REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SILVERWITCH KENNELS LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SILVERWITCH KENNELS LLP |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 8 |
SILVERWITCH KENNELS LLP |
GENERAL INFORMATION |
for the year ended 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
REPORT OF THE MEMBERS |
for the year ended 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of boarding kennels. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £5,241 (2023 - £28,264 profit). |
MEMBERS' INTERESTS |
Income profits and capital profits from the activities of the LLP are allocated amongst the members in their Agreed Proportions and shall be allocated to their current accounts when the accounts for each period are signed by the Designated Members. Each member shall be paid their share of profits when the members determine once the LLP has serviced its borrowings and has sufficient reserves to meet current and anticipated cash flow requirements. |
ON BEHALF OF THE MEMBERS: |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
INCOME STATEMENT |
for the year ended 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Raw materials and consumables | ( |
) | ( |
) |
Other external expenses | ( |
) | ( |
) |
64,221 | 57,690 |
Staff costs | 3 | ( |
) |
Depreciation | ( |
) | ( |
) |
Other operating expenses | ( |
) | ( |
) |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Interest payable and similar expenses | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
78,441 |
82,748 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
78,441 |
82,748 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 78,441 | 82,748 |
Amounts due from members | (39,701 | ) | (17,409 | ) |
38,740 | 65,339 |
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. |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
RECONCILIATION OF MEMBERS' INTERESTS |
for the year ended 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 82,749 |
Amount due from members | (17,409 | ) |
Balance at 1 April 2023 | - | 65,340 | 65,340 |
Loss for the financial year available for discretionary division among members |
(5,241 |
) |
- |
(5,241 |
) |
Members' interests after loss for the year | (5,241 | ) | 65,340 | 60,099 |
Other divisions of loss | 5,241 | (5,241 | ) | - |
Introduced by members | - | 12,075 | 12,075 |
Repayments of debt (including members' capital classified as a liability) |
- |
(6,400 |
) |
(6,400 |
) |
Drawings on account and distributions of profit |
- |
(27,034 |
) |
(27,034 |
) |
Amount due to members | 78,441 |
Amount due from members | (39,701 | ) |
Balance at 31 March 2024 | - | 38,740 | 38,740 |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
RECONCILIATION OF MEMBERS' INTERESTS |
for the year ended 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 43,465 |
Amount due from members | (8,672 | ) |
Balance at 1 April 2022 | - | 34,793 | 34,793 |
Profit for the financial year available for discretionary division among members |
28,264 |
- |
28,264 |
Members' interests after profit for the year |
28,264 |
34,793 |
63,057 |
Other divisions of profit | (28,264 | ) | 28,264 | - |
Introduced by members | - | 43,282 | 43,282 |
Repayments of debt (including members' capital classified as a liability) |
- |
(3,200 |
) |
(3,200 |
) |
Drawings on account and distributions of profit |
- |
(37,800 |
) |
(37,800 |
) |
Amount due to members | 82,748 |
Amount due from members | (17,409 | ) |
Balance at 31 March 2023 | - | 65,339 | 65,339 |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Silverwitch Kennels LLP is registered in Scotland, registration number SO307176. The registered office is Floor 3 1-4 Atholl Crescent, Edinburgh, EH3 8HA. |
The principal activity of the company is boarding kennels. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Significant judgements and estimates |
In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements: |
Plant and equipment |
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the LLP's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes. |
Turnover |
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes. |
Services |
Income from services is recognised when performed. Deposits are held as deferred income until the service is provided. |
Tangible fixed assets |
Plant and machinery etc | - |
The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable. |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss 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 year was |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2023 - operating profit) is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
SILVERWITCH KENNELS LLP (REGISTERED NUMBER: SO307176) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | 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. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests. |