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Registered number: OC387625
Kimberley Trade LLP
Members' Report and
Unaudited Financial Statements
For The Year Ended 30 September 2023
Members' Report and Unaudited Financial Statements
Contents
Page
LLP Information 1
Members' Report 2
Income Statement 3
Statement of Financial Position 4—5
Reconciliation of Members' Interests 6—7
Notes to the Financial Statements 7—8
Page 1
LLP Information
Designated Members Mr Serhii Litviakov
Mrs Viktoriia Litviakova
LLP Registration Number OC387625
Registered Office 1 Kings Avenue
Winchmore Hill
London
N21 3NA
Page 1
Page 2
Members' Report
The members present their report and the financial statements for the year ended 30 September 2023.
Principal Activity
The LLP's principal activity continues to be that of international trade of wood.
Members
The designated members who held office during the year were as follows:
Mr Serhii Litviakov
Mrs Viktoriia Litviakova
 
Statement of Members' Responsibilities
The members are responsible for preparing the financial statements in accordance with applicable law and regulations.Company law as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law as applied to Limited Liability Partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss for that period. In preparing the financial statements the members are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the members by
Mr Serhii Litviakov
Designated Member
22/02/2024
Page 2
Page 3
Income Statement
2023 2022
Notes £ £
Administrative expenses (12,192 ) (13,664 )
OPERATING LOSS (12,192 ) (13,664 )
Other interest receivable and similar income 6,820 -
LOSS FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS (5,372 ) (13,664 )
The notes on pages 7 to 8 form part of these financial statements.
Page 3
Page 4
Statement of Financial Position
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 292,345 295,524
292,345 295,524
CURRENT ASSETS
Debtors 5 27,325 15,148
Cash at bank and in hand 330,096 340,035
357,421 355,183
Creditors: Amounts Falling Due Within One Year 6 (5,968 ) (4,297 )
NET CURRENT ASSETS (LIABILITIES) 351,453 350,886
TOTAL ASSETS LESS CURRENT LIABILITIES 643,798 646,410
Creditors: Amounts Falling Due After More Than One Year 7 (643,498 ) (646,110 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 300 300
REPRESENTED BY:
Equity
Members' other interests
Members' capital 300 300
300 300
TOTAL MEMBERS' INTEREST
Amounts due from members (19,778) (14,406)
Members' other interests 300 300
(19,478) (14,106)
Page 4
Page 5
For the year ending 30 September 2023 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
On behalf of the members
Mr Serhii Litviakov
Designated Member
22/02/2024
The notes on pages 7 to 8 form part of these financial statements.
Page 5
Page 6
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Members'Capital classified as Equity Other Reserves Total Equity Other amounts Total members' interest
£ £ £ £ £
Amounts due from members - - - (742) -
Balance at 1 October 2021 300 - 300 (742) (442)
Profit/(loss) for the financial year available for discretionary division among members - (13,664 ) (13,664 ) - (13,664 )
Members' interests after profit/(loss) for the year 300 (13,664) (13,364) (742) (14,106)
Other divisions of profits (losses) - 13,664 13,664 (13,664) -
Amounts due from members - - - (14,406) -
As at 30 September 2022 and 1 October 2022 300 - 300 (14,406) (14,106)
Profit/(loss) for the financial year available for discretionary division among members - (5,372 ) (5,372 ) - (5,372 )
Members' interests after profit/(loss) for the year 300 (5,372) (5,072) (14,406) (19,478)
Other divisions of profits (losses) - 5,372 5,372 (5,372) -
Amounts due from members - - - (19,778) -
As at 30 September 2023 300 - 300 (19,778) (19,478)
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Kimberley Trade LLP is a limited liability partnership, incorporated in England & Wales, registered number OC387625 . The Registered Office is 1 Kings Avenue, Winchmore Hill, London, N21 3NA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including members, during the year was: 2 (2022: 2)
2 2
4. Investments
Unlisted
£
Cost
As at 1 October 2022 295,524
Revaluations (3,179 )
As at 30 September 2023 292,345
Provision
As at 1 October 2022 -
As at 30 September 2023 -
Net Book Value
As at 30 September 2023 292,345
As at 1 October 2022 295,524
Page 7
Page 8
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,547 742
Amounts due from members 19,778 14,406
27,325 15,148
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,968 4,297
5,968 4,297
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Trade creditors 643,498 646,110
643,498 646,110
8. Loans and other debts due to members
In the event of a winding up of the LLP, amounts classified as 'other debts due to members' would rank behind other non-secured creditors. There are no restrictions that exist on the ability of members to reduce the amounts classifies as 'members capital'.
Page 8