Scotia Property LLP OC403317 false 2023-01-01 2024-03-31 2024-03-31 The principal activity of the company is Property Rental Digita Accounts Production Advanced 6.30.9574.0 OC403317 2023-01-01 2024-03-31 OC403317 2024-03-31 OC403317 core:OtherReservesSubtotal 2024-03-31 OC403317 core:CurrentFinancialInstruments 2024-03-31 OC403317 core:Non-currentFinancialInstruments 2024-03-31 OC403317 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC403317 core:WithinOneYear 2024-03-31 OC403317 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 OC403317 core:MotorVehicles 2024-03-31 OC403317 bus:SmallEntities 2023-01-01 2024-03-31 OC403317 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 OC403317 bus:FilletedAccounts 2023-01-01 2024-03-31 OC403317 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 OC403317 bus:PartnerLLP1 2023-01-01 2024-03-31 OC403317 bus:PartnerLLP2 2023-01-01 2024-03-31 OC403317 bus:PartnerLLP3 2023-01-01 2024-03-31 OC403317 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2024-03-31 OC403317 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 OC403317 core:MotorVehicles 2023-01-01 2024-03-31 OC403317 countries:AllCountries 2023-01-01 2024-03-31 OC403317 2022-12-31 OC403317 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 OC403317 core:MotorVehicles 2022-12-31 OC403317 2022-01-01 2022-12-31 OC403317 2022-12-31 OC403317 core:OtherReservesSubtotal 2022-12-31 OC403317 core:CurrentFinancialInstruments 2022-12-31 OC403317 core:Non-currentFinancialInstruments 2022-12-31 OC403317 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 OC403317 core:WithinOneYear 2022-12-31 OC403317 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 OC403317 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: OC403317

Scotia Property LLP

Unaudited Financial Statements

for the period from 1 January 2023 to 31 March 2024

 

Scotia Property LLP

Contents

Financial Statements

1 to 4

Balance Sheet

1

Notes to the Financial Statements

3

 

Scotia Property LLP

(Registration number: OC403317)
Balance Sheet as at 31 March 2024

Note

31 March 2024
 £

31 December 2022
 £

Fixed assets

 

Tangible assets

3

322,538

346,700

Current assets

 

Debtors

4

19,868

-

Cash and short-term deposits

 

13,186

33,617

 

33,054

33,617

Creditors: Amounts falling due within one year

5

(15,962)

(17,617)

Net current assets

 

17,092

16,000

Total assets less current liabilities

 

339,630

362,700

Creditors: Amounts falling due after more than one year

6

(84,349)

(103,102)

Net assets attributable to members

 

255,281

259,598

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

-

95,551

Members’ other interests

 

Members' capital classified as equity

 

235,599

164,047

Other reserves

 

19,682

-

 

255,281

164,047

   

255,281

259,598

Total members' interests

 

Loans and other debts due to members

 

-

95,551

Equity

 

255,281

164,047

   

255,281

259,598

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

 

Scotia Property LLP

(Registration number: OC403317)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account or Members Report has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Scotia Property LLP (registered number OC403317) were approved by the Board and authorised for issue on 24 January 2025. They were signed on behalf of the limited liability partnership by:

.........................................
SRG Garages Limited
Designated member

.........................................
Mr Philip Roberts
Designated member

.........................................
Mr Paul Lawrence
Designated member

 

Scotia Property LLP

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

The financial statements have been prepared under the historical cost convention, and in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued July 2014).

The functional currency of Scotia Property LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received.

Tangible fixed assets

Tangible fixed assets are stated at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on written down value

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 3 (2022 - 2).

 

Scotia Property LLP

Notes to the Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

3

Tangible fixed assets

Freehold land and buildings
£

Motor vehicles
£

Total
£

Cost

At 1 January 2023

250,050

128,868

378,918

At 31 March 2024

250,050

128,868

378,918

Depreciation

At 1 January 2023

-

32,218

32,218

Charge for the year

-

24,162

24,162

At 31 March 2024

-

56,380

56,380

Net book value

At 31 March 2024

250,050

72,488

322,538

At 31 December 2022

250,050

96,650

346,700

4

Debtors

31 March 2024
 £

Other debtors

19,868

Total current trade and other debtors

19,868

5

Creditors: Amounts falling due within one year

31 March 2024
 £

31 December 2022
 £

Other creditors

15,002

17,617

Accruals and deferred income

960

-

15,962

17,617

6

Creditors: Amounts falling due after more than one year

31 March 2024
 £

31 December 2022
 £

Other creditors

84,349

103,102