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REGISTERED NUMBER: OC420277 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 5 April 2024

for

KEITH GIBBS LLP

KEITH GIBBS LLP (Registered number: OC420277)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 5


KEITH GIBBS LLP

General Information
for the Year Ended 5 April 2024







DESIGNATED MEMBERS: P C Shilling
Mrs J R Shilling
P R May





REGISTERED OFFICE: Providence House
Forest Road
BINFIELD
Berkshire
RG42 4HP





REGISTERED NUMBER: OC420277 (England and Wales)





ACCOUNTANTS: EDMONDS ACCOUNTANCY LIMITED
Unit 11, Diddenham Bus Park,
Diddenham Court
Grazeley,
READING
Berkshire
RG7 1JQ

KEITH GIBBS LLP (Registered number: OC420277)

Report of the Members
for the Year Ended 5 April 2024

The members present their report with the financial statements of the LLP for the year ended 5 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of estate agents.

DESIGNATED MEMBERS
The designated members during the year under review were:

P C Shilling
Mrs J R Shilling
P R May

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £125,399 (2023 - £119,198 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





P C Shilling - Designated member


30 October 2024

KEITH GIBBS LLP (Registered number: OC420277)

Income Statement
for the Year Ended 5 April 2024

5.4.24 5.4.23
Notes £    £   

TURNOVER 209,227 204,208

Administrative expenses 84,578 84,932
OPERATING PROFIT 4 124,649 119,276

Interest receivable and similar income 778 5
125,427 119,281

Interest payable and similar expenses 28 83
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




125,399




119,198

KEITH GIBBS LLP (Registered number: OC420277)

Statement of Financial Position
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 405 539

CURRENT ASSETS
Debtors 12,927 6,726
Cash at bank and in hand 13,922 20,853
26,849 27,579
CREDITORS
Amounts falling due within one year 6 10,409 12,004
NET CURRENT ASSETS 16,440 15,575
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

16,845

16,114

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

16,845

16,114

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 16,845 16,114
Amounts due from members (12,927 ) (6,726 )
3,918 9,388

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 5 April 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.

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

The financial statements were approved by the members of the LLP and authorised for issue on 30 October 2024 and were signed by:




P C Shilling - Designated member

KEITH GIBBS LLP (Registered number: OC420277)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

KEITH GIBBS 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

5.4.24 5.4.23
£    £   
Depreciation - owned assets 134 180

KEITH GIBBS LLP (Registered number: OC420277)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023
and 5 April 2024 1,851
DEPRECIATION
At 6 April 2023 1,312
Charge for year 134
At 5 April 2024 1,446
NET BOOK VALUE
At 5 April 2024 405
At 5 April 2023 539

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Taxation and social security 9,894 11,489
Other creditors 515 515
10,409 12,004

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
5.4.24 5.4.23
£    £   
Amounts owed to members in respect of profits 16,845 16,114

Falling due within one year 16,845 16,114

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.