Ness Ventures LLP - LLP accounts 20.1

REGISTERED NUMBER: SO303660 (Scotland)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Ness Ventures LLP

Page

General Information

1

Report of the Members

2

Chartered Certified Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

L J Dalgarno

R A Dalgarno

Mrs D S Dalgarno

Mrs S L Dalgarno

A D Johnson

REGISTERED OFFICE:

33 Harbour Road

Inverness

IV1 1UA

REGISTERED NUMBER:

SO303660 (Scotland)

ACCOUNTANTS:

RA Accountants LLP

Chartered Certified Accountants

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

The members present their report with the financial statements of the LLP for the year ended 31 March 2022.

DESIGNATED MEMBERS

The designated members during the year under review were:

L J Dalgarno

R A Dalgarno

Mrs D S Dalgarno

Mrs S L Dalgarno

A D Johnson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1 (2021 - £NIL profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

L J Dalgarno - Designated member

23 December 2022

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 Ness Ventures LLP for the year ended 31 March 2022 which comprise the Profit and Loss Account, 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 http://www.accaglobal.com/rulebook.

This report is made solely to the members of Ness Ventures 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 Ness Ventures LLP and state those matters that we have agreed to state to the members of Ness Ventures LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 Ness Ventures 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 Ness Ventures LLP. You consider that Ness Ventures 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 Ness Ventures 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.

RA Accountants LLP

Chartered Certified Accountants

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

23 December 2022

TURNOVER

-

Administrative expenses

(1

)

-

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

1

-

CURRENT ASSETS

Debtors

7,587

-

Cash at bank

78,482

79,097

86,069

79,097

CREDITORS

Amounts falling due within one year

4

3,543

-

NET CURRENT ASSETS

82,526

79,097

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

82,526

79,097

LOANS AND OTHER DEBTS DUE TO
MEMBERS

82,521

79,092

MEMBERS' OTHER INTERESTS

Capital accounts

5

82,526

79,097

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

82,521

79,092

Members' other interests

5

Amounts due from members

(7,587

)

-

74,939

79,097

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 financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2022 and were signed by:

L J Dalgarno - Designated member

1.	STATUTORY INFORMATION

Ness Ventures 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.	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" and the companies Act 2006.

The financial statements have been prepared under historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2021 - 1 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

Trade creditors

17

-

Other creditors

3,526

-

3,543

-

5.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount owed by Ness Ventures Partners Ltd (2021:Nil) and

and North Ventures Property Ltd £3,188 (2021:Nil), companies related to the designated members.