REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
KJTG Proprietary Trading LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
KJTG Proprietary Trading LLP |
KJTG Proprietary Trading LLP (Registered number: OC432165) |
Contents of the Financial Statements |
for the year ended 30 June 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
KJTG Proprietary Trading LLP |
General Information |
for the year ended 30 June 2023 |
Designated members: |
Registered office: |
Registered number: |
KJTG Proprietary Trading LLP (Registered number: OC432165) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 59,993 | 77,862 |
Loans and other debts due to members | - | - |
Members' other interests |
Capital accounts | 130,000 | 130,000 |
Other reserves | ( |
) | ( |
) |
59,993 | 77,862 |
Total members' interests |
Members' other interests | 59,993 | 77,862 |
Amounts due from members | 4 | (40,000 | ) | - |
19,993 | 77,862 |
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. |
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 |
KJTG Proprietary Trading LLP (Registered number: OC432165) |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
1. | Statutory information |
KJTG Proprietary Trading 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 |
The presentational and functional currency of the financial statements is the Pound Sterling (£). |
Amounts in these financial statements are rounded to the nearest £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised when receivable, on the accruals basis. |
Financial instruments |
Financial assets and liabilities are recognised when the firm becomes party to the contractual provisions of the financial instrument. The firm only holds basic financial instruments which comprise cash and cash equivalents, trade and other payables. As such, the LLP has chosen to apply the provisions of Section 11 Basic Financial Instruments. |
Financial assets and liabilities - classified as basic financial instruments |
(i) Cash at bank and in hand |
Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
(ii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid. |
Taxation |
As an LLP, KJTG Proprietary Trading LLP has made no provision for taxation in the accounts. Each partner is exclusively liable for any tax liabilities arising out of their interest in the Partnership, which will be assessed on the individual partners and not on the Partnership. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
These financial statements have been prepared on a going concern basis. |
Based on assessment, the members consider that the LLP maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities. |
In addition, the LLP's assets are assessed for recoverability on a regular basis, and the members consider that the LLP is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
KJTG Proprietary Trading LLP (Registered number: OC432165) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
3. | Employee information |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other creditors |
6. | Related party disclosures |
At the year end, an amount of £193,934 (2022: £140,238) was included in creditors owed to LLPs in which the designated members have a controlling interest. |
During the period, the LLP was recharged £47,500 from a related party in respect of wages. |
7. | Ultimate controlling party |
The members have equal control of the LLP. |