Limited Liability Partnership registration number OC431647 (England and Wales)
SCOTTLEE FINANCIAL PLANNING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SCOTTLEE FINANCIAL PLANNING LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SCOTTLEE FINANCIAL PLANNING LLP
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,648
5,067
Current assets
Cash at bank and in hand
22,129
10,182
Creditors: amounts falling due within one year
4
(15,586)
(15,127)
Net current assets/(liabilities)
6,543
(4,945)
Total assets less current liabilities and net assets attributable to members
9,191
122
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
68,191
9,122
Other amounts
(62,000)
(12,000)
6,191
(2,878)
Members' other interests
Members' capital classified as equity
3,000
3,000
9,191
122

For the financial period ended 31 October 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 8 August 2025 and are signed on their behalf by:
08 August 2025
LWM AR Holdco Limited
Designated member
Limited Liability Partnership registration number OC431647 (England and Wales)
SCOTTLEE FINANCIAL PLANNING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Scottlee Financial Planning LLP is a limited liability partnership incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
Computers
20% straight line
SCOTTLEE FINANCIAL PLANNING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2024
2024
Number
Number
Total
9
9
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 October 2024
20,746
Depreciation and impairment
At 1 April 2024
15,679
Depreciation charged in the period
2,419
At 31 October 2024
18,098
Carrying amount
At 31 October 2024
2,648
At 31 March 2024
5,067
4
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
327
45
Taxation and social security
5,955
7,288
Other creditors
9,304
7,794
15,586
15,127
SCOTTLEE FINANCIAL PLANNING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

6
Events after the reporting period

Subsequent to the reporting date, there has been a change to the significant ownership of the partnership.

 

On 4 December 2024, a transfer of ownership from Mr R Lee and Miss K Scott took place which transferred 100% of ownership to LWM AR Holdco Limited as corporate member. A second corporate member LWM AR Limited was added on 17 February 2025.

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