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Registered Number: OC329948
England & Northern Ireland

 

 

 

T&K ACCOUNTANCY LLP


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Accountant's report to the Members on the preparation of the unaudited statutory accounts of T&K Accountancy LLP for the year ended 31 March 2023


As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
T&K Accounting Group
69 Banstead Road
Carshalton
SM5 3NP
30 January 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 185,464    151,026 
Tangible fixed assets 4 1,820    1,704 
187,284    152,730 
Current assets      
Debtors: amounts falling due within one year 76,382    65,510 
Cash at bank and in hand 29,830    12,100 
106,212    77,610 
Creditors: amount falling due within one year (206,812)   (163,924)
Net current assets (100,600)   (86,314)
 
Total assets less current liabilities 86,684    66,416 
Net assets 86,684    66,416 
 

Represented by:
Loans and other debts due to members 5 47,283    8,954 
Members' other interest
Members' capital 35,945    35,945 
Other reserves 3,456    21,517 
39,401    57,462 

86,684    66,416 
 

Total members' interests
Loans and other debts due to members 47,283    8,954 
Members' other interests 39,401    57,462 
86,684    66,416 
 


For the year ending 31 March 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006.


The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs).

These accounts were approved by the members and signed on their behalf by:


.............................................................................
Vidhyashankar Shanmugasarma
Designated Member
Date approved by the members: 30 January 2024
2
General Information
T&K Accountancy LLP is a limited liability partnership, registered in England & Northern Ireland, registration number OC329948, registration address 69 Banstead Road, Carshalton, Surrey, SM5 3NP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25 Reducing Balance
Computer Equipment 20 Straight Line
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 232,500    232,500 
Additions 71,250    71,250 
Disposals  
At 31 March 2023 303,750    303,750 
Amortisation
At 01 April 2022 81,474    81,474 
Charge for year 36,812    36,812 
On disposals  
At 31 March 2023 118,286    118,286 
Net book values
At 31 March 2023 185,464    185,464 
At 31 March 2022 151,026    151,026 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022 7,925    24,985    32,910 
Additions   1,091    1,091 
Disposals    
At 31 March 2023 7,925    26,076    34,001 
Depreciation
At 01 April 2022 7,607    23,600    31,207 
Charge for year 100    874    974 
On disposals    
At 31 March 2023 7,707    24,474    32,181 
Net book values
Closing balance as at 31 March 2023 218    1,602    1,820 
Opening balance as at 01 April 2022 319    1,385    1,704 


5.

Members' Interests

Members' capital   Other reserves   Total   Loans and other debts due to members less any amounts due from members included in debtors   Total
Balance at 01 April 2022 35,945      35,945    30,281    66,226 
Profit for the period available for discretionary division among members   3,456    3,456      3,456 
Members' interests after profit for the period 35,945    3,456    39,401    30,281    69,682 
Drawings       17,002    17,002 
Balance at 31 March 2023 35,945    3,456    39,401    47,283    86,684 
 



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