Registered number
OC392856
Kingsbury Ellis LLP
Filleted Accounts
31 March 2025
Kingsbury Ellis LLP
Registered number: OC392856
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,023 1,628
Current assets
Debtors 4 42,255 52,584
Cash at bank and in hand 76,250 109,256
118,505 161,840
Creditors: amounts falling due within one year 5 (38,606) (35,059)
Net current assets 79,899 126,781
Total assets less current liabilities 80,922 128,409
Net assets attributable to members 80,922 128,409
Represented by:
Loans and other debts due to members 6 10 10
Members' other interests
Members' capital classified as equity (2,227,098) (1,959,398)
Other reserves 2,308,010 2,087,797
80,912 128,399
80,922 128,409
Total members' interests
Loans and other debts due to members 6 10 10
Members' other interests 80,912 128,399
80,922 128,409
For the period ended 31 March 2025 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 8 April 2025 and signed on their behalf by:
A C Anastasiou
Designated member
Kingsbury Ellis LLP
Notes to the Accounts
for the period from 1 May 2024 to 31 March 2025
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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line method
Fixtures & fittings and equipment 20% straight line method
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the LLP 4 4
3 Tangible fixed assets
Plant and machinery etc Fixtures & fittings and equipment Total
£ £ £
Cost
At 1 May 2024 13,358 4,982 18,340
At 31 March 2025 13,358 4,982 18,340
Depreciation
At 1 May 2024 11,730 4,982 16,712
Charge for the period 605 - 605
At 31 March 2025 12,335 4,982 17,317
Net book value
At 31 March 2025 1,023 - 1,023
At 30 April 2024 1,628 - 1,628
4 Debtors 2025 2024
£ £
Trade debtors 32,375 37,651
Other debtors 9,880 14,933
42,255 52,584
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 13,866 2,758
Other taxes and social security costs 20,202 27,937
Other creditors 4,538 4,364
38,606 35,059
6 Loans and other debts due to members 2025 2024
£ £
Loans from members 10 10
Amounts falling due within one year 10 10
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 19,714 40,306
8 Other information
Kingsbury Ellis LLP is a limited liability partnership incorporated in England. Its registered office is:
307 Neasden Lane
London
NW10 1QR
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