Poddar Partnership LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: SO303453 (Scotland)

Financial Statements

for the Year Ended 31 March 2025

for

Poddar Partnership LLP

Page

General Information

1

Balance Sheet

2

Reconciliation of Members' Interests

3

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Mrs S Poddar

Mr S Poddar

REGISTERED OFFICE:

40 Lambhill Street

Kinning Park

Glasgow

G41 1AU

REGISTERED NUMBER:

SO303453 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

SOLICITORS:

Morton Fraser Lawyers

145 St Vincent Street

Glasgow

G2 5JF

CURRENT ASSETS

Cash at bank

7,876

CREDITORS

Amounts falling due within one year

4

1,000

NET CURRENT ASSETS

6,876

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

6,876

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

6,876

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

6,876

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 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.

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 22 December 2025 and were signed by:

Mrs S Poddar - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

6,876

Amount due from members

-

Balance at 1 April 2024

-

6,876

Profit for the financial year
available for discretionary division
among members

-

Members' interests after profit for
the year

-

6,876

Amount due to members

6,876

Amount due from members

-

Balance at 31 March 2025

-

6,876

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

6,876

Amount due from members

-

Balance at 1 April 2023

-

6,876

Profit for the financial year
available for discretionary division
among members

-

Members' interests after profit for
the year

-

6,876

Amount due to members

6,876

Amount due from members

-

Balance at 31 March 2024

-

6,876

1.	STATUTORY INFORMATION

Poddar Partnership 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.

Financial instruments

The limited liability partnership 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 limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

Bank loans and overdrafts

Bank loans and overdrafts are initially measured at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest rate method. Interest expense is recognised on the basis of the effective interest rate method and is included in interest payable and other similar charges.

Trade, other and inter-company creditors

Trade, other and inter-company creditors payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Where the instrument with a trade, other and inter-company creditors constitutes a financing transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar instrument.

Turnover

Turnover comprises revenue recognised by the LLP in respect of rental property during the year.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - 2 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

The bank has security over the liabilities of the company in the form of a fixed and floating charge over the investment property of the LLP.

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The LLP has chosen to present the reconciliation of members' interests as a primary statement in place of a statement of changes in equity.

Members' capital classed as equity represents capital that the LLP has an unconditional right to refuse repayment of to the holder, under any circumstances. No additional rights or preferences are attached to the members' capital classed as equity.

In the events of a winding up of the LLP, other debts due to members rank pari passu with other unsecured creditors whilst the members' capital shall be subordinate to claims of all other creditors of the LLP.

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