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REGISTERED NUMBER: OC445058 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

K&N (Ashford) LLP

K&N (Ashford) LLP (Registered number: OC445058)

Contents of the Financial Statements
for the Year Ended 31 March 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K&N (Ashford) LLP

General Information
for the Year Ended 31 March 2025







DESIGNATED MEMBERS: K G Lawrence
Mrs N L Lawrence





REGISTERED OFFICE: Unit 12a
Heron Business Centre
Henwood Industrial Estate
Ashford
Kent
TN24 8DH





REGISTERED NUMBER: OC445058 (England and Wales)





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

K&N (Ashford) LLP (Registered number: OC445058)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 744,000 840,000
Tangible assets 5 863,608 693,885
Investments 6 - 1,233,871
1,607,608 2,767,756

CURRENT ASSETS
Cash at bank 2,698 1,519

CREDITORS
Amounts falling due within one year 7 2,500 2,500
NET CURRENT ASSETS/(LIABILITIES) 198 (981 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,607,806

2,766,775

K&N (Ashford) LLP (Registered number: OC445058)

Balance Sheet - continued
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

144,595

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,764,307 2,886,234
Other reserves (301,096 ) (119,459 )
1,607,806 2,766,775

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 144,595 -
Members' other interests 1,463,211 2,766,775
1,607,806 2,766,775

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 2025.

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 14 May 2025 and were signed by:





K G Lawrence - Designated member

K&N (Ashford) LLP (Registered number: OC445058)

Notes to the Financial Statements
for the Year Ended 31 March 2025


1. STATUTORY INFORMATION

K&N (Ashford) 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.

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.

Intangible assets
Intellectual property is being amortised over its useful economic life of 10 years.

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 - 25% on reducing balance

Depreciation of £nil has been charged on the freehold properties held by the LLP as the members consider that the net realisable value of these assets is in excess of cost.

K&N (Ashford) LLP (Registered number: OC445058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

Investments
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.

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.

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 (2024 - NIL).

K&N (Ashford) LLP (Registered number: OC445058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2024
and 31 March 2025 960,000
AMORTISATION
At 1 April 2024 120,000
Charge for year 96,000
At 31 March 2025 216,000
NET BOOK VALUE
At 31 March 2025 744,000
At 31 March 2024 840,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2024 660,000 39,798 699,798
Additions - 249,950 249,950
Disposals - (23,653 ) (23,653 )
At 31 March 2025 660,000 266,095 926,095
DEPRECIATION
At 1 April 2024 - 5,913 5,913
Charge for year - 66,922 66,922
Eliminated on disposal - (10,348 ) (10,348 )
At 31 March 2025 - 62,487 62,487
NET BOOK VALUE
At 31 March 2025 660,000 203,608 863,608
At 31 March 2024 660,000 33,885 693,885

K&N (Ashford) LLP (Registered number: OC445058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2024 1,233,871
Disposals (1,233,871 )
At 31 March 2025 -
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 1,233,871

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Other creditors 2,500 2,500

8. RELATED PARTY DISCLOSURES

During the period under review, licence fees of £80,000 (2024: £80,000) was charged to a company connected with key management personnel.