Silverfin false 05/04/2024 06/04/2023 05/04/2024 J P Burford 23/03/2017 N P Jutton 23/03/2017 B A McGrotty 11/05/2017 D K Printer 23/03/2017 P P M Salt 23/03/2017 S J Unsworth 23/03/2017 11 November 2024 OC416517 2024-04-05 OC416517 bus:Director1 2024-04-05 OC416517 bus:Director2 2024-04-05 OC416517 bus:Director3 2024-04-05 OC416517 bus:Director4 2024-04-05 OC416517 bus:Director5 2024-04-05 OC416517 bus:Director6 2024-04-05 OC416517 2023-04-05 OC416517 core:CurrentFinancialInstruments 2024-04-05 OC416517 core:CurrentFinancialInstruments 2023-04-05 OC416517 core:Non-currentFinancialInstruments 2024-04-05 OC416517 core:Non-currentFinancialInstruments 2023-04-05 OC416517 core:LandBuildings 2023-04-05 OC416517 core:LandBuildings 2024-04-05 OC416517 core:MoreThanFiveYears 2024-04-05 OC416517 core:MoreThanFiveYears 2023-04-05 OC416517 2023-04-06 2024-04-05 OC416517 bus:FullAccounts 2023-04-06 2024-04-05 OC416517 bus:SmallEntities 2023-04-06 2024-04-05 OC416517 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 OC416517 bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC416517 bus:Director1 2023-04-06 2024-04-05 OC416517 bus:Director2 2023-04-06 2024-04-05 OC416517 bus:Director3 2023-04-06 2024-04-05 OC416517 bus:Director4 2023-04-06 2024-04-05 OC416517 bus:Director5 2023-04-06 2024-04-05 OC416517 bus:Director6 2023-04-06 2024-04-05 OC416517 2022-04-06 2023-04-05 OC416517 core:CurrentFinancialInstruments 2023-04-06 2024-04-05 OC416517 core:Non-currentFinancialInstruments 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Company No: OC416517 (England and Wales)

SCOTT BAILEY PROPERTIES LLP

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

SCOTT BAILEY PROPERTIES LLP

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

SCOTT BAILEY PROPERTIES LLP

BALANCE SHEET

As at 05 April 2024
SCOTT BAILEY PROPERTIES LLP

BALANCE SHEET (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 600,516 600,516
600,516 600,516
Current assets
Cash at bank and in hand 2,498 628
2,498 628
Creditors: amounts falling due within one year 4 ( 28,940) ( 28,031)
Net current liabilities (26,442) (27,403)
Total assets less current liabilities 574,074 573,113
Creditors: amounts falling due after more than one year 5 ( 235,502) ( 263,670)
Net assets attributable to members 338,572 309,443
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 134,692 109,054
Other amounts 29,129 25,638
163,821 134,692
Members' other interests
Members' capital classified as equity 174,751 174,751
174,751 174,751
338,572 309,443
Total members' interests
Loans and other debts due to members 163,821 134,692
Members' other interests 174,751 174,751
338,572 309,443

For the financial year ending 05 April 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 Scott Bailey Properties LLP (registered number: OC416517) were approved and authorised for issue by the Board of Directors on 11 November 2024. They were signed on its behalf by:

J P Burford
Designated member
S J Unsworth
Designated member
SCOTT BAILEY PROPERTIES LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 05 April 2024
SCOTT BAILEY PROPERTIES LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 05 April 2024
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity) Members' capital (classified as debt) Other amounts Total Total
£ £ £ £ £
Amounts due to members 87,453 21,601 109,054
Balance at 06 April 2022 174,751 87,453 21,601 109,054 283,805
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 28,338 28,338 28,338
Members' interest after result for the financial year 174,751 87,453 49,939 137,392 312,143
Drawings 0 0 (2,700) (2,700) (2,700)
Amounts due to members 109,054 25,638 134,692
Balance at 05 April 2023 174,751 109,054 25,638 134,692 309,443
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 29,129 29,129 29,129
Members' interest after result for the financial year 174,751 109,054 54,767 163,821 338,572
Allocated (profits)/losses in respect of the prior period 0 25,638 (25,638) 0 0
Amounts due to members 134,692 29,129 163,821
Balance at 05 April 2024 174,751 134,692 29,129 163,821 338,572

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

SCOTT BAILEY PROPERTIES LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
SCOTT BAILEY PROPERTIES LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

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

General information and basis of accounting

Scott Bailey Properties 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 63 High Street, Lymington, SO41 9ZT, 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 £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Profits of the LLP are automatically allocated in full to members. Accordingly, the profit attributable to members is charged as an expense in the profit and loss account. During the year, members may receive drawings on account of profits. At the year end, undrawn allocated profits of the LLP are included within loans and other debts due to members. To the extent that any payment of drawings exceeds the amount of profit ultimately to be found to be due to any member, such excess is reclaimable by the LLP and included within debtors.

Capital is repayable to a member on retirement and accordingly, is classified as a liability in the balance sheet.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 6 6

3. Tangible assets

Land and buildings Total
£ £
Cost
At 06 April 2023 600,516 600,516
At 05 April 2024 600,516 600,516
Accumulated depreciation
At 06 April 2023 0 0
At 05 April 2024 0 0
Net book value
At 05 April 2024 600,516 600,516
At 05 April 2023 600,516 600,516

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 27,319 26,470
Other creditors 1,621 1,561
28,940 28,031

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interest.

The bank loan is secured by a fixed and floating charge over all assets.

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

2024 2023
£ £
Bank loans 235,502 263,670

The bank loan is secured by a fixed and floating charge over all assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 126,225 157,789