Acorah Software Products - Accounts Production 16.1.300 false true false 1 April 2023 31 March 2024 31 March 2024 SO305432 Mrs Agnieszka Roberts iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SO305432 2023-03-31 SO305432 2024-03-31 SO305432 2023-04-01 2024-03-31 SO305432 frs-core:CurrentFinancialInstruments 2024-03-31 SO305432 frs-core:Non-currentFinancialInstruments 2024-03-31 SO305432 frs-core:ComputerEquipment 2024-03-31 SO305432 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SO305432 frs-core:ComputerEquipment 2023-03-31 SO305432 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 SO305432 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 SO305432 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SO305432 frs-bus:SmallEntities 2023-04-01 2024-03-31 SO305432 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SO305432 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SO305432 frs-countries:Scotland 2023-04-01 2024-03-31 SO305432 frs-bus:PartnerLLP1 2023-04-01 2024-03-31
Registered number: SO305432
Red Star Property Rentals LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SO305432
2024
Notes £ £
FIXED ASSETS
Investment Properties 5 965,506
965,506
CURRENT ASSETS
Cash at bank and in hand 203
203
Creditors: Amounts Falling Due Within One Year 6 (59,651 )
NET CURRENT ASSETS (LIABILITIES) (59,448 )
TOTAL ASSETS LESS CURRENT LIABILITIES 906,058
Creditors: Amounts Falling Due After More Than One Year 7 (264,927 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 641,131
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 641,131
641,131
641,131
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 641,131
641,131
Page 1
Page 2
For the year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Agnieszka Roberts
Designated Member
31 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Red Star Property Rentals LLP is a limited liability partnership, incorporated in Scotland, registered number SO305432 . The Registered Office is 6 Ladywynd, Cupar, Fife, KY15 4DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1
1
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 649
As at 31 March 2024 649
Depreciation
As at 1 April 2023 622
Provided during the period 27
As at 31 March 2024 649
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 27
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 1,270,523
Disposals (305,017 )
As at 31 March 2024 965,506
6. Creditors: Amounts Falling Due Within One Year
2024
£
Bank loans and overdrafts 55,322
Other creditors 4,329
59,651
7. Creditors: Amounts Falling Due After More Than One Year
2024
£
Bank loans 250,542
Red Star Loan 14,385
264,927
Page 4