Registered number
SO303813
John Street (Glasgow) LLP
Filleted Accounts
31 March 2024
John Street (Glasgow) LLP
Registered number: SO303813
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,855,000 2,855,000
Current assets
Debtors 4 139,866 155,562
Cash at bank and in hand 16,519 18,082
156,385 173,644
Creditors: amounts falling due within one year 5 (224,929) (248,258)
Net current liabilities (68,544) (74,614)
Total assets less current liabilities 2,786,456 2,780,386
Creditors: amounts falling due after more than one year 6 (738,781) (847,118)
Net assets attributable to members 2,047,675 1,933,268
Represented by:
Loans and other debts due to members 7 (562,876) (562,472)
Members' other interests
Members' capital classified as equity 401,000 401,000
Revaluation reserve 557,717 557,717
Other reserves 1,651,834 1,537,023
2,610,551 2,495,740
2,047,675 1,933,268
Total members' interests
Loans and other debts due to members 7 (562,876) (562,472)
Members' other interests 2,610,551 2,495,740
2,047,675 1,933,268
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 15 January 2025 and signed on their behalf by:
Stuart Wilson
Designated member
John Street (Glasgow) LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Members' 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 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 2,855,000
At 31 March 2024 2,855,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 2,855,000
At 31 March 2023 2,855,000
4 Debtors 2024 2023
£ £
Trade debtors 37,434 46,349
Other debtors 102,432 109,213
139,866 155,562
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 108,301 102,638
Trade creditors 3,667 2,191
Other taxes and social security costs 18,834 25,809
Other creditors 94,127 117,620
224,929 248,258
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 738,781 847,118
7 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits (562,876) (562,472)
Amounts falling due within one year (562,876) (562,472)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 557,717 557,717
At 31 March 2024 557,717 557,717
9 Other information
John Street (Glasgow) LLP is a limited liability partnership incorporated in Scotland. Its registered office is:
8 John Street
Glasgow
G1 1JQ
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