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REGISTERED NUMBER: OC440115 (England and Wales)










Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Morton Kathrens LLP

Morton Kathrens LLP (Registered number: OC440115)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morton Kathrens LLP

General Information
for the Year Ended 5 April 2024







DESIGNATED MEMBERS: M Kathrens
B Kathrens
MBK Property Ltd





REGISTERED OFFICE: Oaklea House
46 Coatham Road
Redcar
TS10 1RS





REGISTERED NUMBER: OC440115 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Morton Kathrens LLP (Registered number: OC440115)

Balance Sheet
5 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,098,672 723,000

CURRENT ASSETS
Debtors 5 12,421 39,441

CREDITORS
Amounts falling due within one year 6 (47,427 ) (48,466 )
NET CURRENT LIABILITIES (35,006 ) (9,025 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,063,666

713,975

CREDITORS
Amounts falling due after more than one year 7 (604,553 ) (311,353 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

459,113

402,622

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

459,113

402,622

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 459,113 402,622
Amounts due from members 5 (8,286 ) (19,761 )
450,827 382,861

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.

Morton Kathrens LLP (Registered number: OC440115)

Balance Sheet - continued
5 April 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 3 November 2024 and were signed by:





B Kathrens - Designated member

Morton Kathrens LLP (Registered number: OC440115)

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

1. STATUTORY INFORMATION

Morton Kathrens 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 as modified by the revaluation of certain assets.

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

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.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023 723,000
Additions 372,921
Revaluations 2,751
At 5 April 2024 1,098,672
NET BOOK VALUE
At 5 April 2024 1,098,672
At 5 April 2023 723,000

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.

Morton Kathrens LLP (Registered number: OC440115)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts due from members 8,286 19,761
Other debtors 4,135 19,680
12,421 39,441

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 46,000
Other creditors 6,059 1,200
Accrued expenses 1,368 1,266
47,427 48,466

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Mortgages 604,553 311,353

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 604,553 311,353

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 459,113 402,622

Falling due within one year 459,113 402,622

Members rank ahead of other creditors in a liquidation.