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REGISTERED NUMBER: SO306026 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

AGB WATSON LLP

AGB WATSON LLP (REGISTERED NUMBER: SO306026)






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




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AGB WATSON LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr A Watson
Mrs A Watson





REGISTERED OFFICE: East Mains Farmhouse
East Mains
Gordon
TD3 6JU





REGISTERED NUMBER: SO306026 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

AGB WATSON LLP (REGISTERED NUMBER: SO306026)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 8,359 8,769
Cash at bank - 670
8,359 9,439
CREDITORS
Amounts falling due within one year 5 3,359 4,439
NET CURRENT ASSETS 5,000 5,000
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

5,000

5,000

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

5,000

5,000

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 5,000 5,000
Amounts due from members (8,359 ) (8,769 )
(3,359 ) (3,769 )

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.

AGB WATSON LLP (REGISTERED NUMBER: SO306026)

STATEMENT OF FINANCIAL POSITION - 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 21 December 2024 and were signed by:





Mr A Watson - Designated member

AGB WATSON LLP (REGISTERED NUMBER: SO306026)

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

1. STATUTORY INFORMATION

AGB Watson LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

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


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
Financial assets and liabilities are recognised when the LLP becomes party to the contractual provisions of the financial instrument. The LLP holds the following basic financial instruments.

Financial assets - Cash and cash equivalents - comprise cash in hand and deposits held with banks.
Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities - Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Allocation of profits and losses
All profits of the LLP are automatically divided between the members in accordance with the terms of the LLP agreement. As a result, members' remuneration equals the profit for the period. Drawings by members on account of profits for the year, reduce the amounts due to members at the year end.

3. EMPLOYEE INFORMATION

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

AGB WATSON LLP (REGISTERED NUMBER: SO306026)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,698
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,698
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 3,359 3,359
Other creditors - 1,080
3,359 4,439

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.