REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
KC Aviation LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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: |
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: |
KC Aviation LLP (Registered number: OC434211) |
Income Statement |
for the year ended 30 November 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT/(LOSS) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
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 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
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 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |