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REGISTERED NUMBER: SO304201 (Scotland)















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: B Hamilton
Mrs M Hamilton
K Gilchrist





REGISTERED OFFICE: 7 Barraston Holdings
Torrance
Glasgow
G64 4DW





REGISTERED NUMBER: SO304201 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered 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 4 540,000 540,000

CURRENT ASSETS
Debtors 5 3,660 3,660
Cash at bank 8,267 15,437
11,927 19,097
CREDITORS
Amounts falling due within one year 6 17,187 246,037
NET CURRENT LIABILITIES (5,260 ) (226,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,740

313,060

CREDITORS
Amounts falling due after more than one
year

7

215,260

-
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 10 143,980 143,980
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 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.

Barraston LLP (Registered number: SO304201)

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 30 December 2024 and were signed by:





Mrs M Hamilton - Designated member

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
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 as modified by the revaluation of certain assets.

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 540,000
NET BOOK VALUE
At 31 March 2024 540,000
At 31 March 2023 540,000

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 3,660 3,660

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,772 242,931
Accrued expenses 1,415 3,106
17,187 246,037

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 231,032 242,931

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 143,980

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,).