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Company No: OC348258 (England and Wales)

KHE PARTNERSHIP LLP

Unaudited Financial Statements
For the financial period from 01 September 2023 to 31 December 2024
Pages for filing with the registrar

KHE PARTNERSHIP LLP

Unaudited Financial Statements

For the financial period from 01 September 2023 to 31 December 2024

Contents

KHE PARTNERSHIP LLP

BALANCE SHEET

As at 31 December 2024
KHE PARTNERSHIP LLP

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.08.2023
£ £
Fixed assets
Investment property 3 412,802 395,761
412,802 395,761
Current assets
Debtors 4 5,006 0
Cash at bank and in hand 219 4,880
5,225 4,880
Creditors: amounts falling due within one year 5 ( 7,939) ( 7,689)
Net current liabilities (2,714) (2,809)
Total assets less current liabilities 410,088 392,952
Net assets attributable to members 410,088 392,952
Represented by
Loans and other debts due to members within one year
Other amounts 311,134 243,944
311,134 243,944
Members' other interests
Other reserves 98,954 149,008
98,954 149,008
410,088 392,952
Total members' interests
Loans and other debts due to members 311,134 243,944
Members' other interests 98,954 149,008
410,088 392,952

For the financial period ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of KHE Partnership LLP (registered number: OC348258) were approved and authorised for issue by the Board of Directors on 23 July 2025. They were signed on its behalf by:

B J Templeman
Designated member
KHE PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2023 to 31 December 2024
KHE PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2023 to 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

KHE Partnership LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Heatherdene Canada Common, West Wellow, Romsey, SO51 6DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounts have been prepared for the 16 month period ended 31st December 2024.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the rent received.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company activities.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, 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 Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
01.09.2023 to
31.12.2024
Year ended
31.08.2023
Number Number
Monthly average number of persons employed by the LLP during the period 2 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 395,761
Fair value movement 17,041
As at 31 December 2024 412,802

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

31.12.2024 31.08.2023
£ £
Historic cost 400,549 400,549

4. Debtors

31.12.2024 31.08.2023
£ £
Trade debtors 2,101 0
Other debtors 2,905 0
5,006 0

5. Creditors: amounts falling due within one year

31.12.2024 31.08.2023
£ £
Trade creditors 39 0
Other taxation and social security 0 1,580
Other creditors 7,900 6,109
7,939 7,689