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REGISTERED NUMBER: SO304122 (Scotland)















Financial Statements

for the Period 1st September 2023 to 31st March 2024

for

Brownriggs (Thornhill) LLP

Brownriggs (Thornhill) LLP (Registered number: SO304122)






Contents of the Financial Statements
for the Period 1st September 2023 to 31st March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brownriggs (Thornhill) LLP

General Information
for the Period 1st September 2023 to 31st March 2024







DESIGNATED MEMBERS: J Martin
W I Brownrigg





REGISTERED OFFICE: c/o Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ





REGISTERED NUMBER: SO304122 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 583,874 521,759
583,874 521,759

CURRENT ASSETS
Stocks 15,000 40,000
Debtors 6 223,328 212,998
Cash at bank and in hand 230,309 165,538
468,637 418,536
CREDITORS
Amounts falling due within one year 7 (680,843 ) (594,124 )
NET CURRENT LIABILITIES (212,206 ) (175,588 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,668

346,171

CREDITORS
Amounts falling due after more than one year 8 (134,379 ) (109,034 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

237,289

237,137

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

237,289

237,137

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 237,289 237,137

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 period ended 31st 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.

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Balance Sheet - continued
31st 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 6th January 2025 and were signed by:





J Martin - Designated member

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Notes to the Financial Statements
for the Period 1st September 2023 to 31st March 2024

1. STATUTORY INFORMATION

Brownriggs (Thornhill) LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Notes to the Financial Statements - continued
for the Period 1st September 2023 to 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2023
and 31st March 2024 65,000
AMORTISATION
At 1st September 2023
and 31st March 2024 65,000
NET BOOK VALUE
At 31st March 2024 -
At 31st August 2023 -

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Notes to the Financial Statements - continued
for the Period 1st September 2023 to 31st March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st September 2023 192,464 667,307 859,771
Additions - 124,430 124,430
At 31st March 2024 192,464 791,737 984,201
DEPRECIATION
At 1st September 2023 - 338,012 338,012
Charge for period - 62,315 62,315
At 31st March 2024 - 400,327 400,327
NET BOOK VALUE
At 31st March 2024 192,464 391,410 583,874
At 31st August 2023 192,464 329,295 521,759

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 164,203 176,998
Other debtors 59,125 36,000
223,328 212,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 50,544 42,375
Trade creditors 537,211 460,117
Taxation and social security 5,469 2,178
Other creditors 87,619 89,454
680,843 594,124

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 134,379 109,034

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 9,462 12,948

Brownriggs (Thornhill) LLP (Registered number: SO304122)

Notes to the Financial Statements - continued
for the Period 1st September 2023 to 31st March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 184,923 151,409

The HSBC Bank plc holds a floating charge over the assets of the business.
The hire purchase creditors are secured on the assets on which the finance is actually outstanding.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Trade and other creditors rank over loans and other debts due to members.