Lairig a Mhuic LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SO301985 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Lairig a Mhuic LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs B J Malim

The Firm of Innerwick Estate

REGISTERED OFFICE:

5 Whitefriars Crescent

Perth

PH2 0PA

BUSINESS ADDRESS:

Innerwick House

Glenlyon

Aberfeldy

PH15 2PP

REGISTERED NUMBER:

SO301985 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

5 Whitefriars Crescent

Perth

Perthshire

PH2 0PA

FIXED ASSETS

Tangible assets

3

1,825,081

1,924,188

CURRENT ASSETS

Stocks

4,326

4,326

Debtors

4

38,097

202,133

Cash at bank

189,687

195,329

232,110

401,788

CREDITORS

Amounts falling due within one year

5

14,627

127,354

NET CURRENT ASSETS

217,483

274,434

TOTAL ASSETS LESS CURRENT LIABILITIES

2,042,564

2,198,622

CREDITORS

Amounts falling due after more than one year

6

-

351,536

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,042,564

1,847,086

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

2,002,564

1,807,086

MEMBERS' OTHER INTERESTS

Capital accounts

40,000

40,000

2,042,564

1,847,086

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

2,002,564

1,807,086

Members' other interests

40,000

40,000

2,042,564

1,847,086

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 2018.

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 of Part 15 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 small LLPs.

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 on 6 September 2018 and were signed by:

Mrs B J Malim - Designated member

1.	STATUTORY INFORMATION

Lairig a Mhuic 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 represents income arising from the sale of electricity and Feed in Tariff receipts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Hydro scheme

-

5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

3.	TANGIBLE FIXED ASSETS

Hydro

scheme

£

COST

At 1 April 2017

2,458,523

Additions

25,071

At 31 March 2018

2,483,594

DEPRECIATION

At 1 April 2017

534,335

Charge for year

124,178

At 31 March 2018

658,513

NET BOOK VALUE

At 31 March 2018

1,825,081

At 31 March 2017

1,924,188

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

30,626

194,782

Other debtors

7,471

7,351

38,097

202,133

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

106,498

Trade creditors

6,442

17,774

Taxation and social security

6,684

1,582

Other creditors

1,501

1,500

14,627

127,354

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

-

351,536

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

458,034

The members have provided a standard security over land and a guarantee supported by land and buildings

as security for the bank overdraft.

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other than members' capital classified as debt) rank equally with

other creditors who are unsecured in the event of a winding up.

There is no protection afforded to other creditors in such an event which is legally enforceable and cannot

be revoked solely by a decision of the members.

There is no restriction or limitation on the ability of the members to reduce the amount of members' other

interests'.

9.	ULTIMATE CONTROLLING PARTY