REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
FOR |
KDLC LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
FOR |
KDLC LLP |
KDLC LLP (REGISTERED NUMBER: OC433401) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
KDLC LLP |
GENERAL INFORMATION |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
869 High Road |
London |
N12 8QA |
KDLC LLP (REGISTERED NUMBER: OC433401) |
STATEMENT OF FINANCIAL POSITION |
1 SEPTEMBER 2023 |
2023 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,063 | 15,180,547 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
172,496 |
5,878,335 |
MEMBERS' OTHER INTERESTS |
Capital accounts | - | 3,618,658 |
Revaluation reserve | 11 | - | 5,683,554 |
Other reserves | 11 | (171,433 | ) | - |
1,063 | 15,180,547 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 172,496 | 5,878,335 |
Members' other interests | (171,433 | ) | 9,302,212 |
1,063 | 15,180,547 |
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. |
KDLC LLP (REGISTERED NUMBER: OC433401) |
STATEMENT OF FINANCIAL POSITION - continued |
1 SEPTEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
KDLC LLP (REGISTERED NUMBER: OC433401) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
KDLC LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net rent receivable. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The members consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL (2023 - |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 1 September 2023 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 1 September 2023 |
NET BOOK VALUE |
At 1 September 2023 |
At 31 March 2023 |
KDLC LLP (REGISTERED NUMBER: OC433401) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 1 September 2023 |
NET BOOK VALUE |
At 1 September 2023 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2023 |
£ | £ |
Bank loans |
The loan is secured by way of fixed and floating legal charge on the investment properties of the LLP. |
KDLC LLP (REGISTERED NUMBER: OC433401) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 1 SEPTEMBER 2023 |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2023 |
£ | £ |
Loans from members | - | 828,790 |
Amounts owed to members in respect of profits | 172,496 | 5,049,545 |
172,496 | 5,878,335 |
Falling due within one year | 172,496 | 5,878,335 |
Loans and other debts due to members rank equally with other creditors on a winding up. |
11. | RESERVES |
Revaluation | Other |
reserve | reserves | Totals |
£ | £ | £ |
At 1 April 2023 | 5,683,554 | - | 5,683,554 |
Undivided profit | - | (171,433 | ) | (171,433 | ) |
Reversal of revaluation |
reserve | (5,683,554 | ) | - | (5,683,554 | ) |
At 1 September 2023 | - | (171,433 | ) | (171,433 | ) |