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REGISTERED NUMBER: OC403555 (England and Wales)















Unaudited Financial Statements for the Year Ended 2 April 2024

for

KIN LONDON LLP

KIN LONDON LLP (REGISTERED NUMBER: OC403555)






Contents of the Financial Statements
for the Year Ended 2 April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KIN LONDON LLP

General Information
for the Year Ended 2 April 2024







DESIGNATED MEMBERS: S M Mitchell
C Mitchell





REGISTERED OFFICE: 52-60 Tabernacle Street
London
EC2A 4NJ





REGISTERED NUMBER: OC403555 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Balance Sheet
2 April 2024

2.4.24 2.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,682 20,961

CURRENT ASSETS
Debtors 5 922,638 873,671
Cash at bank and in hand 572,259 132,204
1,494,897 1,005,875
CREDITORS
Amounts falling due within one year 6 (1,250,678 ) (995,902 )
NET CURRENT ASSETS 244,219 9,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,901

30,934

CREDITORS
Amounts falling due after more than one
year

7

(11,667

)

(30,934

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

251,234

-

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

251,234

-

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 251,234 -
Amounts due from members 5 - (8,392 )
251,234 (8,392 )

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 2 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.

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Balance Sheet - continued
2 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 15 January 2025 and were signed by:





S M Mitchell - Designated member

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Notes to the Financial Statements
for the Year Ended 2 April 2024

1. STATUTORY INFORMATION

Kin London 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.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements,estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost
Motor vehicle - 25% on reducing balance

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Notes to the Financial Statements - continued
for the Year Ended 2 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company 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 debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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 6 (2023 - 5 ) .

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Notes to the Financial Statements - continued
for the Year Ended 2 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 3 April 2023 1,292 16,384 21,958 39,634
Additions - - 5,181 5,181
At 2 April 2024 1,292 16,384 27,139 44,815
DEPRECIATION
At 3 April 2023 340 4,352 13,981 18,673
Charge for year 426 3,008 4,026 7,460
At 2 April 2024 766 7,360 18,007 26,133
NET BOOK VALUE
At 2 April 2024 526 9,024 9,132 18,682
At 2 April 2023 952 12,032 7,977 20,961

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2.4.24 2.4.23
£    £   
Trade debtors 260,231 520,623
Other debtors 662,407 353,048
922,638 873,671

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2.4.24 2.4.23
£    £   
Bank loans and overdrafts 10,000 10,700
Hire purchase contracts 11,446 2,355
Trade creditors 296,469 182,347
Taxation and social security 102,583 114,956
Other creditors 830,180 685,544
1,250,678 995,902

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2.4.24 2.4.23
£    £   
Bank loans 11,667 20,946
Hire purchase contracts - 9,988
11,667 30,934

KIN LONDON LLP (REGISTERED NUMBER: OC403555)

Notes to the Financial Statements - continued
for the Year Ended 2 April 2024

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2.4.24 2.4.23
£    £   
Amounts owed to members in respect of profits 251,234 -

Falling due within one year 251,234 -

Loans and other debts due to members will rank ‘pari passu’ with other unsecured creditors of the LLP.