Strathblair Associates LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SO305865 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Strathblair Associates LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Pine Marten Consulting Limited

Strathblair Capital Limited

REGISTERED OFFICE:

6 Albyn Drive

Murieston

Livingston

West Lothian

EH54 9JN

REGISTERED NUMBER:

SO305865 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

23 Sauchiehall Street

Glasgow

G2 3AD

CURRENT ASSETS

Debtors

4

15,079

25,506

Cash at bank

549

1,809

15,628

27,315

CREDITORS

Amounts falling due within one year

5

14,626

25,313

NET CURRENT ASSETS

1,002

2,002

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,002

2,002

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

1,002

2,002

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

1,002

2,002

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 2021.

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 9 August 2022 and were signed by:

Pine Marten Consulting Limited - Designated member

1.	STATUTORY INFORMATION

Strathblair Associates 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 and revenue recognition

Turnover represent fee income from consultancy services, net of vat.

Revenue is recognised when the service has ben provided to the client.

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method.

The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost comprise cash, amounts owed by related parties and accrued income. Financial liabilities comprise trade creditors, accruals and amounts owed to related parties.

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.

Members' remuneration

The profits/(losses) of the LLP are divided among the members in accordance with the members agreement.

Taxation

The taxation payable on the partnership profits is the personal liability of the members during the year and consequently neither taxation nor related deferred taxation is accounted for in the financial statements.

Amounts retained for tax are treated in the same way as other profits and are so included in "Loans and other debts due to members" or "Members' interests" depending on whether or not division of profit has occurred.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

15,079

25,506

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

13,828

24,563

Taxation and social security

198

150

Other creditors

600

600

14,626

25,313

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In accordance with the SORP "Accounting by Limited Liability Partnerships" all amounts due to members are classified as a liability.

Loans and other debts due to members rank after secured and ordinary creditors in the event of a winding up.

7.	RELATED PARTY DISCLOSURES

In 2017 the members' made loans to the LLP. Pine Marten Consulting Limited's loan was £7,250 and Strathblair Capital Limited's was £10,000. The following balances were outstanding at the year end:

Pine Marten Consulting Limited £501

Strathblair Capital Limited £501

These loan balances are unsecured, interest free and repayable on demand.

During the period payments were made by the LLP to the members' for services rendered, which are included in associates costs within the profit and loss account.