| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| KOLA CAPITAL LLP |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| KOLA CAPITAL LLP |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2024 |
| Page |
| General Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| KOLA CAPITAL LLP |
| GENERAL INFORMATION |
| for the year ended 30 November 2024 |
| DESIGNATED MEMBERS: |
| Kola Capital Services Limited |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| STATEMENT OF FINANCIAL POSITION |
| 30 November 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
73,484 |
73,487 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
73,484 |
73,487 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 8 | 73,484 | 73,487 |
| Amounts due from members | 6 | (169,860 | ) | (124,214 | ) |
| (96,376 | ) | (50,727 | ) |
| 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. |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 November 2024 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| Kola Capital 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. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Taxation |
| No provision has been made for taxation in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP. Tax is assessed on the individual member and not on the LLP. |
| Property, plant and equipment |
| Plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows; |
| Plant and equipment | 25% on cost |
| The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
| Foreign currencies |
| Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period. |
| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date. |
| Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined. |
| All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income. |
| Cash and cash equivalents |
| Cash and cash equivalents in the balance sheet comprise cash at banks and in hand. |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The LLP has adopted section 11 of FRS 102 in respect of its basic financial instruments. |
| Basic financial assets |
| Trade and other debtors, amounts due from members and group undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period basic 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. |
| If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
| Basic financial liabilities |
| Trade and other creditors and amounts due to members are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. |
| Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
| Members' interests |
| Members' interests that are in substance liabilities of the LLP are shown as such in accordance with FRS 102. |
| 4. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2023 - NIL). |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| KOLA CAPITAL LLP (REGISTERED NUMBER: OC355126) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by related undertakings |
| Amounts due from members | 169,860 | 124,214 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Loans |
| Other creditors |
| Accruals and deferred income |
| The other loan is unsecured, interest free, and repayable on demand |
| 8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| In the event of a winding up the amounts included in ''Loans and other debts due to members'' will rank equally with unsecured creditors. |
| 9. | ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
| The controlling party is A Motlokhov. |