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REGISTERED NUMBER: OC435643 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

Karibu Yacht LLP

Karibu Yacht LLP (Registered number: OC435643)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

General Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


Karibu Yacht LLP

General Information
for the Year Ended 29 February 2024







DESIGNATED MEMBERS: R J Cook
Mrs C M Cook





REGISTERED OFFICE: 12 Lyncroft Close
Old St Mellons
Cardiff
CF3 5PX





REGISTERED NUMBER: OC435643 (England and Wales)





ACCOUNTANTS: Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA

Karibu Yacht LLP

Report of the Accountants to the Members of
Karibu Yacht LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on page nil and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA


29 November 2024

Karibu Yacht LLP (Registered number: OC435643)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 2,915,147

CURRENT ASSETS
Cash at bank and in hand 32,573 52,838

CREDITORS
Amounts falling due within one year 5 (6,000 ) (12,748 )
NET CURRENT ASSETS 26,573 40,090
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 26,573 2,955,237

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

26,573

2,955,237

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 26,573 2,955,237

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 29 February 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 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 November 2024 and were signed by:





R J Cook - Designated member

Karibu Yacht LLP (Registered number: OC435643)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Karibu Yacht 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.

The financial statements are presented in Pounds Sterling.

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 - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost include the purchase cost and all other costs necessary to bring it to its present location and condition.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 3,313,417 215,412 25,080 3,553,909
Disposals (3,313,417 ) (215,412 ) (25,080 ) (3,553,909 )
At 29 February 2024 - - - -
DEPRECIATION
At 1 March 2023 573,727 54,807 10,228 638,762
Charge for year 160,239 53,853 8,352 222,444
Eliminated on disposal (733,966 ) (108,660 ) (18,580 ) (861,206 )
At 29 February 2024 - - - -
NET BOOK VALUE
At 29 February 2024 - - - -
At 28 February 2023 2,739,690 160,605 14,852 2,915,147

Karibu Yacht LLP (Registered number: OC435643)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

During the financial year, the LLP completed the sale of its yacht, including all integrated assets such as computer equipment, fixtures, and fittings. The sale was completed on 24 August 2023 with a profit on disposal of £563,911.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 705
Trade creditors - 7,043
Other creditors 6,000 5,000
6,000 12,748

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.
There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.