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REGISTERED NUMBER: OC365042 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

KAY & PASCOE LLP

KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KAY & PASCOE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DESIGNATED MEMBERS: J C Kay
Mrs SL Kay
L O Pascoe
Mrs F L Connah
Mrs T Sanger





REGISTERED OFFICE: 56a High Street
Heathfield
East Sussex
TN21 8JB





REGISTERED NUMBER: OC365042 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 20,840 17,776

CURRENT ASSETS
Stocks 5 8,289 7,685
Debtors 6 130,347 129,870
Cash at bank and in hand 83,989 96,906
222,625 234,461
CREDITORS
Amounts falling due within one year 7 (64,564 ) (60,398 )
NET CURRENT ASSETS 158,061 174,063
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

178,901

191,839

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

178,901

191,839

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 178,901 191,839

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.

KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)

STATEMENT OF FINANCIAL POSITION - 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 11 August 2022 and were signed by:




L O Pascoe - Designated member




Mrs SL Kay - Designated member


KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Kay & Pascoe LLP is registered in England and Wales. 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.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2021 12,988 15,438 28,644 57,070
Additions - - 9,664 9,664
Disposals - (1,658 ) (15,036 ) (16,694 )
At 31 March 2022 12,988 13,780 23,272 50,040
DEPRECIATION
At 1 April 2021 3,896 9,426 25,972 39,294
Charge for year 1,299 1,202 3,862 6,363
Eliminated on disposal - (1,421 ) (15,036 ) (16,457 )
At 31 March 2022 5,195 9,207 14,798 29,200
NET BOOK VALUE
At 31 March 2022 7,793 4,573 8,474 20,840
At 31 March 2021 9,092 6,012 2,672 17,776

5. STOCKS
2022 2021
£    £   
Work-in-progress 8,289 7,685

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 112,121 110,758
Other debtors 18,226 19,112
130,347 129,870

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 7,146 5,575
Taxation and social security 51,312 48,252
Other creditors 6,106 6,571
64,564 60,398

KAY & PASCOE LLP (REGISTERED NUMBER: OC365042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 15,542 20,500
Between one and five years 48,000 51,542
In more than five years 16,000 28,000
79,542 100,042

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.

10. CLIENT ACCOUNTS

The LLP held one client bank account during the year, the balance of which is wholly represented by balances due to client.

2022 2021
£ £

Client account
567,87
1
291,82
6