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REGISTERED NUMBER: SO300257 (Scotland)















Andrew Turner LLP

Abridged Unaudited Financial Statements

for the Period 1 October 2022 to 31 March 2024






Andrew Turner LLP (Registered number: SO300257)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

General Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Andrew Turner LLP

General Information
for the Period 1 October 2022 to 31 March 2024







DESIGNATED MEMBERS: A G C Turner
Mrs M C Turner



REGISTERED OFFICE: 8 Eastfield Drive
Penicuik
Midlothian
EH26 8BA



REGISTERED NUMBER: SO300257 (Scotland)



ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW



BANKERS: The Royal Bank of Scotland plc
Edinburgh Bruntsfield Branch
206 Bruntsfield Place
Edinburgh
EH10 4DF

Andrew Turner LLP (Registered number: SO300257)

Abridged Statement of Financial Position
31 March 2024

31.3.24 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,500 110,789

CURRENT ASSETS
Stocks and work in progress 29,315 50,871
Debtors 500,237 371,164
Cash at bank 5 5
529,557 422,040
CREDITORS
Amounts falling due within one year 232,485 275,219
NET CURRENT ASSETS 297,072 146,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,572

257,610

CREDITORS
Amounts falling due after more than one
year

39,341

71,708
NET ASSETS ATTRIBUTABLE TO
MEMBERS

326,231

185,902

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

326,231

185,902

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 326,231 185,902

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.

Andrew Turner LLP (Registered number: SO300257)

Abridged 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 31 January 2025 and were signed by:





Mrs M C Turner - Designated member

Andrew Turner LLP (Registered number: SO300257)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Andrew Turner LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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. Turnover is attributable to the company's principal activity of the provision of blacksmith and fencing services.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Land is not depreciated.

Motor vehicles - 25% Reducing balance
Plant and machinery - 20% Reducing Balance

Depreciation and impairment losses are charged to the Statement of Comprehensive Income within administrative expenses.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Andrew Turner LLP (Registered number: SO300257)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position as substantially all of the risks and rewards incidental to ownership have been transferred from the leasing company.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 396,948
Additions 28,803
Disposals (146,549 )
At 31 March 2024 279,202
DEPRECIATION
At 1 October 2022 286,159
Charge for period 36,248
Eliminated on disposal (111,705 )
At 31 March 2024 210,702
NET BOOK VALUE
At 31 March 2024 68,500
At 30 September 2022 110,789

Andrew Turner LLP (Registered number: SO300257)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2022 142,909
Additions 27,500
Disposals (47,149 )
At 31 March 2024 123,260
DEPRECIATION
At 1 October 2022 64,713
Charge for period 30,818
Eliminated on disposal (29,794 )
At 31 March 2024 65,737
NET BOOK VALUE
At 31 March 2024 57,523
At 30 September 2022 78,196

5. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 30.9.22
£    £   
Bank overdrafts 26,706 69,119
Hire purchase contracts 46,994 68,029
73,700 137,148

Royal Bank of Scotland has a bond and floating charge over the assets of the limited liability partnership.
Hire purchase liabilities are secured against the relevant corresponding assets under each agreement.

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.