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REGISTERED NUMBER: OC378188 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Katy Hogben LLP

Katy Hogben LLP (Registered number: OC378188)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Katy Hogben LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mrs R K F Hogben
M Hogben





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC378188 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Katy Hogben LLP (Registered number: OC378188)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 17,500
Tangible assets 5 23,138 30,851
Investment property 6 1,000,000 875,000
1,023,138 923,351

CURRENT ASSETS
Debtors 7 15,783 10,726
Cash at bank 2,210 162
17,993 10,888
CREDITORS
Amounts falling due within one year 8 (12,060 ) (11,297 )
NET CURRENT ASSETS/(LIABILITIES) 5,933 (409 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,029,071

922,942

CREDITORS
Amounts falling due after more than one year 9 (1,760 ) (11,862 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,027,311

911,080

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,027,311 911,080
1,027,311 911,080

TOTAL MEMBERS' INTERESTS
Members' other interests 1,027,311 911,080

Katy Hogben LLP (Registered number: OC378188)

Balance Sheet - continued
31 March 2023


The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 23 December 2023 and were signed by:





Mrs R K F Hogben - Designated member

Katy Hogben LLP (Registered number: OC378188)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Katy Hogben 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other Income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Rental income is recognised on an accruals basis in accordance with the substance of the relevant agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Katy Hogben LLP (Registered number: OC378188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances 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 rate method.

Basic financial liabilities including trade and other payables 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Katy Hogben LLP (Registered number: OC378188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 425,000
AMORTISATION
At 1 April 2022 407,500
Charge for year 17,500
At 31 March 2023 425,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 17,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 42,313
DEPRECIATION
At 1 April 2022 11,462
Charge for year 7,713
At 31 March 2023 19,175
NET BOOK VALUE
At 31 March 2023 23,138
At 31 March 2022 30,851

Katy Hogben LLP (Registered number: OC378188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 39,000
DEPRECIATION
At 1 April 2022 8,938
Charge for year 7,516
At 31 March 2023 16,454
NET BOOK VALUE
At 31 March 2023 22,546
At 31 March 2022 30,062

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 875,000
Revaluations 125,000
At 31 March 2023 1,000,000
NET BOOK VALUE
At 31 March 2023 1,000,000
At 31 March 2022 875,000

Investment property is included at fair value as determined by the members.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 250,000
Valuation in 2022 (225,000 )
Valuation in 2023 125,000
Cost 850,000
1,000,000

Katy Hogben LLP (Registered number: OC378188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 15,783 10,726

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 10,102 9,362
Other creditors 1,958 1,935
12,060 11,297

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 1,760 11,862

10. CONTINGENT LIABILITIES

There is a cross guarantee in place with K&M Hogben Limited, whose bank loan balance totals £621,797 (2022: £621,776).