REGISTERED NUMBER: |
KENNETHS OF STRONACHULLIN LLP |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
KENNETHS OF STRONACHULLIN LLP |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KENNETHS OF STRONACHULLIN LLP |
GENERAL INFORMATION |
For The Year Ended 30 September 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
BALANCE SHEET |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,755,477 |
3,131,626 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
3,755,471 |
3,131,620 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 6 | 6 |
3,755,477 | 3,131,626 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 3,755,471 | 3,131,620 |
Members' other interests | 6 | 6 |
3,755,477 | 3,131,626 |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
BALANCE SHEET - continued |
30 September 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 were approved by the members of the LLP and authorised for issue on |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Kenneths of Stronachullin LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Financial instruments |
Basic financial instruments, including trade and other payables, bank and other loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. |
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. |
Members' interests |
A member's share in the profit or loss for the year is accounted for as an allocation.Unallocated profits and losses are included within "other reserves". |
Fixed asset investments |
Fixed asset investments represents the LLP's partnership interest in Allt Dearg Wind Farmers LLP. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
Investment |
£ |
COST |
At 1 October 2023 | 1,061,512 |
Share of profits | 1,784,490 |
Drawings | (1,900,383 | ) |
At 30 September 2024 | 945,619 |
The unlisted investment comprises a partnership interest in Allt Dearg Wind Farmers LLP. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
Other debtors |
KENNETHS OF STRONACHULLIN LLP (REGISTERED NUMBER: SO302501) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 September 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Loans |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Loans |
Loans repayable by instalments falling due in more than 5 years are £0 (2023, £6,703). |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank after those in relation to other creditors. |
10. | RELATED PARTY DISCLOSURES |
On 3 October 2017 the partnership granted a fixed charge over its members interests in Allt Dearg Wind Farmers LLP. The partnership leases subjects on which a wind farm development is located to Allt Dearg Wind Farmers LLP. This lease expires on 19 December 2076 and has a current cost to Allt Dearg Wind Farmers LLP of £5 per annum. Included in creditors at 30 September 2024 is £199,323 (2023, £246,225) due to Allt Dearg Wind Farmers LLP in respect of interest free loans. The partnership is a member of Allt Dearg Wind Farmers LLP. |
The partnership has provided security by way of joint and several guarantees in respect of a bank loan of £1,700,000 provided to Srondoire Hydro Limited in October 2014. The partnership leases subjects to Srondoire Hydro Limited on which a hydro scheme is constructed. The lease expires on 27 August 2044 and has a current cost of £3,000 per annum. Members of the LLP are directors of Srondoire Hydro Limited. |
The partnership leases subjects to Srondoire Wind Farmers Limited on which a wind farm development is located. The lease expires on 19 December 2076 and has a current cost to Srondoire Wind Farmers Limited of £60,255 (2023, £36,094). A member of the LLP is a director of Srondoire Wind Farmers Limited. |