N4 Partners LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: SO306848 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

N4 Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A C Dowie

K Gibson

K L Mitchell

S M Powell

REGISTERED OFFICE:

Floor 3

1-4 Atholl Crescent

Edinburgh

EH3 8HA

REGISTERED NUMBER:

SO306848 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Intangible assets

4

120,000

140,000

Tangible assets

5

-

45,543

Investments

6

375

120,375

185,918

CURRENT ASSETS

Debtors

7

1,505,287

1,262,012

Cash at bank and in hand

3,435

138,889

1,508,722

1,400,901

CREDITORS

Amounts falling due within one year

8

(1,418,931

)

(1,366,527

)

NET CURRENT ASSETS

89,791

34,374

TOTAL ASSETS LESS CURRENT
LIABILITIES

210,166

220,292

CREDITORS

Amounts falling due after more than one
year

9

(10,126

)

(20,252

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

200,040

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

200,040

TOTAL MEMBERS' INTERESTS

Members' other interests

200,040

Amounts due from members

7

(1,419,117

)

(1,207,175

)

(1,219,077

)

(1,007,135

)

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.

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 30 September 2025 and were signed by:

A C Dowie - Designated member

1.	STATUTORY INFORMATION

N4 Partners 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

over the term of the lease

Computer equipment

-

20% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

200,000

AMORTISATION

At 1 January 2024

60,000

Charge for year

20,000

At 31 December 2024

80,000

NET BOOK VALUE

At 31 December 2024

120,000

At 31 December 2023

140,000

5.	TANGIBLE FIXED ASSETS

Improvements

to

Computer

property

equipment

Totals

£

COST

At 1 January 2024

94,538

38,597

133,135

Disposals

(94,538

)

(38,597

)

(133,135

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

63,343

24,249

87,592

Charge for year

4,726

1,949

6,675

Eliminated on disposal

(68,069

)

(26,198

)

(94,267

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

31,195

14,348

45,543

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

375

NET BOOK VALUE

At 31 December 2024

375

At 31 December 2023

375

Fixed asset investments are stated at cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

1,505,287

1,262,012

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,126

Trade creditors

21,268

15,827

Other creditors

1,387,537

1,340,574

1,418,931

1,366,527

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

10,126

20,252

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

70,086

114,491

Between one and five years

83,692

27,583

153,778

142,074

11.	RELATED PARTY DISCLOSURES

Included within Other Creditors is a loan of £1,338,125 (2023: £1,190,000) due to an associated company.