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REGISTERED NUMBER: OC433401 (England and Wales)










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: Mr K L Kakalov
Mrs L Kakalova





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: OC433401 (England and Wales)





ACCOUNTANTS: EA
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 - 129,284
Investment property 5 - 23,425,000
- 23,554,284

CURRENT ASSETS
Debtors 6 - 32,087
Cash at bank 1,063 721
1,063 32,808
CREDITORS
Amounts falling due within one year 7 - 112,454
NET CURRENT ASSETS/(LIABILITIES) 1,063 (79,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,063

23,474,638

CREDITORS
Amounts falling due after more than one year 8 - 8,294,091
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 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 period ended 1 September 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.

KDLC LLP (REGISTERED NUMBER: OC433401)

STATEMENT OF FINANCIAL POSITION - continued
1 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 23 September 2024 and were signed by:





Mr K L Kakalov - Designated member

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
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 rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33.33% on reducing balance
Motor vehicles - 20% on reducing balance

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 - 1 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 4,450 4,000 124,606 133,056
Disposals (4,450 ) (4,000 ) (124,606 ) (133,056 )
At 1 September 2023 - - - -
DEPRECIATION
At 1 April 2023 2,452 1,320 - 3,772
Charge for period 275 368 10,384 11,027
Eliminated on disposal (2,727 ) (1,688 ) (10,384 ) (14,799 )
At 1 September 2023 - - - -
NET BOOK VALUE
At 1 September 2023 - - - -
At 31 March 2023 1,998 2,680 124,606 129,284

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 23,425,000
Disposals (23,425,000 )
At 1 September 2023 -
NET BOOK VALUE
At 1 September 2023 -
At 31 March 2023 23,425,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Other debtors - 32,087

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Hire purchase contracts - 13,055
Trade creditors - 22,352
Other creditors - 77,047
- 112,454

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans - 8,202,000
Hire purchase contracts - 92,091
- 8,294,091

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Bank loans - 8,202,000

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 )