AB Key LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—5

Registered number: OC389430

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		56,634		111,950

			56,634		111,950
CURRENT ASSETS
Stocks	5	15,965		15,785
Debtors	6	322,938		288,015
Cash at bank and in hand		169,417		183,777

		508,320		487,577
Creditors: Amounts Falling Due Within One Year	7	(236,153 )		(300,594 )

NET CURRENT ASSETS (LIABILITIES)			272,167		186,983

TOTAL ASSETS LESS CURRENT LIABILITIES			328,801		298,933

NET ASSETS ATTRIBUTABLE TO MEMBERS			328,801		298,933

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		2,460,655		1,732,279

			2,460,655		1,732,279

Equity
Members' other interests
Members' capital		(2,131,854)		(1,433,346)

			(2,131,854)		(1,433,346)

			328,801		298,933

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			2,460,655		1,732,279
Members' other interests			(2,131,854)		(1,433,346)

			328,801		298,933

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AB Key LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (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 LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Robert Douglas

Designated Member

5th September 2025

The notes on pages 4 to 5 form part of these financial statements.

	EQUITY			DEBT
	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors
	Members'Capital classified as Equity	Other Reserves	Total Equity	Other amounts	Total members' interest
	£	£	£	£	£
Amounts due to members	-	-	-	980,550	-

Balance at 1 December 2022	(708,866)	-	(708,866)	980,550	271,684
Profit/(loss) for the financial year available for discretionary division among members	-	751,729	751,729	-	751,729

Members' interests after profit/(loss) for the year	(708,866)	751,729	42,863	980,550	1,023,413
Other divisions of profits (losses)	-	(751,729)	(751,729)	751,729	-
Drawings	(724,480)	-	(724,480)	-	(724,480)

Amounts due to members	-	-	-	1,732,279	-

As at 31 March 2024 and 1 April 2024	(1,433,346)	-	(1,433,346)	1,732,279	298,933


Profit/(loss) for the financial year available for discretionary division among members	-	728,376	728,376	-	728,376

Members' interests after profit/(loss) for the year	(1,433,346)	728,376	(704,970)	1,732,279	1,027,309
Other divisions of profits (losses)	-	(728,376)	(728,376)	728,376	-
Drawings	(698,508)	-	(698,508)	-	(698,508)

Amounts due to members	-	-	-	2,460,655	-

As at 31 March 2025	(2,131,854)	-	(2,131,854)	2,460,655	328,801

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AB Key LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

1. General Information

AB Key LLP is a limited liability partnership, incorporated in England & Wales, registered number OC389430 . The Registered Office is Bruce Allen Llp Ground Floor Suite, Crown House, 40 North Street, Hornchurch, Essex, RM11 1EW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% per annum reducing balance
Motor Vehicles	25% per annum reducing balance
Fixtures & Fittings	25% per annum reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 12 (2024: 10)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2024	1,732	253,314	4,065	259,111
Disposals	-	(40,432 )	-	(40,432 )

As at 31 March 2025	1,732	212,882	4,065	218,679

...CONTINUED

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AB Key LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	866	143,042	3,253	147,161
Provided during the period	288	27,772	271	28,331
Disposals	-	(13,447 )	-	(13,447 )

As at 31 March 2025	1,154	157,367	3,524	162,045

Net Book Value
As at 31 March 2025	578	55,515	541	56,634

As at 1 April 2024	866	110,272	812	111,950

5. Stocks

	31 March 2025	31 March 2024
	£	£
Materials	15,965	15,785

6. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Trade debtors	303,715	275,386
Other debtors	19,223	12,629

	322,938	288,015

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	81,263	61,409
Bank loans and overdrafts	-	25,000
Other taxes and social security	-	4,642
VAT	134,823	165,237
Net wages	8,274	-
Other creditors	1,020	1,489
Company credit card	8,623	39,217
Accruals	2,150	3,600

	236,153	300,594

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