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REGISTERED NUMBER: SO303599 (Scotland)















Unaudited Financial Statements

for the Period 1 January 2023 to 31 March 2024

for

West Coast Cinemas LLP

West Coast Cinemas LLP (Registered number: SO303599)






Contents of the Financial Statements
for the Period 1 January 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


West Coast Cinemas LLP

General Information
for the Period 1 January 2023 to 31 March 2024







DESIGNATED MEMBERS: D Shaw
Mrs E Black





REGISTERED OFFICE: Waterfront Cinema
10 Custom House Way
Greenock
Inverclyde
PA15 1XP





REGISTERED NUMBER: SO303599 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

West Coast Cinemas LLP (Registered number: SO303599)

Balance Sheet
31 March 2024

31.3.24 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 195,128 219,381
195,128 219,381

CURRENT ASSETS
Stocks 17,000 13,675
Debtors 6 183,322 94,118
Cash at bank and in hand 568 128,877
200,890 236,670
CREDITORS
Amounts falling due within one year 7 281,849 224,023
NET CURRENT (LIABILITIES)/ASSETS (80,959 ) 12,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,169

232,028

CREDITORS
Amounts falling due after more than one
year

8

(18,009

)

(42,184

)

ACCRUALS AND DEFERRED INCOME (95,651 ) (189,285 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

509

559

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

509

559

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 509 559
Amounts due from members 6 (177,488 ) (78,165 )
(176,979 ) (77,606 )

West Coast Cinemas LLP (Registered number: SO303599)

Balance Sheet - continued
31 March 2024


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.

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 21 March 2025 and were signed by:





D Shaw - Designated member

West Coast Cinemas LLP (Registered number: SO303599)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

West Coast Cinemas 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 represents the net invoiced value of goods sold and services provided in the course of ordinary activities, excluding value added tax.

Intangible assets
Depreciation is provided on all intangible assets based over its expected useful life. Amortisation is provided at a rate of 33.33% per annum on cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

LandNot depreciated
Heritable property4% straight line
Fixtures and fittings10% straight line

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

Accounting period
The Partnership extended it's financial year end to 31 March 2024.

The accounts presented cover the 15 month period from 1 January 2023 to 31 March 2024.

Comparative amounts relate to the year ended 31 December 2022.

Grants
Grants are not recognised until there is reasonable assurance that:

a) West Coast Cinemas LLP will comply with the conditions attaching to the grants; and
b) The grants will be received.

Once recognised, grants are assessed as to whether they are capital or revenue in nature.

Grants which relate to capital are credited to a deferral account and recognised as income on a systematic basis over the expected useful lifetime of the asset to which they relate.

Grants which relate to revenue are credited to a deferral account and recognised as income on a systematic basis over the periods in which the related costs, for which the grant is intended to compensate, is recognised.

West Coast Cinemas LLP (Registered number: SO303599)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

3. EMPLOYEE INFORMATION

The average number of employees during the period was 17 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 March 2024 2,000
AMORTISATION
At 1 January 2023
and 31 March 2024 2,000
NET BOOK VALUE
At 31 March 2024 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 March 2024 130,390 460,767 591,157
DEPRECIATION
At 1 January 2023 - 371,776 371,776
Charge for period - 24,253 24,253
At 31 March 2024 - 396,029 396,029
NET BOOK VALUE
At 31 March 2024 130,390 64,738 195,128
At 31 December 2022 130,390 88,991 219,381

Included in cost of land and buildings is freehold land of £ 5,000 (2022 - £ 5,000 ) which is not depreciated.

The members have determined that the residual value of heritable property is greater than the value at which it was acquired, and accordingly no depreciation has been charged in respect of heritable property in these accounts.

The members believe that the costs of obtaining suitable professional valuations to support their view is not economic and accordingly these accounts have not been prepared in this respect in accordance with the requirements of Financial Reporting Standard 102 including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships

West Coast Cinemas LLP (Registered number: SO303599)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Other debtors 183,322 94,118

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Bank loans and overdrafts 92,015 16,228
Trade creditors 71,748 90,784
Amounts owed to participating interests 5,548 5,548
Taxation and social security 29,583 21,008
Other creditors 82,955 90,455
281,849 224,023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.12.22
£    £   
Bank loans 18,009 42,184

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.12.22
£    £   
Bank loans 34,237 58,412

Bank loans are secured by bond and floating charge over the assets of West Coast Cinemas LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Included in Current Liabilities are amounts due to members totalling £28,718 which rank pari passu with other creditors.

11. OTHER FINANCIAL COMMITMENTS

The rental obligation of the Greenock cinema provides for a £45,000 per annum rental charge. A novated lease agreement is currently under review. No review period has currently been set.