Registration number:
Kerry Lettings LLP
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025
Kerry Lettings LLP
Contents
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Limited liability partnership information |
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Members' Report |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Kerry Lettings LLP
Limited liability partnership information
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Designated members |
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Registered office |
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Accountants |
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Kerry Lettings LLP
Members' Report for the Year Ended 31 March 2025
The members present their report and the unaudited financial statements for the year ended 31 March 2025.
Designated members
The members who held office during the year were as follows:
Members' drawings and the subscription and repayment of members' capital
The LLP's drawings policy allows each member to draw out of the parnership in accordance with their entitlement to their share of profits. If drawings are paid to members in excess of their entitlement this is paid back immediately. All payments are subject to the cash requirements of the LLP.
The members are entitled to the LLP's capital in the same proportions as the initial capital. No subsequent payment of capital by a member will affect their entitlement to the capital of the LLP. Any capital lost will be treated as reducing the entitlement of the members to the capital in the same proportions they originally ontributed.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.
Approved by the
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Kerry Lettings LLP
(Registration number: OC437438)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Members’ other interests |
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Members' capital classified as equity |
2,956,043 |
2,834,060 |
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2,956,043 |
2,834,060 |
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Total members' interests |
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Equity |
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2,956,043 |
2,834,060 |
For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
Kerry Lettings LLP
(Registration number: OC437438)
Balance Sheet as at 31 March 2025
The financial statements of Kerry Lettings LLP (registered number OC437438) were approved by the
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Kerry Lettings LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Kerry Lettings LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Revenue recognition
Turnover comprises the fair value of rental income received or receivable in the ordinary course of the limited liability partnership's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The limited liability partnership recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the limited liability partnership's activities.
Members' remuneration and division of profits
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Kerry Lettings LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
25% straight line |
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Office equipment |
33% straight line |
Investment properties
Investment property is recognised at cost on initial recognition. Subsequently, investment property is measured at fair value at the reporting date with any changes recognised in the profit and loss account.
Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Profit for the year before members' remuneration and profit shares |
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2025 |
2024 |
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Depreciation |
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Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Kerry Lettings LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Tangible fixed assets |
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Fixtures and fittings |
Office equipment |
Total |
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Cost |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Net book value |
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At 31 March 2025 |
- |
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At 31 March 2024 |
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Investment property |
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2025 |
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At 1 April 2024 |
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Additions |
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Fair value adjustments |
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At 31 March 2025 |
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Debtors |
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2025 |
2024 |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
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2025 |
2024 |
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Bank loans and overdrafts |
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Trade creditors |
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- |
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Other creditors |
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Accruals and deferred income |
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Kerry Lettings LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Creditors: Amounts falling due after more than one year |
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2025 |
2024 |
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Other loans |
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