REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
FOR |
JTK CAPITAL LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
FOR |
JTK CAPITAL LLP |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JTK CAPITAL LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
495 Green Lanes |
London |
N13 4BS |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
BALANCE SHEET |
31ST OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,261,923 | 1,479,304 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
1,261,823 |
1,479,204 |
MEMBERS' OTHER INTERESTS |
Members' capital classified as |
equity |
1,261,923 | 1,479,304 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 1,261,823 | 1,479,204 |
Members' other interests | 100 | 100 |
1,261,923 | 1,479,304 |
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. |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
BALANCE SHEET - continued |
31ST OCTOBER 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 |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Jtk Capital 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 |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the LLP will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; |
and |
- the costs incurred and the costs to complete the contract can be measured reliably |
Division and distribution of profits |
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A |
division may be automatic or discretionary, may relate to some or all of the profits for a financial period and |
may take place during or after the end of a financial period. |
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a |
division of an amount of profits based on the members' agreement in force at the time, whereas a |
discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional |
right to avoid making. |
The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to |
members, although may be used to offset amounts which have been drawn by members, which are |
recognised as loan assets repayable. |
Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the |
Statement of financial position, pending a discretionary decision to divide the profits. |
Debtors |
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method, less any impairment. |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised |
cost using the effective interest method. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st November 2022 |
and 31st October 2023 |
NET BOOK VALUE |
At 31st October 2023 |
At 31st October 2022 |
5. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
JTK CAPITAL LLP (REGISTERED NUMBER: OC429111) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 1,261,823 | 1,479,204 |
Falling due within one year | 1,261,823 | 1,479,204 |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. |
8. | RELATED PARTY DISCLOSURES |
During the year the LLP earned £34,969 (2022: £78,000) of interest income from connected companies. |