REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 March 2024 |
for |
Barraston LLP |
REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 March 2024 |
for |
Barraston LLP |
Barraston LLP (Registered number: SO304201) |
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 |
Barraston LLP |
General Information |
For The Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
K Gilchrist |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Barraston LLP (Registered number: SO304201) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
319,480 |
313,060 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
175,500 |
169,080 |
MEMBERS' OTHER INTERESTS |
Revaluation reserve | 10 |
319,480 | 313,060 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 175,500 | 169,080 |
Members' other interests | 143,980 | 143,980 |
319,480 | 313,060 |
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. |
Barraston LLP (Registered number: SO304201) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Barraston LLP (Registered number: SO304201) |
Notes to the Financial Statements |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Barraston 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 |
Turnover |
Turnover is measured at fair value of the consideration received or receivable. |
Turnover represents the net income received through the rental of the LLP's land and buildings |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in statement of comprehensive income. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. Non-basic financial instruments, such as convertible loans, are recognised at fair value. |
Cash and cash equivalent |
Cash and cash equivalent in the statement of financial position comprise of cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account. |
Creditors |
Other creditors are recognised where the LLP has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
Other loans |
Other loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Barraston LLP (Registered number: SO304201) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2018 | 540,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans 1-2 years | 215,260 | - |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members' would rank in equal weighting in relation to other creditors |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
11. | RELATED PARTY DISCLOSURES |
The LLP received rental income from Synthetic Grass Solutions Limited, with common directors, of £16,200 during the year (2023 - £16,200). There is an outstanding debtor balance of £3,660 owed by the company at the year end date (2023 - £3,660,). |