Registered number
OC358971
Kelston Tump LLP
Unaudited Filleted Accounts
31 March 2023
Kelston Tump LLP
Registered number: OC358971
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,479,236 1,475,355
Current assets
Debtors 4 5,472 750
Cash at bank and in hand 113,351 103,339
118,823 104,089
Creditors: amounts falling due within one year 5 (11,882) (11,850)
Net current assets 106,941 92,239
Total assets less current liabilities 1,586,177 1,567,594
Net assets attributable to members 1,586,177 1,567,594
Represented by:
Members' other interests
Members' capital classified as equity 1,671,808 1,671,808
Other reserves (85,631) (104,214)
1,586,177 1,567,594
1,586,177 1,567,594
Total members' interests
Members' other interests 1,586,177 1,567,594
1,586,177 1,567,594
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 31 October 2023 and signed on their behalf by:
William Heath
Designated member
Kelston Tump LLP
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 1,467,789 82,417 1,550,206
Additions - 7,695 7,695
At 31 March 2023 1,467,789 90,112 1,557,901
Depreciation
At 1 April 2022 - 74,851 74,851
Charge for the year - 3,814 3,814
At 31 March 2023 - 78,665 78,665
Net book value
At 31 March 2023 1,467,789 11,447 1,479,236
At 31 March 2022 1,467,789 7,566 1,475,355
4 Debtors 2023 2022
£ £
Trade debtors 3,756 750
Other debtors 1,716 -
5,472 750
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 301 1,780
Other taxes and social security costs - 3,050
Other creditors 11,581 7,020
11,882 11,850
6 Other information
Kelston Tump LLP is a limited liability partnership incorporated in England. Its registered office is:
St Lawrence
Lansdown
Bath
Somerset
BA1 5TD
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