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REGISTERED NUMBER: OC415103 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

LINTON REID LLP

LINTON REID LLP (REGISTERED NUMBER: OC415103)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

General Information 1

Report of the Members 2

Accountants' Report 3

Income Statement 4

Balance Sheet 5

Reconciliation of Members' Interests 6

Notes to the Financial Statements 8


LINTON REID LLP

General Information
for the Year Ended 31 December 2024







DESIGNATED MEMBERS: Linton London Investments Limited
Henika Limited





REGISTERED OFFICE: The Maple Building
39/51 Highgate Road
London
NW5 1RT





REGISTERED NUMBER: OC415103 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Report of the Members
for the Year Ended 31 December 2024

The members present their report with the financial statements of the LLP for the year ended 31 December 2024.

DESIGNATED MEMBERS
The designated members during the year under review were:

Linton London Investments Limited
Henika Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £2,931 (2023 - £57,085 profit).

MEMBERS' INTERESTS
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable
following retirement from the LLP.

Details of changes in members' capital in the ended 31 December 2023 are set out in the Reconciliation of
members' interests.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

ON BEHALF OF THE MEMBERS:





Linton London Investments Limited - Designated member


25 February 2025

Accountants' Report to the Members
on the Unaudited Financial Statements of
Linton Reid LLP


In accordance with the engagement letter, we have prepared for your approval the financial information of Linton Reid LLP for the year 31 December 2024 from the entity's accounting records and from information and explanations you have given us.

You have approved the financial information for the year 31 December 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.

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 financial information.

The financial information is provided exclusively to Linton Reid LLP for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX


25 February 2025

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
£    £   

REVENUE - 64,063

Administrative expenses (2,931 ) (6,978 )
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(2,931





)





57,085

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
CURRENT ASSETS
Debtors 4 1,625 1,649
Cash at bank 717 3,193
2,342 4,842
CREDITORS
Amounts falling due within one year 5 (2,340 ) (4,840 )
NET CURRENT ASSETS 2 2
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2

2

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

2

2

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 2 2
Amounts due from members 4 (1,406 ) (1,474 )
(1,404 ) (1,472 )

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 December 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 25 February 2025 and were signed by:





Linton London Investments Limited - Designated member

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Reconciliation of Members' Interests
for the Year Ended 31 December 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors
Members'
capital
Other (classified Other
reserves as debt) amounts Total Total
£    £    £    £    £   
Amount due to members 2 - 2
Amount due from members - (1,474 ) (1,474 )
Balance at 1 January 2024 - 2 (1,474 ) (1,472 ) (1,472 )
Loss for the financial year available
for discretionary division among
members


(2,931


)


-


-


-


(2,931


)
Members' interests after loss for the
year

(2,931

)

2

(1,474

)

(1,472

)

(4,403

)
Other divisions of loss 2,931 - (2,931 ) (2,931 ) -
Introduced by members - - 3,000 3,000 3,000
Amount due to members 2 - 2
Amount due from members - (1,406 ) (1,406 )
Balance at 31 December 2024 - 2 (1,405 ) (1,403 ) (1,403 )

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Reconciliation of Members' Interests
for the Year Ended 31 December 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors
Members'
capital
Other (classified Other
reserves as debt) amounts Total Total
£    £    £    £    £   
Amount due to members 2 30,441 30,443
Amount due from members - - -
Balance at 1 January 2023 - 2 30,441 30,443 30,443
Profit for the financial year
available for discretionary division
among members


57,085


-


-


-


57,085
Members' interests after profit for
the year

57,085

2

30,441

30,443

87,528
Other divisions of profit (57,085 ) - 57,085 57,085 -
Drawings on account and
distributions of profit
-
-

(89,000

)

(89,000

)

(89,000

)
Amount due to members 2 - 2
Amount due from members - (1,474 ) (1,474 )
Balance at 31 December 2023 - 2 (1,474 ) (1,472 ) (1,472 )

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Linton Reid LLP is registered in England and Wales. 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.

Significant judgements and estimates
In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

LINTON REID LLP (REGISTERED NUMBER: OC415103)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed,remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 102. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the profit and loss account of the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities in the balance sheet. Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the profit or loss account and are equity appropriations in the balance sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the balance sheet within loans and other debts due to members and are charged to the profit and loss account within 'members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the balance sheet within 'members' other interests'.

3. EMPLOYEE INFORMATION

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts due from members 1,406 1,474
Prepayments 219 175
1,625 1,649

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 840 3,040
Accrued expenses 1,500 1,800
2,340 4,840

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loan and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up.