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Registered number: OC394865
Kay Johnson Gee (1948) LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
LLP Information 1
Accountant's Report 2
Balance Sheet 3
Notes to the Financial Statements 4
Page 1
LLP Information
Designated Members Mr J L Beressi
Mr R W Blaskey
LLP Registration Number OC394865
Registered Office 1 City Road East
Manchester
M15 4PN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Accountant's Report
Chartered Accountant's report to the partners on the preparation of the unaudited statutory accounts of Kay Johnson Gee (1948) LLP For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, I have prepared for your approval the accounts of Kay Johnson Gee (1948) LLP For The Year Ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the partners of Kay Johnson Gee (1948) LLP, as a body, in accordance with the terms of our engagement letter dated 05 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of Kay Johnson Gee (1948) LLP and state those matters that we have agreed to state to the partners of Kay Johnson Gee (1948) LLP, as a body, in this report in accordance with AAF 2/10 as detailed at ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kay Johnson Gee (1948) LLP and its partners, as a body, for our work or for this report.
It is your duty to ensure that Kay Johnson Gee (1948) LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Kay Johnson Gee (1948) LLP. You consider that Kay Johnson Gee (1948) LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Kay Johnson Gee (1948) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
9 September 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: OC394865
2024 2023
Notes £ £ £ £
FIXED ASSETS
NET ASSETS ATTRIBUTABLE TO MEMBERS - -
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 177 177
177 177
Equity
Members' other interests
Other reserves (177) (177)
(177) (177)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 177 177
Members' other interests (177) (177)
For the year ending 31 March 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 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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr J L Beressi
Designated Member
9 September 2024
The notes on page 4 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Kay Johnson Gee (1948) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC394865 . The Registered Office is 1 City Road East, Manchester, M15 4PN.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account in full immediately.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: 2)
- 2
6. Related Party Transactions
The total amount owed to the LLP by its members at the year end was £Nil (2023: £Nil).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
7. Break-Up Basis
The members wish to prepare the financial statements on the break-up basis as they are to cease their major operations. The going concern basis is therefore not appropriate.
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