REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
FOR |
KENNEDIES FARM LIVERY LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
FOR |
KENNEDIES FARM LIVERY LLP |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 |
KENNEDIES FARM LIVERY LLP |
GENERAL INFORMATION |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Templeton House |
62 Templeton Street |
Glasgow |
G40 1DA |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the period 1 July 2023 to 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of farm livery. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The loss for the period before members' remuneration and profit shares was £7,870 (2023 - £1,853 loss). |
MEMBERS' INTERESTS |
The members are entitled to draw on account of profit, such sums as may from time to time be mutually agreed. |
The capital requisite for carrying on this business of the LLP shall be agreed and contributed by the members from time to time. The total amount of and the respective contributions of the members to the fixed capital of the LLP shall be in the shares in which they are entitled to the net profits of the LLP. |
ON BEHALF OF THE MEMBERS: |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
KENNEDIES FARM LIVERY LLP |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Kennedies Farm Livery LLP for the period ended 31 March 2024 on pages four to seven from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the members of Kennedies Farm Livery LLP, as a body, in accordance with the terms of our engagement letter dated 3 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Kennedies Farm Livery LLP and state those matters that we have agreed to state to the members of Kennedies Farm Livery LLP, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Kennedies Farm Livery LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Kennedies Farm Livery LLP. You consider that Kennedies Farm Livery LLP is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Kennedies Farm Livery LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
2nd Floor |
Templeton House |
62 Templeton Street |
Glasgow |
G40 1DA |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
INCOME STATEMENT |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
Period |
1/7/23 |
to | Year Ended |
31/3/24 | 30/6/23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING LOSS and |
LOSS FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 104,689 | 112,559 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 9 | 104,189 | 112,059 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 500 | 500 |
104,689 | 112,559 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 104,189 | 112,059 |
Members' other interests | 500 | 500 |
104,689 | 112,559 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Kennedies Farm Livery 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL (2023 - NIL). |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
Period |
1/7/23 |
to | Year Ended |
31/3/24 | 30/6/23 |
£ | £ |
Depreciation - owned assets |
5. | INFORMATION IN RELATION TO MEMBERS |
Period |
1/7/23 |
to | Year Ended |
31/3/24 | 30/6/23 |
The average number of members during the period was | 6 | 6 |
KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024 |
6. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 June 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Accrued expenses |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 104,189 | 112,059 |
Falling due within one year | 104,189 | 112,059 |
Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests. |