REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SUTHERLAND BARNS LLP |
REGISTERED NUMBER: |
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: |
J N Sutherland |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SUTHERLAND BARNS LLP (REGISTERED NUMBER: OC436803) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
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 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 |
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 |
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 |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
Additions |
Reclassification/transfer | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Reclassification/transfer | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) |
Other creditors |
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. |