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REGISTERED NUMBER: OC418950 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Mak Invest LLP

Mak Invest LLP (Registered number: OC418950)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mak Invest LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Ms K Gledhill
M J Gledhill





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC418950 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Mak Invest LLP (Registered number: OC418950)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,820 21,121
Investment property 5 1,266,035 735,000
1,281,855 756,121

CURRENT ASSETS
Debtors 6 219,599 488,571
Cash at bank 31,140 132,702
250,739 621,273
CREDITORS
Amounts falling due within one year 7 146,628 3,168
NET CURRENT ASSETS 104,111 618,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,385,966

1,374,226

CREDITORS
Amounts falling due after more than one
year

8

258,079

261,338
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,127,887

1,112,888

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

10,208

7,278

MEMBERS' OTHER INTERESTS
Capital accounts 1,117,679 1,105,610
1,127,887 1,112,888

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 10,208 7,278
Members' other interests 1,117,679 1,105,610
Amounts due from members 6 - (488,571 )
1,127,887 624,317

Mak Invest LLP (Registered number: OC418950)

Balance Sheet - continued
31 March 2024


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 31 March 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.

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 19 March 2025 and were signed by:





M J Gledhill - Designated member

Mak Invest LLP (Registered number: OC418950)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Mak Invest 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 as modified by the revaluation of certain assets.

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 rents received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income is recognised on an accruals basis in accordance with the substance of the relevant agreement.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

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.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Mak Invest LLP (Registered number: OC418950)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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 LLP 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.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 42,172
DEPRECIATION
At 1 April 2023 21,051
Charge for year 5,301
At 31 March 2024 26,352
NET BOOK VALUE
At 31 March 2024 15,820
At 31 March 2023 21,121

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 735,000
Additions 491,035
Revaluations 40,000
At 31 March 2024 1,266,035
NET BOOK VALUE
At 31 March 2024 1,266,035
At 31 March 2023 735,000

Mak Invest LLP (Registered number: OC418950)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. INVESTMENT PROPERTY - continued

Investment properties have been valued by the members and estate agents, and are disclosed at their open market value.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 20,000
Valuation in 2023 65,000
Valuation in 2024 40,000
Cost 1,141,035
1,266,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 219,599 488,571

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,228 3,168
Other creditors 143,400 -
146,628 3,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 258,079 261,338

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 153,104 153,106

Repayable by instalments
Bank loans more 5 yr by instal 89,975 94,482

Mak Invest LLP (Registered number: OC418950)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 261,307 264,506

Bank loans are secured by way of a first charge over the investment properties.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors.