Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-05The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-06falseNo description of principal activity22falsetruefalse OC337212 2023-04-06 2024-04-05 OC337212 2022-04-06 2023-04-05 OC337212 2024-04-05 OC337212 2023-04-05 OC337212 c:Buildings 2023-04-06 2024-04-05 OC337212 c:Buildings 2024-04-05 OC337212 c:Buildings 2023-04-05 OC337212 c:Buildings c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC337212 c:Buildings c:ShortLeaseholdAssets 2023-04-06 2024-04-05 OC337212 c:PlantMachinery 2023-04-06 2024-04-05 OC337212 c:PlantMachinery 2024-04-05 OC337212 c:PlantMachinery 2023-04-05 OC337212 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC337212 c:MotorVehicles 2023-04-06 2024-04-05 OC337212 c:MotorVehicles 2024-04-05 OC337212 c:MotorVehicles 2023-04-05 OC337212 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC337212 c:FurnitureFittings 2023-04-06 2024-04-05 OC337212 c:FurnitureFittings 2024-04-05 OC337212 c:FurnitureFittings 2023-04-05 OC337212 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC337212 c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC337212 c:CurrentFinancialInstruments 2024-04-05 OC337212 c:CurrentFinancialInstruments 2023-04-05 OC337212 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-05 OC337212 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC337212 d:FRS102 2023-04-06 2024-04-05 OC337212 d:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC337212 d:FullAccounts 2023-04-06 2024-04-05 OC337212 d:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC337212 2 2023-04-06 2024-04-05 OC337212 d:PartnerLLP1 2023-04-06 2024-04-05 OC337212 d:PartnerLLP2 2023-04-06 2024-04-05 OC337212 d:PartnerLLP3 2023-04-06 2024-04-05 OC337212 c:FurtherSpecificReserve3ComponentTotalEquity 2024-04-05 OC337212 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-05 OC337212 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure
Company registration number: OC337212







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2024


KEN FREIVOKH DESIGN LLP






































                       

 


KEN FREIVOKH DESIGN LLP
 



INFORMATION




Designated Members

K L Freivokh
E A Windsor

LLP registered number

OC337212

Registered office

Eastlands Boatyard Coal Park LaneSwanwickSouthamptonHampshireSO31 7GW

Accountants

Menzies LLP3000a ParkwayWhiteleyHampshirePO15 7FX


 


KEN FREIVOKH DESIGN LLP
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9


 


KEN FREIVOKH DESIGN LLP
REGISTERED NUMBER:OC337212



STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
165,952
195,797

  
165,952
195,797

Current assets
  

Stocks
  
54,230
56,900

Debtors: amounts falling due within one year
 5 
208,137
177,674

Cash at bank and in hand
  
237,805
25,339

  
500,172
259,913

Creditors: Amounts Falling Due Within One Year
 6 
(255,910)
(222,475)

Net current assets
  
 
 
244,262
 
 
37,438

Total assets less current liabilities
  
410,214
233,235

  

Net assets
  
410,214
233,235

Page 1

 


KEN FREIVOKH DESIGN LLP
REGISTERED NUMBER:OC337212


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
410,214
233,235

  
410,214
233,235

  

  
410,214
233,235


Total members' interests
  

Loans and other debts due to members
 7 
410,214
233,235

  
410,214
233,235


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

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




K L Freivokh
E A Windsor
Designated member
Designated member


Date: 3 January 2025
Date:3 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Ken Freivokh Design LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Ken Freivokh Design 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

  
2.5

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members'
agreement (for example, in respects of amounts subscribed or otherwise contributed, remuneration and
profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from
the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the
Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation
right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as
equity if the LLP has an unconditional right to refuse payment to members. if the LLP does not have such an
unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of comprehensive income in the relvant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are shown as a residual amount available for the discretionary division amoung members of the Statement of comprehensive income and are equity appropriations in the Statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charges to the Statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement on financial position within 'Members' other interests'.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Farm buildings
-
10%
on cost
Short-term leasehold property
-
over the term of the lease
Plant and machinery
-
25%
on reducing balance
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
25%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Biological assets contained within stocks are initially recognised at fair value less the costs to sell.
At each reporting date these assets are measured at fair value less costs to sell, with changes in value regognised in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

Page 6

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 6 April 2023
214,283
93,005
211,998
14,340
533,626


Additions
5,891
588
-
2,638
9,117



At 5 April 2024

220,174
93,593
211,998
16,978
542,743



Depreciation


At 6 April 2023
130,767
76,789
126,019
4,254
337,829


Charge for the year on owned assets
10,085
4,201
21,495
3,181
38,962



At 5 April 2024

140,852
80,990
147,514
7,435
376,791



Net book value



At 5 April 2024
79,322
12,603
64,484
9,543
165,952



At 5 April 2023
83,515
16,217
85,979
10,086
195,797

Page 8

 


KEN FREIVOKH DESIGN LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
7
177,675

Other debtors
15,641
-

Prepayments and accrued income
192,489
-

208,137
177,675



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
34,919
15,073

Other taxation and social security
-
16,512

Other creditors
30,000
31,890

Accruals and deferred income
190,991
159,000

255,910
222,475



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
410,214
233,235

410,214
233,235

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
410,214
233,235

410,214
233,235

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

 
Page 9