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REGISTERED NUMBER: SO307146 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2023 TO 31 MARCH 2024

FOR

A C PROPERTIES (SCOTLAND) LLP

A C PROPERTIES (SCOTLAND) LLP (REGISTERED NUMBER: SO307146)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 MARCH 2023 TO 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A C PROPERTIES (SCOTLAND) LLP

GENERAL INFORMATION
for the period 1 MARCH 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: Enterprise Properties (Scotland) Limited
Reliant Developments (Scotland) Limited





REGISTERED OFFICE: 3 Clairmont Gardens
Glasgow
G3 7LW





REGISTERED NUMBER: SO307146 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

A C PROPERTIES (SCOTLAND) LLP (REGISTERED NUMBER: SO307146)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks - 733,172
Debtors 25,559 51,308
25,559 784,480
CREDITORS
Amounts falling due within one year 4 (3,240 ) (6,395 )
NET CURRENT ASSETS 22,319 778,085
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

22,319

778,085

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

22,319

778,085

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 22,319 778,085
Amounts due from members (25,559 ) (51,308 )
(3,240 ) 726,777

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.

A C PROPERTIES (SCOTLAND) LLP (REGISTERED NUMBER: SO307146)

STATEMENT OF FINANCIAL POSITION - continued
31 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 10 December 2024 and were signed by:





Reliant Developments (Scotland) Limited - Designated member

A C PROPERTIES (SCOTLAND) LLP (REGISTERED NUMBER: SO307146)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 MARCH 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

A C Properties (Scotland) LLP is registered in Scotland, registration number SO307146. The registered office is 3 Clairmont Gardens, Glasgow, Scotland, G3 7LW.

The principal activity of the company is property development.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Sale of property
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the buyer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing management involvement with the property, and the amount of revenue can be measured reliably.

Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease.

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

Work in progress represents the costs associated with the development of properties which have not yet reached their date of practical completion.

A C PROPERTIES (SCOTLAND) LLP (REGISTERED NUMBER: SO307146)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 MARCH 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

3. EMPLOYEE INFORMATION

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

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 3,120
Other creditors 3,240 3,275
3,240 6,395

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Member's loan - 779,049

The member's loan from Reliant Developments (Scotland) Ltd is secured over all properties held by the LLP.

6. 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.