J & H Mitchell LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SO303818 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

J & H Mitchell LLP

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

18,595

19,519

CURRENT ASSETS

Debtors

5

247,995

208,265

Cash at bank and in hand

171,340

220,702

419,335

428,967

CREDITORS

Amounts falling due within one year

6

(96,152

)

(87,839

)

NET CURRENT ASSETS

323,183

341,128

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

341,778

360,647

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

287,778

306,647

MEMBERS' OTHER INTERESTS

Capital accounts

54,000

54,000

341,778

360,647

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

287,778

306,647

Members' other interests

54,000

54,000

341,778

360,647

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 2023.

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 26 July 2023 and were signed by:

P I Keith - Designated member

A A Innes - Designated member

1.	STATUTORY INFORMATION

J & H Mitchell LLP is a limited liability partnership domiciled in Scotland, registration number SO303818. The registered office is 51 Atholl Road, Pitlochry, PH16 5BU.

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 represents the amounts receivable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), the revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The members have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Provisions

Provisions are recognised when the partnership has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 18 (2022 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

83,905

55,145

139,050

Additions

973

3,175

4,148

Disposals

-

(6,090

)

(6,090

)

At 31 March 2023

84,878

52,230

137,108

DEPRECIATION

At 1 April 2022

71,242

48,289

119,531

Charge for year

1,981

2,867

4,848

Eliminated on disposal

-

(5,866

)

(5,866

)

At 31 March 2023

73,223

45,290

118,513

NET BOOK VALUE

At 31 March 2023

11,655

6,940

18,595

At 31 March 2022

12,663

6,856

19,519

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

82,270

35,419

Amounts recoverable on contract

90,546

116,007

Other debtors

75,179

56,839

247,995

208,265

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

6,270

7,812

Taxation and social security

68,417

42,395

Other creditors

21,465

37,632

96,152

87,839

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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