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Registered number: SO300240
The Travel Clinic (Glasgow) LLP
Unaudited Financial Statements
For The Year Ended 31 May 2024
Murray Associates ZKI Limited
Business First
Linwood Point
Paisley
Renfrewshire
PA1 2FB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SO300240
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 63
- 63
CURRENT ASSETS
Stocks 5 - 5,380
Debtors 6 87 9,225
Cash at bank and in hand - 9,804
87 24,409
Creditors: Amounts Falling Due Within One Year 7 - (6,430 )
NET CURRENT ASSETS (LIABILITIES) 87 17,979
TOTAL ASSETS LESS CURRENT LIABILITIES 87 18,042
NET ASSETS ATTRIBUTABLE TO MEMBERS 87 18,042
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 29,392 33,131
Other amounts 19 14,235
29,411 47,366
Equity
Members' other interests
Members' capital (7,343) (7,343)
Other reserves (21,981) (21,981)
(29,324) (29,324)
87 18,042
...CONTINUED
Page 1
Page 2
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 29,411 47,366
Members' other interests (29,324) (29,324)
87 18,042
For the year ending 31 May 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Clare Henderson
Partner
28 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Travel Clinic (Glasgow) LLP is a limited liability partnership, incorporated in Scotland, registred number SO300240. The Registered Office is 5 West Wing, St James Business Centre Linwood, Paisley Renfrewshire, PA3 3AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss Account as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.7. Division of profits
Profits are treated as being available for discretionary divison only if the LLP has as unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under members'remuneration charged as an expenses in the profit and loss account.
2.8. Member's capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the llp to repay the capital to members, even if that obligation is conditional.
2.9. Registrar Filing Requirements
The LLP has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, members report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 6,376
As at 31 May 2024 6,376
Depreciation
As at 1 June 2023 6,313
Provided during the period 63
As at 31 May 2024 6,376
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 63
5. Stocks
2024 2023
£ £
Materials - 5,380
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 6,247
Prepayments and accrued income - 866
VAT 10 2,112
Other taxes and social security 77 -
87 9,225
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 2,548
Other taxes and social security - 141
Accruals and deferred income - 3,741
- 6,430
Page 5