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REGISTERED NUMBER: OC437042 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WEST KENSINGTON PROPERTY MANAGEMENT LLP

WEST KENSINGTON PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC437042)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WEST KENSINGTON PROPERTY MANAGEMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: West Kensington Property Ltd
Mr S Hardas





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: OC437042 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Chartered Accountants & Tax Advisers
Unit 2.02 High Weald House
Glovers End, Bexhill,
East Sussex,
United Kingdom
TN39 5ES

WEST KENSINGTON PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC437042)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,500,000 3,500,000

CURRENT ASSETS
Cash at bank 11,228 16,231

CREDITORS
Amounts falling due within one year 5 2,443 1,993
NET CURRENT ASSETS 8,785 14,238
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,508,785

3,514,238

LOANS AND OTHER DEBTS DUE TO
MEMBERS

69,108

35,004

MEMBERS' OTHER INTERESTS
Capital accounts 3,502,091 3,500,000
Other reserves 6 (62,414 ) (20,766 )
3,508,785 3,514,238

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 69,108 35,004
Members' other interests 3,439,677 3,479,234
3,508,785 3,514,238

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 year ended 31 March 2024.

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.

WEST KENSINGTON PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC437042)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 29 October 2024 and were signed by:





Mr S Hardas - Designated member

WEST KENSINGTON PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC437042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the members are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

FINANCIAL INSTRUMENTS
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 3,500,000
Net book value
At 31 March 2024 3,500,000
At 31 March 2023 3,500,000

WEST KENSINGTON PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC437042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 1,050 -
Accrued expenses 1,393 1,993
2,443 1,993

6. RESERVES
Other
reserves
£   
At 1 April 2023 (20,766 )
Undivided profit (41,648 )
At 31 March 2024 (62,414 )