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Company No: OC445272 (England and Wales)

GKA ADVISORS LLP

Unaudited Financial Statements
For the financial period from 05 January 2023 to 31 January 2024
Pages for filing with the registrar

GKA ADVISORS LLP

Unaudited Financial Statements

For the financial period from 05 January 2023 to 31 January 2024

Contents

GKA ADVISORS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
GKA ADVISORS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 31.01.2024
£
Fixed assets
Tangible assets 4 1,471
1,471
Current assets
Debtors 5 140,091
Investments 6 186,570
Cash at bank and in hand 190,521
517,182
Creditors: amounts falling due within one year 7 ( 18,882)
Net current assets 498,300
Total assets less current liabilities 499,771
Net assets attributable to members 499,771
Represented by
Loans and other debts due to members within one year
Other amounts 499,771
499,771
Members' other interests
0
499,771
Total members' interests
Loans and other debts due to members 499,771
499,771

For the financial period ending 31 January 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of GKA Advisors LLP (registered number: OC445272) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

G Kadare 1 Ltd
Designated member
GKA ADVISORS LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial period from 05 January 2023 to 31 January 2024
GKA ADVISORS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial period from 05 January 2023 to 31 January 2024
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other amounts Total
£ £
Balance at 05 January 2023 0 0
Members' remuneration charged as an expense, including employment and retirement benefit costs 642,682 642,682
Members' interest after result for the financial period 642,682 642,682
Drawings (142,911) (142,911)
Amounts due to members 499,771
Balance at 31 January 2024 499,771 499,771

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

GKA ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 05 January 2023 to 31 January 2024
GKA ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 05 January 2023 to 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

GKA Advisors LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 7 Larnach Road, London, W6 9NX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

2. Employees

Period from
05.01.2023 to
31.01.2024
Number
Monthly average number of persons employed by the LLP during the year 0

3. Members' remuneration

Profits are shared among the directors in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

31.01.2024
Number
Average number of members during the financial period 2

Amounts paid under employment contract and amounts paid under the terms of the LLP agreement was £642,682.

4. Tangible assets

Computer equipment Total
£ £
Cost
At 05 January 2023 0 0
Additions 2,212 2,212
At 31 January 2024 2,212 2,212
Accumulated depreciation
At 05 January 2023 0 0
Charge for the financial period 741 741
At 31 January 2024 741 741
Net book value
At 31 January 2024 1,471 1,471

5. Debtors

31.01.2024
£
Trade debtors 126,116
Accrued income 12,500
Other debtors 1,475
140,091

6. Current asset investments

31.01.2024
£
Other investments – at cost less impairment 186,570

7. Creditors: amounts falling due within one year

31.01.2024
£
Trade creditors 3,600
Accruals 4,400
Other taxation and social security 10,882
18,882

8. Related party transactions

The designated members of the LLP are considered to be key management responsible for planning, directing and controlling the activities of the LLP. Transactions with the designated members are shown in the Reconciliation of Members Interests.