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REGISTERED NUMBER: OC434211 (England and Wales)






















Report of the Members and

Unaudited Financial Statements

for the Year Ended 30 November 2023

for

KC Aviation LLP

KC Aviation LLP (Registered number: OC434211)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


KC Aviation LLP

General Information
for the year ended 30 November 2023







DESIGNATED MEMBERS: B McNicholas
Mrs K McNicholas





REGISTERED OFFICE: St. George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE





REGISTERED NUMBER: OC434211 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

KC Aviation LLP (Registered number: OC434211)

Report of the Members
for the year ended 30 November 2023

The members present their report with the financial statements of the LLP for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the hire of helicopters.

DESIGNATED MEMBERS
The designated members during the year under review were:

B McNicholas
Mrs K McNicholas

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £115,310 (2022 - £122,401 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





B McNicholas - Designated member


12 September 2024

KC Aviation LLP (Registered number: OC434211)

Income Statement
for the year ended 30 November 2023

2023 2022
Notes £ £

TURNOVER 33,119 1,875

Cost of sales (23,648 ) (10,565 )
GROSS PROFIT/(LOSS) 9,471 (8,690 )

Administrative expenses (124,781 ) (113,711 )
OPERATING LOSS and
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


(115,310


)


(122,401


)

LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


(115,310


)


(122,401


)

Members' remuneration charged as an expense 5 115,310 122,401
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


-


-

KC Aviation LLP (Registered number: OC434211)

Balance Sheet
30 November 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 6 639,021 711,042

CURRENT ASSETS
Debtors 7 335,792 219,342
Cash at bank 21,170 2,306
356,962 221,648
CREDITORS
Amounts falling due within one year 8 (4,244 ) (951 )
NET CURRENT ASSETS 352,718 220,697
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

991,739

931,739

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 991,739 931,739
991,739 931,739

TOTAL MEMBERS' INTERESTS
Members' other interests 991,739 931,739
Amounts due from members 7 (327,962 ) (212,652 )
663,777 719,087

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 30 November 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 12 September 2024 and were signed by:





B McNicholas - Designated member

KC Aviation LLP (Registered number: OC434211)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

KC Aviation 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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

All fixed assets are stated at cost less accumulated depreciation.

Depreciation on all assets is calculated to allocate the depreciable amount to their residual values over their estimated useful
lives as follows:

Office Equipment - 25% Reducing balance
Helicopter - 8.33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Taxation
The taxation payable on the profits of the limited liability partnership is the personal liability of the members.
No provision is therefore made in the financial statements for members tax liabilities.

Members profit shares
Profits are automatically divided between the members at the end of the financial year in accordance with agreed profit sharing arrangements. Allocated profits are shown as members remuneration charged as an expense in the profit and loss account and are included within loans and other debts due to members in the balance sheet.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£ £
Depreciation - owned assets 72,021 72,575

5. INFORMATION IN RELATION TO MEMBERS
2023 2022
£ £
Members' remuneration charged as an expense
Automatic division of loss (115,310 ) (122,401 )

KC Aviation LLP (Registered number: OC434211)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 December 2022
and 30 November 2023 855,230
DEPRECIATION
At 1 December 2022 144,188
Charge for year 72,021
At 30 November 2023 216,209
NET BOOK VALUE
At 30 November 2023 639,021
At 30 November 2022 711,042

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 630 2,250
Other debtors 335,162 217,092
335,792 219,342

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 2,391 1
Taxation and social security 953 -
Other creditors 900 950
4,244 951