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REGISTERED NUMBER: SO302825 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2025

for

Colledge & Shields LLP

Colledge & Shields LLP (Registered number: SO302825)






Contents of the Financial Statements
for the Year Ended 31st March 2025




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Colledge & Shields LLP

General Information
for the Year Ended 31st March 2025







DESIGNATED MEMBERS: Mrs J C Colledge
Ms S M A Shields





REGISTERED OFFICE: 30 Castle Street
Dumfries
DUMFRIESSHIRE
DG1 1DU





REGISTERED NUMBER: SO302825 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Colledge & Shields LLP (Registered number: SO302825)

Balance Sheet
31st March 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,187 25,187

CURRENT ASSETS
Work in Progress 8,500 8,500
Debtors 5 92,284 96,458
Cash at bank and in hand 163,786 108,643
264,570 213,601
CREDITORS
Amounts falling due within one year 6 (79,778 ) (67,374 )
NET CURRENT ASSETS 184,792 146,227
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

209,979

171,414

LOANS AND OTHER DEBTS DUE TO
MEMBERS

209,979

171,414

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 209,979 171,414

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 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 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23rd June 2025 and were signed by:




Mrs J C Colledge - Designated member




Ms S M A Shields - Designated member


Colledge & Shields LLP (Registered number: SO302825)

Notes to the Financial Statements
for the Year Ended 31st March 2025

1. STATUTORY INFORMATION

Colledge & Shields 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
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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2024 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2024
and 31st March 2025 38,045
DEPRECIATION
At 1st April 2024
and 31st March 2025 12,858
NET BOOK VALUE
At 31st March 2025 25,187
At 31st March 2024 25,187

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 83,520 87,694
Other debtors 8,764 8,764
92,284 96,458

Colledge & Shields LLP (Registered number: SO302825)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 72,533 65,780
Other creditors 7,245 1,594
79,778 67,374