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REGISTERED NUMBER: OC419469 (England and Wales)


















KEVIN JAMES SMITH WEALTH MANAGERS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






KEVIN JAMES SMITH WEALTH MANAGERS LLP (REGISTERED NUMBER: OC419469)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEVIN JAMES SMITH WEALTH MANAGERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DESIGNATED MEMBERS: Mrs D J Smith
K J Smith
Mrs E A Howard





REGISTERED OFFICE: 53 Gowerton Road
Three Crosses
Swansea
SA4 3PY





REGISTERED NUMBER: OC419469 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

KEVIN JAMES SMITH WEALTH MANAGERS LLP (REGISTERED NUMBER: OC419469)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,054 1,896

CURRENT ASSETS
Debtors 5 1,094 6,666
Cash at bank 80,825 54,296
81,919 60,962
CREDITORS
Amounts falling due within one year 6 2,276 2,313
NET CURRENT ASSETS 79,643 58,649
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

81,697

60,545

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

51,697

30,545

MEMBERS' OTHER INTERESTS
Capital accounts 30,000 30,000
81,697 60,545

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 51,697 30,545
Members' other interests 30,000 30,000
Amounts due from members 5 - (5,825 )
81,697 54,720

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 October 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.

KEVIN JAMES SMITH WEALTH MANAGERS LLP (REGISTERED NUMBER: OC419469)

BALANCE SHEET - continued
31 OCTOBER 2024


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 15 July 2025 and were signed by:





K J Smith - Designated member

KEVIN JAMES SMITH WEALTH MANAGERS LLP (REGISTERED NUMBER: OC419469)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Kevin James Smith Wealth Managers LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest pound.

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 LLP has both net current assets and net assets at the balance sheet date.

The members have assessed the current financial position of the LLP and its likely future cashflows and as a consequence he has a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the members have made in the process of applying the LLP's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.

Provisions and contingencies
Provisions are recognised when the LLP has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Turnover
Turnover represents commissions received and the net invoiced sale of services provided during the year. Invoiced services are recognised in the period to which the services relate whilst commission is recognsied on receipt.

KEVIN JAMES SMITH WEALTH MANAGERS LLP (REGISTERED NUMBER: OC419469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

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

Fixed assets are measured at cost less any accumulated depreciation.

Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 November 2023 3,232
Additions 1,146
At 31 October 2024 4,378
DEPRECIATION
At 1 November 2023 1,336
Charge for year 988
At 31 October 2024 2,324
NET BOOK VALUE
At 31 October 2024 2,054
At 31 October 2023 1,896

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,094 6,666

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 2,276 2,313

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans and other debts due to members rank pari passu with other creditors.