Limited Liability Partnership Registration No. OC445187 (England and Wales)
KLEKIO LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
KLEKIO LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr F Garcia Culubret
Ms D Berthier Venturiello
Limited liability partnership number
OC445187
Registered office
c/o Preiskel & Co LLP
4 King's Bench Walk
Temple
London
EC4Y 7DL
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
KLEKIO LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
KLEKIO LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KLEKIO LLP FOR THE PERIOD ENDED 31 DECEMBER 2023
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Klekio LLP for the period ended 31 December 2023 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.
This report is made solely to the limited liability partnership's members of Klekio LLP, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Klekio LLP and state those matters that we have agreed to state to the limited liability partnership's members of Klekio LLP, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Klekio LLP and its members as a body, for our work or for this report.
It is your duty to ensure that Klekio LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Klekio LLP. You consider that Klekio LLP is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Klekio 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 statutory financial statements.
Kirk Rice LLP
24 September 2024
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
KLEKIO LLP
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
Notes
$
$
Fixed assets
Investments
4
1
Current assets
Debtors
5
24,711
Cash at bank and in hand
743
25,454
Creditors: amounts falling due within one year
Other creditors
6
26,072
Net current liabilities
(618)
Total assets less current liabilities and net liabilities attributable to members
(617)
Represented by:
Members' other interests
Other reserves classified as equity
(617)
(617)
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial period ended 31 December 2023 the limited liability partnership 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) relating to small limited liability partnerships, and, in accordance with section 476 of the Companies Act 2006, the members have not required the company to obtain an audit of its financial statements.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 23 September 2024 and are signed on their behalf by:
Mr F Garcia Culubret
Designated member
Limited Liability Partnership registration number OC445187 (England and Wales)
KLEKIO LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Limited liability partnership information
Klekio LLP is a limited liability partnership incorporated in England and Wales. The registered office is c/o Preiskel & Co LLP, 4 King's Bench Walk, Temple, London, EC4Y 7DL.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Reporting period
The entity was incorporated on 28 December 2022 and the members decided the LLP should have a December year end, therefore the period of these financial statements exceeds one year.
1.2
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in US dollars, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest $.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover comprises the fair value of the consideration received for the provision of international online payment services. The partnership recognises revenue when the amount of the revenue can be reliably measured.
1.4
Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.
Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.
KLEKIO LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the limited liability partnership. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
Basic financial assets
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Basic financial liabilities
Creditors are not interest bearing and are included at their nominal value.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
KLEKIO LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
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3
Employees
The average number of persons (excluding members) employed by the partnership during the period was:
2023
Number
Total
4
Fixed asset investments
2023
$
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
$
Cost or valuation
At 28 December 2022
-
Additions
1
At 31 December 2023
1
Carrying amount
At 31 December 2023
1
5
Debtors
2023
Amounts falling due within one year:
$
Trade debtors
24,711
6
Other creditors falling due within one year
2023
$
Other creditors
24,272
7
Loans and other debts due to members
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.