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REGISTERED NUMBER: SO306779 (Scotland)
















Financial Statements

for the Year Ended 31 December 2024

for

Jest Lodges LLP

Jest Lodges LLP (Registered number: SO306779)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jest Lodges LLP

General Information
for the Year Ended 31 December 2024







DESIGNATED MEMBERS: Mr S Feinberg
Mrs J Feinberg





REGISTERED OFFICE: Westburn Business Centre
Mcnee Road
Prestwick
Ayrshire
KA9 2PB





REGISTERED NUMBER: SO306779 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Jest Lodges LLP (Registered number: SO306779)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,152 111,180

CURRENT ASSETS
Debtors 5 36,936 5,748
Cash at bank 42,505 39,210
79,441 44,958
CREDITORS
Amounts falling due within one year 6 12,676 7,000
NET CURRENT ASSETS 66,765 37,958
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

73,917

149,138

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

73,817

149,038

MEMBERS' OTHER INTERESTS
Capital accounts 100 100
73,917 149,138

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 73,817 149,038
Members' other interests 100 100
73,917 149,138

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 year ended 31 December 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.

Jest Lodges LLP (Registered number: SO306779)

Balance Sheet - continued
31 December 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 21 May 2025 and were signed by:




Mr S Feinberg - Designated member




Mrs J Feinberg - Designated member


Jest Lodges LLP (Registered number: SO306779)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Jest Lodges 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.

Going concern
The members review the requirements of the business on a regular basis to ensure that commitments can be met as they fall due. This includes a review of current resources, projected income and expenditure levels and the ongoing support from them in the form of loan monies. Having carried out this exercise the members are satisfied that commitments can be met as falling due and as such the accounts have been prepared on a going concern basis.

Turnover
Turnover is derived from the rental of holiday lodges. This is measured at the fair value of rental income, net of discounts and excluding value added tax, and is recognised at the point that the limited liability partnership obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Storage facility - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less depreciaiton.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Jest Lodges LLP (Registered number: SO306779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive
periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Taxation
The taxation payable on the partnership profits is the personal liability of the members and consequently neither taxation nor deferred taxation is accounted for in the financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

Jest Lodges LLP (Registered number: SO306779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Storage and Computer
property facility fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 326,632 1,000 8,629 1,980 338,241
Disposals (111,632 ) - - - (111,632 )
At 31 December 2024 215,000 1,000 8,629 1,980 226,609
DEPRECIATION
At 1 January 2024 224,303 250 1,270 1,238 227,061
Charge for year 930 100 1,104 495 2,629
Eliminated on disposal (10,233 ) - - - (10,233 )
At 31 December 2024 215,000 350 2,374 1,733 219,457
NET BOOK VALUE
At 31 December 2024 - 650 6,255 247 7,152
At 31 December 2023 102,329 750 7,359 742 111,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 36,936 5,748

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 12,676 7,000

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 73,817 149,038

Falling due within one year 73,817 149,038

Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital (classified as equity), rank after unsecured creditors

8. RELATED PARTY DISCLOSURES

The members are also directors and shareholders in Macfein Limited, making it a related party. During the year, a lodge was transferred to Macfein Limited. As the year end, the balance due from Macfein Limited was £35,936 (2023: £5,448). This loan is unsecured, interest free and has no fixed repayment terms.