REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022 |
FOR |
JOSEPH KAHAN ASSOCIATES LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022 |
FOR |
JOSEPH KAHAN ASSOCIATES LLP |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2022 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JOSEPH KAHAN ASSOCIATES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2022 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
923 Finchley Road |
London |
NW11 7PE |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
ABRIDGED BALANCE SHEET |
31ST OCTOBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
134,692 |
72,913 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
5 |
134,692 |
72,913 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 134,692 | 72,913 |
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. |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
ABRIDGED BALANCE SHEET - continued |
31ST OCTOBER 2022 |
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 |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2022 |
1. | STATUTORY INFORMATION |
Joseph Kahan Associates 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 |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, for audit, accountancy and related services rendered excluding discounts, rebates and value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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 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. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Pension costs and other post-retirement benefits |
The company contributes to a defined contribution plan for the benefit of its employees. Contributions are recognised in profit or loss as they become payable. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
JOSEPH KAHAN ASSOCIATES LLP (REGISTERED NUMBER: OC329712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2022 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st November 2021 |
Additions |
At 31st October 2022 |
DEPRECIATION |
At 1st November 2021 |
Charge for year |
At 31st October 2022 |
NET BOOK VALUE |
At 31st October 2022 |
At 31st October 2021 |
5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up , the amounts included in "Loans and other debts due to members" will |
rank equally with unsecured creditors. |