Registered No. OC435447 (England and Wales)
KA PARTNERSHIP LLP
Unaudited accounts
for the year ended 31 March 2025
KA PARTNERSHIP LLP
Statement of financial position
as at 31 March 2025
Investment property
-
2,584,000
Cash at bank and in hand
-
34,897
Net current assets
-
34,897
Total assets less current liabilities
-
2,619,167
Creditors: amounts falling due after more than one year
-
(1,240,500)
Net assets attributable to members
-
1,378,667
Members' capital classified as equity
-
578,646
Revaluation reserve
-
800,021
Members' other interests
-
1,378,667
For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied to LLPs) relating to dormant 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.
These 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.
Approved by the members on 5 June 2025.
Mrs Usha Assani
Designated member
Limited Liability Partnership Registration No. OC435447
KA PARTNERSHIP LLP
Notes to the Accounts
for the year ended 31 March 2025
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example, members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
All amounts due to members that are classified as liabilities are presented within Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.
Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Once an unavoidable obligation has been created in favour of members through the allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.
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.
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
KA PARTNERSHIP LLP
Notes to the Accounts
for the year ended 31 March 2025
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line 25%
KA PARTNERSHIP LLP is a limited liability partnership, incorporated in England and Wales, registration number OC435447. Its registered office is 93 St. Andrews Drive, Stanmore, Middlesex, HA7 2LZ, United Kingdom.
3
Tangible fixed assets
Computer equipment
Fair value at 1 April 2024
2,584,000
5
Creditors: amounts falling due after more than one year
2025
2024
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 0 (2024: 0).