| REGISTERED NUMBER: |
| Allan James Scott LLP |
| Report of the Members and |
| Financial Statements |
| for the Year Ended 31st March 2025 |
| REGISTERED NUMBER: |
| Allan James Scott LLP |
| Report of the Members and |
| Financial Statements |
| for the Year Ended 31st March 2025 |
| Allan James Scott LLP (Registered number: OC407498) |
| Contents of the Financial Statements |
| for the year ended 31st March 2025 |
| Page |
| General information | 1 |
| Report of the members | 2 |
| Accountants' report | 3 |
| Income statement | 4 |
| Balance sheet | 5 | to | 6 |
| Notes to the financial statements | 7 | to | 9 |
| Allan James Scott LLP |
| General Information |
| for the year ended 31st March 2025 |
| Designated members: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Allan James Scott LLP (Registered number: OC407498) |
| Report of the Members |
| for the year ended 31st March 2025 |
| The members present their report with the financial statements of the LLP for the year ended 31st March 2025. |
| Principal activity |
| The principal activity of the LLP in the year under review was that of the provision of farming. |
| 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 £10,523 (2024 - £15,205 loss). |
| Members' interests |
| Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is determined on a monthly basis, taking into account the cash needs of the LLP. |
| New members are not required to subscribe a minimum level of capital but in subsequent years members are invited to subscribe for further capital, the amounts of which are determined by the performance of the LLP. On retirement, capital is repaid to members over specified periods of time. |
| Statement of members' responsibilities |
| The members are responsible for preparing the Report of the members and the financial statements in accordance with applicable law and regulations. |
| Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
| The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| On behalf of the members: |
| Accountants' Report to the Members |
| on the Unaudited Financial Statements of |
| Allan James Scott LLP |
| In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Allan James Scott LLP for the year ended 31st March 2025 on pages four to nine from the LLP's accounting records and from information and explanations you have given us. |
| As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at their website. |
| This report is made solely to the members of Allan James Scott LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Allan James Scott LLP and state those matters that we have agreed to state to the members of Allan James Scott LLP, as a body, in this report in accordance with the requirements of ICAS as detailed at their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
| It is your duty to ensure that Allan James Scott LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Allan James Scott LLP. You consider that Allan James Scott LLP is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Allan James Scott LLP. For this reason, 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 statutory financial statements. |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Allan James Scott LLP (Registered number: OC407498) |
| Income Statement |
| for the year ended 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Turnover |
| Cost of sales | ( |
) | ( |
) |
| Gross profit |
| Administrative expenses | ( |
) | ( |
) |
| Operating loss and |
| Loss for the financial year before members' remuneration and profit shares |
(10,523 |
) |
(15,205 |
) |
| Loss for the financial year before members' remuneration and profit shares |
(10,523 |
) |
(15,205 |
) |
| Members' remuneration charged as an expense |
4 |
10,523 |
15,205 |
| Profit for the financial year available for discretionary division among members |
| Allan James Scott LLP (Registered number: OC407498) |
| Balance Sheet |
| 31st March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| and |
| Net assets attributable to members | 82,190 | 71,997 |
| Loans and other debts due to members |
8 |
82,190 |
71,997 |
| Total members' interests |
| Loans and other debts due to members | 8 | 82,190 | 71,997 |
| Amounts due from members | 6 | (29,629 | ) | (16,544 | ) |
| 52,561 | 55,453 |
| Allan James Scott LLP (Registered number: OC407498) |
| Balance Sheet - continued |
| 31st March 2025 |
| 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 |
| Allan James Scott LLP (Registered number: OC407498) |
| Notes to the Financial Statements |
| for the year ended 31st March 2025 |
| 1. | Statutory information |
| Allan James Scott LLP is registered in England and Wales. 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 |
| Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
| Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and accruals. |
| Trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. |
| Members remuneration |
| Profits and losses are automatically divided between members in accordance with the terms of the LLP agreement, and hence there are no unallocated profits or losses. |
| Allan James Scott LLP (Registered number: OC407498) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 2. | Accounting policies - continued |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
| Going Concern |
| The members have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements. |
| 3. | Employee information |
| The average number of employees during the year was |
| 4. | Information in relation to members |
| 2025 | 2024 |
| £ | £ |
| Members' remuneration charged as an expense |
| Automatic division of loss | (10,523 | ) | (15,205 | ) |
| 5. | Tangible fixed assets |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| At 1st April 2024 |
| and 31st March 2025 |
| Depreciation |
| At 1st April 2024 |
| Charge for year |
| At 31st March 2025 |
| Net book value |
| At 31st March 2025 |
| At 31st March 2024 |
| 6. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Allan James Scott LLP (Registered number: OC407498) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2025 |
| 8. | Loans and other debts due to members |
| Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement. |