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Registered number: OC335231
East Kent Opportunities LLP
Financial statements
Information for filing with the registrar
For the year ended 31 March 2025
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East Kent Opportunities LLP
Registered number: OC335231
Balance sheet
As at 31 March 2025
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Other reserves classified as equity
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Amounts due from members (included in debtors)
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The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
The notes on pages 4 to 7 form part of these financial statements.
Page 1
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East Kent Opportunities LLP
Registered number: OC335231
Balance sheet (continued)
As at 31 March 2025
Page 2
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East Kent Opportunities LLP
Statement of changes in equity
For the year ended 31 March 2025
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Members capital (classified as equity)
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Comprehensive income for the year
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Profit for year for discretionary division among members
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Contributions by and distributions to members
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Transfer to/from profit and loss account
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Comprehensive income for the year
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Loss for year for discretionary division among members
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Contributions by and distributions to members
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Transfer to/from profit and loss account
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The notes on pages 4 to 7 form part of these financial statements.
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Page 3
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East Kent Opportunities LLP
Notes to the financial statements
For the year ended 31 March 2025
East Kent Opportunities LLP is a limited liability partnership incorporated in England. The address of the registered office is Room 3.17, Session House, County Road, Maidstone, Kent, ME14 1XG. The principal activities of the LLP can be found within the Members' report.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.
The company's financial statements are presented to the nearest Pound.
The following principal accounting policies at 2.2 to 2.8 have been applied.
The LLP has £857,489 included in cash at the bank. The LLP meets its day to day working capital requirements through these reserves. As a consequence, the members believe that the LLP is well placed to manage its business risks successfully.
After making enquiries, the members have a reasonable expectation that the LLP has adequate financial resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Land is recorded at fair value at the date of the revaluation less any accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers and updated by the members at the year end.
Revaluation gains and losses are recognised in the Statement of comprehensive income.
Land is not depreciated.
At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Page 4
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East Kent Opportunities LLP
Notes to the financial statements
For the year ended 31 March 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.
Page 5
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East Kent Opportunities LLP
Notes to the financial statements
For the year ended 31 March 2025
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Interest income is recognised in profit or loss using the effective interest method.
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The entity has no employees other than the members, who did not receive any remuneration (2024 £NIL).
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The entity has no employees.
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The 2025 valuations were made based on valuations undertaken by Savills (UK) Limited Chartered Surveryors as at 5 December 2024.
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Page 6
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East Kent Opportunities LLP
Notes to the financial statements
For the year ended 31 March 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.
The audit report was signed on 20 September 2025 by Mark Attwood FCCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.
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