31 OC344723 core:RevaluationReserve 2023-03-31 OC344723 core:CurrentFinancialInstruments 2023-03-31 OC344723 core:Non-currentFinancialInstruments 2023-03-31 OC344723 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 OC344723 core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: OC344723

The Scolt LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The Scolt LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Financial Statements

3 to 6

Balance Sheet

3

Notes to the Financial Statements

5

 

The Scolt LLP

Limited liability partnership information

Designated members

Mr R W Haines

Mr A P Wesemann

Mrs R Wesemann
 

Registered office

107A Culford Road
London
United Kingdom
N1 4HT

Accountants

DSK Partners LLP
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
The Scolt LLP
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of The Scolt LLP for the year ended 31 March 2024 set out on pages 3 to 6 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of The Scolt LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Scolt LLP and state those matters that we have agreed to state to the members of The Scolt LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Scolt LLP and its members as a body for our work or for this report.

It is your duty to ensure that The Scolt LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Scolt LLP. You consider that The Scolt LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Scolt LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
D S House
306 High Street
Croydon
Surrey
CR0 1NG

31 October 2024

 

The Scolt LLP

(Registration number: OC344723)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Fixed assets

 

Investments

3

323,737

323,737

Current assets

 

Cash and short-term deposits

 

513

3,126

Creditors: Amounts falling due within one year

4

(42,935)

(65,207)

Net current liabilities

 

(42,422)

(62,081)

Total assets less current liabilities

 

281,315

261,656

Creditors: Amounts falling due after more than one year

5

-

(25,128)

Net assets attributable to members

 

281,315

236,528

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

233,794

189,007

Members’ other interests

 

Members' capital classified as equity

 

2

2

Revaluation reserve

 

47,519

47,519

 

47,521

47,521

   

281,315

236,528

Total members' interests

 

Loans and other debts due to members

 

233,794

189,007

Members' other interest

 

47,521

47,521

   

281,315

236,528

 

The Scolt LLP

(Registration number: OC344723)
Balance Sheet as at 31 March 2024

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of The Scolt LLP (registered number OC344723) were approved by the Board and authorised for issue on 31 October 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr R W Haines
Designated member

.........................................
Mrs R Wesemann
Designated member

 

The Scolt LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory Information

The Scolt LLP is registered in England and Wales. The LLP's registered number and registered office addresscan be found on the General Information page.

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

Statement of compliance

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.

General information and basis of accounting

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

 

The Scolt LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Investments held as fixed assets

2024
£

2023
£

Other investments

323,737

323,737

4

Creditors: Amounts falling due within one year

2024
 £

2023
 £

Bank loans and overdrafts

19,813

46,206

Frankstock LLP

18,630

14,550

Accruals and deferred income

2,351

2,250

Taxation and social security

2,141

2,201

42,935

65,207

5

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

-

25,128

6

Reserves

Revaluation reserve

£

At 1 April 2022 and March 2023

47,519

7

Related party transactions

Control

The LLP is under the control of its designated members, R W Haines and R Wesemann.

Transactions and Balances

The designated members of the LLP, R W Haines and R Wesemann are also designated members of Frankstock LLP and this is considered to be a related party.At 31 March 2023 the LLP owed Frankstock llp £14,550 (2022:£5,633)

Frankstock LLP has provided a guarantee for the bank loan in 2009 of £560,000 in favour of The Scolt LLP supported by a debenture in favour of Barclays Bank plc.