MacRae And Kaur LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: SO303675 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

MacRae And Kaur LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DESIGNATED MEMBERS:

Mrs J K Chall

JKC Atlantic Limited

Ms C M Sutherland

REGISTERED OFFICE:

45 (Sixth Floor) Hope Street

Glasgow

G2 6AE

REGISTERED NUMBER:

SO303675 (Scotland)

ACCOUNTANTS:

T B Dunn & Co

Ground Floor (part)

8000 Academy Business Park

51 Gower Street

GLASGOW

G51 1PR

FIXED ASSETS

Intangible assets

5

32,000

36,000

Tangible assets

6

12,194

6,528

44,194

42,528

CURRENT ASSETS

Debtors

99,908

94,290

Cash at bank and in hand

74,445

108,411

174,353

202,701

CREDITORS

Amounts falling due within one year

179,067

189,684

NET CURRENT (LIABILITIES)/ASSETS

(4,714

)

13,017

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,480

55,545

CREDITORS

Amounts falling due after more than one
year

7

28,533

38,914

NET ASSETS ATTRIBUTABLE TO
MEMBERS

10,947

16,631

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

10,947

16,631

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

10,947

16,631

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year 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 30 December 2025 and were signed by:

Mrs J K Chall - Designated member

Ms C M Sutherland - Designated member

1.	STATUTORY INFORMATION

MacRae And Kaur 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

Turnover

Turnover represents the fair value of professional services provided during the year to clients. Turnover is recognised as contract activity and the right to consideration earned. Fair value reflects the amount expected to be recovered from clients and is based on time spent, skills and expertise provided but excludes VAT.

Turnover which has been recognised but not invoiced by the balance sheet date is included in debtors as 'Amounts recoverable on contracts'.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, 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

-

20% on cost

Computer equipment

-

33% on reducing balance

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Allocation of profits and drawings

Under the LLP's members' agreement, members receive allocations of profit which are broadly in line with the firm's remuneration policy generally. These allocations are drawn regularly during the period.

Profit for discretionary division amongst members is allocated annually when the accounts are prepared. Such profits are credited to members and either retained by the LLP as additional members' capital or distributed as final drawings for the period depending on the firm's operating and investment requirements.

Any over distribution of profits during the period is recoverable from members.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2024 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

40,000

AMORTISATION

At 1 April 2024

4,000

Amortisation for year

4,000

At 31 March 2025

8,000

NET BOOK VALUE

At 31 March 2025

32,000

At 31 March 2024

36,000

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

10,810

Additions

9,320

At 31 March 2025

20,130

DEPRECIATION

At 1 April 2024

4,282

Charge for year

3,654

At 31 March 2025

7,936

NET BOOK VALUE

At 31 March 2025

12,194

At 31 March 2024

6,528

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

2025

2024

£

Repayable by instalments

Other loans more 5yrs instal

-

2,902

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of MacRae And Kaur LLP for the year ended 31 March 2025 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the members of MacRae And Kaur LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MacRae And Kaur LLP and state those matters that we have agreed to state to the members of MacRae And Kaur LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that MacRae And Kaur LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MacRae And Kaur LLP. You consider that MacRae And Kaur LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MacRae And Kaur LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

T B Dunn & Co

Ground Floor (part)

8000 Academy Business Park

51 Gower Street

GLASGOW

G51 1PR

30 December 2025