Registered No. OC417283 (England and Wales)
YAK KAPITAL LLP
Unaudited accounts
for the year ended 31 December 2022
YAK KAPITAL LLP
LLP Information
for the year ended 31 December 2022
Designated members
Mr Milan Markovic
Registered Number
OC417283 (England and Wales)
Registered Office
Suite 1, 7th Floor
50 Broadway
London
SW1H 0BL
Accountants
Mittal & Associates, Chartered Accountants
Boundary House
Boston Road
London
W7 2QE
YAK KAPITAL LLP
Statement of financial position
as at 31 December 2022
Investments
2,646,232
2,646,232
Cash at bank and in hand
297,802
299,866
Net current assets
297,802
299,866
Total assets less current liabilities
2,944,034
2,946,098
Creditors: amounts falling due after more than one year
(1,500)
(1,500)
Net assets attributable to members
2,942,534
2,944,598
Loans and other debts due to members
2,911,282
2,911,282
Members' capital classified as equity
500
500
Other reserves
30,752
32,816
Loans and other debts due to members
2,911,282
2,911,282
Members' other interests
31,252
33,316
For the year ending 31 December 2022 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 29 September 2023.
Mr Stanisha Ognjanovich
Designated member
Limited Liability Partnership Registration No. OC417283
YAK KAPITAL LLP
Notes to the Accounts
for the year ended 31 December 2022
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 50 years
Plant & machinery
over 4 years
Fixtures & fittings
over 5 years
Investments in subsidiaries, associates, and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
YAK KAPITAL LLP
Notes to the Accounts
for the year ended 31 December 2022
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
YAK KAPITAL LLP is a limited liability partnership, incorporated in England and Wales, registration number OC417283. Its registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL.
3
Tangible fixed assets
Computer equipment
4
Investments
Other investments
At 1 January 2022
2,646,232
At 31 December 2022
2,646,232
5
Creditors: amounts falling due after more than one year
2022
2021
Trade creditors
1,500
1,500
6
Loans and other debts due to members
2022
2021
Loans from members
2,911,282
2,911,282
Amounts falling due within one year
2,911,282
2,911,282
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
YAK KAPITAL LLP
Notes to the Accounts
for the year ended 31 December 2022
7
Average number of employees
During the year the average number of employees was 2 (2021: 2).