Gist Trading Llp Accounts






Gist Trading Llp

	Registered No. SO302925
	Information for Filing with the Registrar
		31 March 2025

at	31 March 2025

Registered No.			SO302925	Notes	2025	2024
					£	£
Fixed assets

	Tangible assets			5	355,000	380,000


					355,000	380,000
Current assets



	Cash at bank and in hand				57,041	10,890
					57,041	10,890
Creditors: Amounts falling due within one year				6	(17,156)	(13,156)
Net current assets/(liabilities)					39,885	(2,266)
Total assets less current liabilities					394,885	377,734
Creditors: Amounts falling due after more than one year				7	(1,667)	(10,667)

Net assets attributable to members					393,218	367,067

Represented by:
	Loans and other debts due to members				340,806	340,806
	Members' other interests


		Other reserves			52,412	26,261
					52,412	26,261

					393,218	367,067



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 2025 the LLP 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 LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 11 September 2025 and signed on its behalf by:
N. Aitken
Designated member
11 September 2025

for the year ended 31 March 2025

General information

Gist Trading Llp is a limited liability partnership and incorporated in Scotland.

Its registered number is: SO302925

Its registered office is:

Its trading address is:

Bluebell Wood

Glenberview Mews

Torwood

FK5 4ZQ

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

25% Straight Line

Furniture, fittings and equipment

20% Straight Line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

3	Information in relation to members
		2025	2024
		Number	Number
	The average number of members during the year :	2	2

4	Employees
		2025	2024
		Number	Number

	The average number of persons employed during the year was:	0	0

5	Tangible fixed assets
		Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Total
		£	£	£	£
	Cost
	At 1 April 2024	380,000	3,968	4,003	387,971



	Disposals	(25,000)	-	-	(25,000)
	At 31 March 2025	355,000	3,968	4,003	362,971
	Depreciation
	At 1 April 2024	-	3,968	4,003	7,971




	At 31 March 2025	-	3,968	4,003	7,971
	Net book values
	At 31 March 2025	355,000	-	-	355,000
	At 31 March 2024	380,000	-	-	380,000

6	Creditors:
	amounts falling due within one year
		2025	2024
		£	£
	Bank loans and overdrafts	10,000	11,000






	Accruals and deferred income	7,156	2,156
		17,156	13,156

7	Creditors:
	amounts falling due after more than one year
		2025	2024
		£	£
	Bank loans and overdrafts	1,667	10,667






		1,667	10,667

8	Loans and other debts due to members
		2025	2024
		£	£
	Members' capital classified as a liability	2	2
	Loans from members	10,000	10,000

	Amounts due to members in respect of profits	330,804	330,804
		340,806	340,806


	Amounts falling due after more than one year	340,806	340,806
		340,806	340,806