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REGISTERED NUMBER: OC426634 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

KISEMBA PROPERTY MANAGEMENT LLP

KISEMBA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426634)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KISEMBA PROPERTY MANAGEMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mr Winston Fox
W Fox Property Development Ltd





REGISTERED OFFICE: 104 Foxearth Road
South Croydon
CR2 8EF





REGISTERED NUMBER: OC426634 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

KISEMBA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426634)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Reinstated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,543,000 2,543,000

CURRENT ASSETS
Debtors 47,346 37,090
Cash at bank 10,506 -
57,852 37,090
CREDITORS
Amounts falling due within one year 5 1,273 1,200
NET CURRENT ASSETS 56,579 35,890
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,599,579

2,578,890

LOANS AND OTHER DEBTS DUE TO
MEMBERS

56,579

35,890

MEMBERS' OTHER INTERESTS
Capital accounts 2,543,000 2,543,000
2,599,579 2,578,890

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 56,579 35,890
Members' other interests 2,543,000 2,543,000
Amounts due from members (47,346 ) (37,090 )
2,552,233 2,541,800

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.

KISEMBA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426634)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 26 December 2023 and were signed by:





Mr Winston Fox - Designated member

KISEMBA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426634)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Kisemba Property Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the members are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

FINANCIAL INSTRUMENTS
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

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.

KISEMBA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates, or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.


Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2022
and 31 March 2023 2,543,000
Net book value
At 31 March 2023 2,543,000
At 31 March 2022 2,543,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
Reinstated
£    £   
Other creditors 1,273 1,200