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REGISTERED NUMBER: OC436803 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SUTHERLAND BARNS LLP

SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUTHERLAND BARNS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: A C Sutherland
J N Sutherland





REGISTERED OFFICE: First Floor
49 Mowlem Street
London
E2 9HE





REGISTERED NUMBER: OC436803 (England and Wales)






SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,242,383 2,063,225

CURRENT ASSETS
Stocks 5 250,478 -
Debtors 6 15,252 10,934
Cash at bank 80,950 9,033
346,680 19,967
CREDITORS
Amounts falling due within one year 7 4,199 4,200
NET CURRENT ASSETS 342,481 15,767
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,584,864

2,078,992

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,584,864

2,078,992

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,584,864 2,078,992

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 year 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.

SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)

BALANCE SHEET - continued
31 MARCH 2024


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 27 November 2024 and were signed by:





A C Sutherland - Designated member

SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Sutherland Barns LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 1,992,117 67,461 19,262 2,078,840
Additions 713,035 101,065 - 814,100
Reclassification/transfer (1,557,757 ) (37,780 ) (10,472 ) (1,606,009 )
At 31 March 2024 1,147,395 130,746 8,790 1,286,931
DEPRECIATION
At 1 April 2023 - 12,280 3,335 15,615
Charge for year - 39,105 3,984 43,089
Reclassification/transfer - (11,369 ) (2,787 ) (14,156 )
At 31 March 2024 - 40,016 4,532 44,548
NET BOOK VALUE
At 31 March 2024 1,147,395 90,730 4,258 1,242,383
At 31 March 2023 1,992,117 55,181 15,927 2,063,225

Hay Barn, Farm House and Farm Land properties have been reclassified to stock since these properties are developed with a view of selling them.

5. STOCKS
2024 2023
£    £   
Stock of properties 250,478 -

As at the financial year end, we have reclassified Hay Barn, Farm House and Farm Land as stock instead of freehold property, the reason being is that these properties have been developed with the intention of selling the properties.By the end of 31 March 2024, Hay Barn was sold.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 15,252 10,934

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) -
Other creditors 4,200 4,200
4,199 4,200

SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 1,584,864 2,078,992

Falling due within one year 1,584,864 2,078,992

Loans and other debts due to members (other than members' capital classified as debt) rank after all other debts have been paid.