REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
MJK & TCK Investments LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
MJK & TCK Investments LLP |
MJK & TCK Investments LLP (Registered number: OC325435) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
MJK & TCK Investments LLP |
General Information |
for the Year Ended 30 April 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
MJK & TCK Investments LLP (Registered number: OC325435) |
Report of the Members |
for the Year Ended 30 April 2024 |
The members present their report with the financial statements of the LLP for the year ended 30 April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of software development and investment property ownership. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £19,618 (2023 - £1,565,700 profit). |
MEMBERS' INTERESTS |
The members participate fully in the LLP's profit, share the risks and subscribe the LLP's capital. |
An individual member's capital requirement is linked to their share of the profit and the financing requirement of the business. Capital introduced by new members and capital repaid to retiring members is done at par and subject to the agreement of the LLP. |
The drawings policy of the LLP allows each member to draw in advance a proportion of their annual profit share, subject to the cash requirements of the business and the agreement of the other members. Undrawn profits at the end of the year may be transferred to equity at the option of the member or drawn in subsequent periods subject to the cash requirements of the business and the agreement of the other members. |
Any transfers of members' interests from equity to debt (and vice versa) is done at par. A company member is not permitted to transfer equity to debt or receive capital repayment whilst a member of the LLP. |
ON BEHALF OF THE MEMBERS: |
MJK & TCK Investments LLP (Registered number: OC325435) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,276,241 |
2,202,507 |
MJK & TCK Investments LLP (Registered number: OC325435) |
Balance Sheet - continued |
30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,503,560 | 2,429,826 |
Other reserves | ( |
) | ( |
) |
1,276,241 | 2,202,507 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 1,276,241 | 2,202,507 |
Amounts due from members | 6 | (1,294,894 | ) | (866,987 | ) |
(18,653 | ) | 1,335,520 |
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 were approved by the members of the LLP and authorised for issue on |
MJK & TCK Investments LLP (Registered number: OC325435) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
MJK & TCK Investments 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 |
The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated. |
Going concern |
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
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 |
Plant and machinery etc | - |
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. |
MJK & TCK Investments LLP (Registered number: OC325435) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss. |
Impairment of assets |
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
Debtors and creditors receivable/payable in one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
Provision for liabilities |
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
MJK & TCK Investments LLP (Registered number: OC325435) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Listed investments | 5,925 | 5,474 |
MJK & TCK Investments LLP (Registered number: OC325435) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CONTROLLING PARTY |
The controlling party is M J Kempster. |