REGISTERED NUMBER: SO301599 (Scotland)

Unaudited Financial Statements

for the Period

1 January 2024 to 31 March 2025

for

MAGNUS THOMSON LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

R J Henry

J A Henry

REGISTERED OFFICE:

295 Fenwick Road

Giffnock

Glasgow

G46 6UH

REGISTERED NUMBER:

SO301599 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 4.5 Turnberry House

175 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Tangible assets

4

916,301

916,301

CURRENT ASSETS

Debtors

109,550

58,678

Cash at bank

35,081

13,853

144,631

72,531

CREDITORS

Amounts falling due within one year

16,029

13,929

NET CURRENT ASSETS

128,602

58,602

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,044,903

974,903

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

919,903

919,903

MEMBERS' OTHER INTERESTS

Capital accounts

125,000

55,000

1,044,903

974,903

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

919,903

919,903

Members' other interests

125,000

55,000

Amounts due from members

(107,094

)

(57,436

)

937,809

917,467

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 period ended 31 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 24 November 2025 and were signed by:

R J Henry - Designated member

J A Henry - Designated member

1.	STATUTORY INFORMATION

Magnus Thomson 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

-

25% on cost

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 March 2025

934,697

DEPRECIATION

At 1 January 2024

and 31 March 2025

18,396

NET BOOK VALUE

At 31 March 2025

916,301

At 31 December 2023

916,301

5.

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.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.

6.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by Jonathan Henry and Richard Henry.