Registration number:
The Scolt LLP
for the Year Ended 31 March 2024
The Scolt LLP
Contents
Limited liability partnership information |
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Accountants' Report |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
The Scolt LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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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.
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306 High Street
Croydon
Surrey
CR0 1NG
The Scolt LLP
(Registration number: OC344723)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
233,794 |
189,007 |
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Members’ other interests |
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Members' capital classified as equity |
2 |
2 |
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Revaluation reserve |
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47,521 |
47,521 |
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281,315 |
236,528 |
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Total members' interests |
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Loans and other debts due to members |
233,794 |
189,007 |
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Members' other interest |
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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
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The Scolt LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
The Scolt LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Investments held as fixed assets |
2024 |
2023 |
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Other investments |
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Creditors: Amounts falling due within one year |
2024 |
2023 |
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Bank loans and overdrafts |
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Frankstock LLP |
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Accruals and deferred income |
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Taxation and social security |
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Creditors: Amounts falling due after more than one year |
2024 |
2023 |
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Bank loans and overdrafts |
- |
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Reserves |
Revaluation reserve |
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£ |
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At 1 April 2022 and March 2023 |
47,519 |
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.