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REGISTERED NUMBER: SO303515 (Scotland)















YOSEF INVESTMENT LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

YOSEF INVESTMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Dr H M Yosef
Mrs S Yosef





REGISTERED OFFICE: 35 Ballater Drive
Bearsden
Glasgow
G61 1BZ





REGISTERED NUMBER: SO303515 (Scotland)





ACCOUNTANTS: Colin Emery and Co. , Chartered Accountants
2 Comorach House,
Pollok Castle Estate,
Newton Mearns,
Glasgow
G77 6NT

YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 812,430 600,000
812,430 600,000

CURRENT ASSETS
Debtors 6 550 -
Cash at bank 4,279 41,108
4,829 41,108
CREDITORS
Amounts falling due within one year 7 1,960 2,270
NET CURRENT ASSETS 2,869 38,838
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

815,299

638,838

YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

657,557

521,096

MEMBERS' OTHER INTERESTS
Revaluation reserve 9 157,742 117,742
815,299 638,838

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 657,557 521,096
Members' other interests 157,742 117,742
815,299 638,838

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 year 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 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 15 November 2024 and were signed by:





Dr H M Yosef - Designated member

YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Yosef Investment LLP is a limited liability partnership incorporated in Scotland. The registered office and principal place of business is 35 Ballater Drive, Bearsden, Glasgow, G61 1BZ.

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 as modified by the revaluation of certain assets.

Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at fair value of the consideration received or receivable.

Turnover represents property letting income recognised on a receivables basis. Income is recognised when a rental invoice is sent to the tenant.

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 cost

Investment property
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for an difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss account.

Financial instruments
The limited liability partnership only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss account.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 2,881
DEPRECIATION
At 1 April 2023
and 31 March 2024 2,881
NET BOOK VALUE
At 31 March 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 600,000
Additions 172,430
Revaluations 40,000
At 31 March 2024 812,430
NET BOOK VALUE
At 31 March 2024 812,430
At 31 March 2023 600,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 67,742
Valuation in 2016 30,000
Valuation in 2017 20,000
Valuation in 2019 (60,000 )
Valuation in 2022 60,000
Valuation in 2024 40,000
Cost 654,688
812,430

YOSEF INVESTMENT LLP (REGISTERED NUMBER: SO303515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 654,688 482,258

Investment property was valued on a fair value basis on 31 March 2024 by the members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 550 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 1,960 2,270

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members other interests'.

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 117,742
Other movements 40,000
At 31 March 2024 157,742

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
YOSEF INVESTMENT LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

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 Yosef Investment LLP for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes 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 Yosef Investment LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Yosef Investment LLP and state those matters that we have agreed to state to the members of Yosef Investment 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 Yosef Investment 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 profit of Yosef Investment LLP. You consider that Yosef Investment LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Yosef Investment 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.






Colin Emery and Co. , Chartered Accountants
2 Comorach House,
Pollok Castle Estate,
Newton Mearns,
Glasgow
G77 6NT


15 November 2024