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REGISTERED NUMBER: OC434669 (England and Wales)


















Report of the Members and

Unaudited Financial Statements

for the Period 1 April 2023 to 30 March 2024

for

MCSKEENS PARTNERSHIP LLP

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


MCSKEENS PARTNERSHIP LLP

General Information
for the Period 1 April 2023 to 30 March 2024







DESIGNATED MEMBERS: Ms H McMillan
J Skeens
MCSKEENS PROPERTY PORTFOLIO LTD





REGISTERED OFFICE: 38 Woodland Rise
Studham
Bedfordshire
LU6 2PF





REGISTERED NUMBER: OC434669 (England and Wales)






MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Report of the Members
for the Period 1 April 2023 to 30 March 2024

The members present their report with the financial statements of the LLP for the period 1 April 2023 to 30 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of

DESIGNATED MEMBERS
The designated members during the period under review were:

Ms H McMillan
J Skeens
MCSKEENS PROPERTY PORTFOLIO LTD

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £80,717 (2023 - £176,838 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





J Skeens - Designated member


30 May 2025

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Income Statement
for the Period 1 April 2023 to 30 March 2024

Period
1.4.23
to Year Ended
30.3.24 31.3.23
£    £   

TURNOVER 186,721 181,154

Administrative expenses (34,246 ) (49,950 )
152,475 131,204

Gain/loss on revaluation of investment
property

-

105,000
OPERATING PROFIT 152,475 236,204


Interest payable and similar expenses (71,758 ) (59,366 )
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




80,717




176,838

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Balance Sheet
30 March 2024

30.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,392,530 4,392,530

CURRENT ASSETS
Debtors 5 94 -
Cash at bank 40,880 49,780
40,974 49,780
CREDITORS
Amounts falling due within one year 6 10,160 -
NET CURRENT ASSETS 30,814 49,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,423,344

4,442,310

CREDITORS
Amounts falling due after more than one
year

7

2,578,595

2,576,596
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,844,749

1,865,714

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,844,749

1,865,714

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,844,749 1,865,714

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 period ended 30 March 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.

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Balance Sheet - continued
30 March 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 30 May 2025 and were signed by:





J Skeens - Designated member

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 March 2024

1. STATUTORY INFORMATION

MCSKEENS PARTNERSHIP 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
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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 30 March 2024 4,392,530
NET BOOK VALUE
At 30 March 2024 4,392,530
At 31 March 2023 4,392,530

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2023 105,000
Cost 4,287,530
4,392,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Trade debtors 94 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Other creditors 10,160 -

MCSKEENS PARTNERSHIP LLP (Registered number: OC434669)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 31.3.23
£    £   
Bank loans 2,578,595 2,576,596

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in liquidation