Barochan Heathfield LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: SO302970 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

BAROCHAN HEATHFIELD LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R & R Investments Limited

A Russell

REGISTERED OFFICE:

1st Floor 6 Forbes Drive

Heathfield Industrial Estate

Ayr

KA8 9FG

REGISTERED NUMBER:

SO302970 (Scotland)

ACCOUNTANTS:

Bannerman Johnstone Maclay

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

Bank of Scotland

235 Sauchiehall Street

Glasgow

G2 3EY

SOLICITORS:

MacRoberts

Capella

60 York Street

Glasgow

G2 8JX

FIXED ASSETS

Tangible assets

4

-

Investment property

5

7,200,000

CURRENT ASSETS

Debtors

6

5,409,784

4,297,559

Cash at bank

179,020

230,809

5,588,804

4,528,368

CREDITORS

Amounts falling due within one year

7

83,889

76,060

NET CURRENT ASSETS

5,504,915

4,452,308

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,704,915

11,652,308

CREDITORS

Amounts falling due after more than one
year

8

38,400

NET ASSETS ATTRIBUTABLE TO
MEMBERS

12,666,515

11,613,908

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

5,102,969

4,050,362

MEMBERS' OTHER INTERESTS

Capital accounts

7,563,546

12,666,515

11,613,908

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

5,102,969

4,050,362

Members' other interests

7,563,546

Amounts due from members

6

(4,912,859

)

(3,627,659

)

7,753,656

7,986,249

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 30 April 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 11 November 2025 and were signed by:

R & R Investments Limited - Designated member

1.	STATUTORY INFORMATION

Barochan Heathfield LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The turnover shown in the profit and loss account represents rental income earned during the year, exclusive of Value Added Tax.

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

-

25% on cost

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.

Financial instruments

The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including certain creditors and loans from related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2024

and 30 April 2025

2,000

DEPRECIATION

At 1 May 2024

and 30 April 2025

2,000

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

7,200,000

Disposals

(169,545

)

Revaluations

169,545

At 30 April 2025

7,200,000

NET BOOK VALUE

At 30 April 2025

7,200,000

At 30 April 2024

7,200,000

If the investment properties had not been revalued, they would have been included at their historical costs of £8,359,735 (2024: £8,744,547).

The properties were last valued on 30 May 2024 by Shepherd Commercial under the standards dictated by The Royal Institution of Chartered Surveyors. The basis of valuation used for all valuations is open market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

21,291

19,900

Amounts due from related undertakings

475,634

650,000

Amounts due from members

4,912,859

3,627,659

5,409,784

4,297,559

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

132

2,526

Other creditors

83,757

73,534

83,889

76,060

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Other creditors

38,400

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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