REGISTERED NUMBER: OC448529 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

K2 Property Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

N R Dilip

Mrs N Patel

REGISTERED OFFICE:

124 City Road

London

EC1V 2NX

REGISTERED NUMBER:

OC448529 (England and Wales)

ACCOUNTANTS:

Palak Services Limited

80 Woodrush Way

Romford

Essex

RM6 5BL

FIXED ASSETS

Investment property

4

1,890,000

1,890,000

CURRENT ASSETS

Debtors

5

1,788

-

Cash at bank and in hand

100,405

39,848

102,193

39,848

CREDITORS

Amounts falling due within one year

6

12,514

10,875

NET CURRENT ASSETS

89,679

28,973

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,979,679

1,918,973

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

89,679

28,973

MEMBERS' OTHER INTERESTS

Capital accounts

1,890,000

1,890,000

1,979,679

1,918,973

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

89,679

28,973

Members' other interests

1,890,000

1,890,000

1,979,679

1,918,973

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 March 2025.

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.

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 September 2025 and were signed by:

N R Dilip - Designated member

1.	STATUTORY INFORMATION

K2 Property Partnership 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 (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for rent and services. Rent is recognised for the period for which it is due.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,890,000

NET BOOK VALUE

At 31 March 2025

1,890,000

At 31 March 2024

1,890,000

In the opinion of the members the market value of the investment properties, as at the balance sheet date, are not significantly different to the book value of the properties shown in the accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

DPS rent deposits

1,788

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1

-

Tenant rent deposit

1,788

-

Accruals and deferred income

10,725

10,875

12,514

10,875

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

89,679

28,973

Falling due within one year

89,679

28,973

Loans and other debts due to members rank pari-passu to other unsecured creditors.