Registered number
OC421477
K & R ESTATES (LONDON) LLP
Unaudited Filleted Accounts
31 March 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
K & R ESTATES (LONDON) LLP
Registered number: OC421477
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 2,613,000
Current assets
Cash at bank and in hand 217,422 19,309
Creditors: amounts falling due within one year 4 (1,795) (88,881)
Net current assets/(liabilities) 215,627 (69,572)
Total assets less current liabilities 215,627 2,543,428
Creditors: amounts falling due after more than one year 5 - (1,461,798)
Net assets attributable to members 215,627 1,081,630
Represented by:
Members' other interests
Members' capital classified as equity 100,773 361,002
Revaluation reserve - 612,010
Other reserves 114,854 108,618
215,627 1,081,630
215,627 1,081,630
Total members' interests
Members' other interests 215,627 1,081,630
215,627 1,081,630
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 27 January 2025 and signed on their behalf by:
Mr R V Raithatha
Designated member
K & R ESTATES (LONDON) LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes rental receivable from Investment properties during the year.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets consist of Investment Properties. Investment Properties are revalued at the year end by the members based on open market values.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 2 2
3 Tangible fixed assets
Land and buildings
£
Cost/ (Valuation) Valuation
At 1 April 2023 2,613,000
Disposals (2,613,000)
At 31 March 2024 -
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 -
At 31 March 2023 2,613,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 2,462,995
Cumulative depreciation based on historical cost - -
- 2,462,995
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,795 88,881
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan - 1,461,798
The bank loans were repaid during the period.
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 612,010 685,832
Loss on revaluation of land and buildings - (73,822)
Other movements (612,010) -
At 31 March 2024 - 612,010
7 Controlling party
There is no ultimate controlling party.
8 Other information
K & R ESTATES (LONDON) LLP is a limited liability partnership incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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