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REGISTERED NUMBER: OC355126 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

KOLA CAPITAL LLP

KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2023










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KOLA CAPITAL LLP

GENERAL INFORMATION
for the year ended 30 November 2023







DESIGNATED MEMBERS: A Motlokhov
Kola Capital Services Limited





REGISTERED OFFICE: 5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: OC355126 (England and Wales)






KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 6 214,092 213,643
Cash at bank 59,065 66,913
273,157 280,556
CREDITORS
Amounts falling due within one year 7 (199,670 ) (207,069 )
NET CURRENT ASSETS 73,487 73,487
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

73,487

73,487

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

73,487

73,487

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 73,487 73,487
Amounts due from members 6 (124,214 ) -
(50,727 ) 73,487

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 30 November 2023.

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.

KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

STATEMENT OF FINANCIAL POSITION - continued
30 November 2023


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 6 March 2025 and were signed by:





A Motlokhov - Designated member

KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2023


1. STATUTORY INFORMATION

Kola Capital LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Taxation
No provision has been made for taxation in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP. Tax is assessed on the individual member and not on the LLP.

Revenue recognition
Turnover comprises revenue recognised by the LLP in respect of management services supplied during the financial year in the ordinary course of business, exclusive of Value Added Tax and trade discounts.

Revenue is recognised when the contractual obligations to the client have been fully performed.

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

Depreciation is provided on all plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows;

Plant and equipment25% on cost

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

KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


3. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.

Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand.

Financial instruments
The LLP has adopted section 11 of FRS 102 in respect of its basic financial instruments.

Basic financial assets

Trade and other debtors, amounts due from members and group undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade and other creditors and amounts due to members are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Members' interests
Members' interests that are in substance liabilities of the LLP are shown as such in accordance with FRS 102.

KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 December 2022
and 30 November 2023 6,066
DEPRECIATION
At 1 December 2022
and 30 November 2023 6,066
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 114,500
Amounts owed by related undertakings 89,878 89,655
Amounts due from members 124,214 -
Other debtors - 9,488
214,092 213,643

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Loans 180,330 180,330
Trade creditors - 5,628
Other creditors 11,000 11,000
Accruals and deferred income 8,340 10,111
199,670 207,069

The other loan is unsecured, interest free, and repayable on demand

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in ''Loans and other debts due to members'' will rank equally with unsecured creditors.

9. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The controlling party is A Motlokhov.