IRIS Accounts Production v24.3.0.553 SO300710 designated member 1.7.23 31.3.24 31.3.24 0 0 false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSO3007102023-06-30SO3007102024-03-31SO3007102023-07-012024-03-31SO3007102022-06-30SO3007102022-07-012023-06-30SO3007102023-06-30SO300710ns15:Scotland2023-07-012024-03-31SO300710ns14:PoundSterling2023-07-012024-03-31SO300710ns10:PartnerLLP12023-07-012024-03-31SO300710ns10:LimitedLiabilityPartnershipLLP2023-07-012024-03-31SO300710ns10:SmallEntities2023-07-012024-03-31SO300710ns10:AuditExemptWithAccountantsReport2023-07-012024-03-31SO300710ns10:SmallCompaniesRegimeForAccounts2023-07-012024-03-31SO300710ns10:LimitedLiabilityPartnershipsSORP2023-07-012024-03-31SO300710ns10:FullAccounts2023-07-012024-03-31SO300710ns10:PartnerLLP22023-07-012024-03-31SO300710ns10:PartnerLLP32023-07-012024-03-31SO300710ns10:PartnerLLP42023-07-012024-03-31SO300710ns10:PartnerLLP52023-07-012024-03-31SO300710ns10:PartnerLLP62023-07-012024-03-31SO300710ns10:RegisteredOffice2023-07-012024-03-31SO300710ns5:CurrentFinancialInstruments2024-03-31SO300710ns5:CurrentFinancialInstruments2023-06-30SO300710ns5:LeaseholdImprovements2023-07-012024-03-31SO300710ns5:PlantMachinery2023-07-012024-03-31SO300710ns5:OwnedAssets2023-07-012024-03-31SO300710ns5:OwnedAssets2022-07-012023-06-30SO300710ns5:LeaseholdImprovements2023-06-30SO300710ns5:PlantMachinery2023-06-30SO300710ns5:LeaseholdImprovements2024-03-31SO300710ns5:PlantMachinery2024-03-31SO300710ns5:LeaseholdImprovements2023-06-30SO300710ns5:PlantMachinery2023-06-30SO300710ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31SO300710ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: SO300710 (Scotland)












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: Mrs R Y Ballantyne
G F Ballantyne
G L Ballantyne
A W Ballantyne
R Foulds
Mrs M S Foulds





REGISTERED OFFICE: Simpsonland Farm
Carscallan Road
Hamilton
United Kingdom
ML3 7UZ





REGISTERED NUMBER: SO300710 (Scotland)





ACCOUNTANTS: Donachie Chartered 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:

Mrs R Y Ballantyne
G F Ballantyne
G L Ballantyne
A W Ballantyne
R Foulds
Mrs M S Foulds

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:





G F Ballantyne - Designated member


22 January 2025

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.






Donachie Chartered Accountants
2nd Floor
Templeton House
62 Templeton Street
Glasgow
G40 1DA


22 January 2025

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 13,801 17,604

Cost of sales 1,578 2,219
GROSS PROFIT 12,223 15,385

Administrative expenses 20,093 17,238
OPERATING LOSS and
LOSS FOR THE FINANCIAL PERIOD BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES
AVAILABLE FOR DISCRETIONARY DIVISION
AMONG MEMBERS



(7,870



)



(1,853



)

KENNEDIES FARM LIVERY LLP (REGISTERED NUMBER: SO300710)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 58,557 63,853

CURRENT ASSETS
Debtors 7 664 1,835
Cash at bank 46,908 49,978
47,572 51,813
CREDITORS
Amounts falling due within one year 8 1,440 3,107
NET CURRENT ASSETS 46,132 48,706
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 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 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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 22 January 2025 and were signed by:





G F Ballantyne - Designated member

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
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% Straight line
Plant and machinery - 25% reducing balance

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 5,296 2,733

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 55,656 18,141 73,797
Disposals (2,700 ) - (2,700 )
At 31 March 2024 52,956 18,141 71,097
DEPRECIATION
At 1 July 2023 - 9,944 9,944
Charge for period 3,759 1,537 5,296
Eliminated on disposal (2,700 ) - (2,700 )
At 31 March 2024 1,059 11,481 12,540
NET BOOK VALUE
At 31 March 2024 51,897 6,660 58,557
At 30 June 2023 55,656 8,197 63,853

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 134 -
Prepayments and accrued income 530 1,835
664 1,835

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,667
Accrued expenses 1,440 1,440
1,440 3,107

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.