Reed Insulation LLP - Accounts to registrar (filleted) - small 18.2

Reed Insulation LLP - Accounts to registrar (filleted) - small 18.2

REED INSULATION LIMITED LIABILITY PARTNERSHIP - Company Information

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REGISTERED NUMBER: SO301257 (Scotland)















Financial Statements for the Year Ended 31 March 2022

for

Reed Insulation LLP
Reed Insulation LLP (Registered number: SO301257)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reed Insulation LLP

General Information
for the Year Ended 31 March 2022







DESIGNATED MEMBERS: L Reed
Mrs L Burns
Mrs S Cameron
Mrs. D M Reed





REGISTERED OFFICE: Unit 2
Riverside Court
Cupar
Fife
KY15 5JY





REGISTERED NUMBER: SO301257 (Scotland)





ACCOUNTANTS: Monteaths
Cairnfield
14 School Road
Balmullo
St Andrews
Fife
KY16 0BD
Page 1
Reed Insulation LLP (Registered number: SO301257)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,804 57,956

CURRENT ASSETS
Debtors 5 97,302 155,869
Cash at bank 22,601 25,709
119,903 181,578
CREDITORS
Amounts falling due within one year 6 29,792 84,298
NET CURRENT ASSETS 90,111 97,280
TOTAL ASSETS LESS CURRENT
LIABILITIES
136,915
155,236

CREDITORS
Amounts falling due after more than one
year
7
-
30,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS
136,915
125,236

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
136,915
125,236

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 136,915 125,236
Amounts due from members 5 (86,967 ) (76,368 )
49,948 48,868

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 2022.

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 notes form part of these financial statements

Page 2 continued...
Reed Insulation LLP (Registered number: SO301257)

Balance Sheet - continued
31 March 2022


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 5 October 2022 and were signed by:





L Reed - Designated member

The notes form part of these financial statements

Page 3
Reed Insulation LLP (Registered number: SO301257)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Reed Insulation 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 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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 6 (2021 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 10,000 127,781 137,781
Additions - 2,518 2,518
Disposals - (10,500 ) (10,500 )
At 31 March 2022 10,000 119,799 129,799
DEPRECIATION
At 1 April 2021 - 79,825 79,825
Charge for year - 12,268 12,268
Eliminated on disposal - (9,098 ) (9,098 )
At 31 March 2022 - 82,995 82,995
NET BOOK VALUE
At 31 March 2022 10,000 36,804 46,804
At 31 March 2021 10,000 47,956 57,956

Page 4 continued...
Reed Insulation LLP (Registered number: SO301257)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 678 63,749
Other debtors 96,624 92,120
97,302 155,869

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 25,255 73,025
Taxation and social security 2,180 5,479
Other creditors 2,357 5,794
29,792 84,298

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Other creditors - 30,000

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up loans and other debts due to members will be paid after other creditors. There are no restrictions on the ability of members to reduce the amount of Members' other interests.

Page 5