0 false false false false false false false true false false false false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares OC442579 2023-05-01 2024-04-30 OC442579 2024-04-30 OC442579 2023-04-30 OC442579 bus:Director1 2023-05-01 2024-04-30 OC442579 bus:SmallEntities 2023-05-01 2024-04-30 OC442579 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC442579 bus:EntityHasNeverTraded 2023-05-01 2024-04-30 OC442579 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC442579 bus:AbridgedAccounts 2023-05-01 2024-04-30
REGISTERED NUMBER: OC442579
GMK Energy LLP
Unaudited Abridged Financial Statements
30 April 2024
GMK Energy LLP
Abridged Statement of Financial Position
30 April 2024
2024
Note
£
Represented by:
Loans and other debts due to members
Other amounts
----
Members' other interests
Other reserves
----
----
Total members' interests
Loans and other debts due to members
Members' other interests
----
----
These abridged financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The LLP did not trade during the current year or prior period and has not made either a profit or loss.
For the year ending 30th April 2024 the LLP was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to dormant LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
These abridged financial statements were approved by the members and authorised for issue on 24 January 2025 , and are signed on their behalf by:
Mr. S Ilikcan
Designated Member
Registered number: OC442579
GMK Energy LLP
Notes to the Abridged Financial Statements
Year ended 30th April 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 3rd Floor 1 Ashley Road, Altrincham, Chesire, WA14 2DT, United Kingdom.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A 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' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The LLP is dormant as defined by section 1169 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 LLP received no income and incurred no expenditure during the current year or prior period and therefore no income statement is presented within these abridged financial statements. There have been no movements in members funds during the current year or prior year.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect 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 abridged statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the abridged 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 therefore shown as a residual amount available for discretionary division among members in the abridged statement of comprehensive income and are equity appropriations in the abridged 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 the 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 abridged statement of financial position within 'Loans and other debts due to members' and are charged to the abridged statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the abridged statement of financial position within 'Members' other interests'.