JMKN LLP - LLP accounts 24.3

REGISTERED NUMBER: OC342330 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

JMKN LLP

Page

General Information

1

Report of the Members

2

Profit and Loss Account

3

Balance Sheet

4

Reconciliation of Members' Interests

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Mr J E Nichols

Mr M J Nichols

Mrs K H Kropp

REGISTERED OFFICE:

7 Broomfield Lane

Hale

Altrincham

WA15 9AP

REGISTERED NUMBER:

OC342330 (England and Wales)

ACCOUNTANTS:

Thompson Wright (Hale) Limited

Chartered Accountants

Spring Court

Spring Road

Hale

Altrincham

Cheshire

WA14 2UQ

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr J E Nichols

Mr M J Nichols

Mrs K H Kropp

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,403,377 (2024 - £6,316 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mr J E Nichols - Designated member

8 December 2025

TURNOVER

-

Administrative expenses

130,909

110,419

(130,909

)

(110,419

)

Other operating income

284,407

212,758

OPERATING PROFIT

4

153,498

102,339

Gain/loss on revaluation of investment property

1,429,757

-

1,583,255

102,339

Interest payable and similar expenses

179,878

108,655

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

1,403,377

(6,316

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

1,403,377

(6,316

)

Members' remuneration charged as an expense

5

(1,403,377

)

6,316

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS

-

FIXED ASSETS

Tangible assets

6

838

1,118

Investment property

7

5,480,153

4,012,511

5,480,991

4,013,629

CURRENT ASSETS

Debtors

8

783,675

433,133

Investments

9

75,040

Cash at bank

143,780

177,898

1,002,495

686,071

CREDITORS

Amounts falling due within one year

10

90,394

66,877

NET CURRENT ASSETS

912,101

619,194

TOTAL ASSETS LESS CURRENT LIABILITIES

6,393,092

4,632,823

CREDITORS

Amounts falling due after more than one year

11

1,501,000

1,249,980

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,892,092

3,382,843

LOANS AND OTHER DEBTS DUE TO MEMBERS

12

4,892,092

3,382,843

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

12

4,892,092

3,382,843

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 8 December 2025 and were signed by:

Mr J E Nichols - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Members'

capital

Other

(classified

Other

reserves

as debt)

amounts

Total

£

Amount due to members

3,337,534

45,309

3,382,843

Amount due from members

-

Balance at 1 April 2024

-

3,337,534

45,309

3,382,843

Members' remuneration charged as an
expense, including employment and
retirement benefit costs

-

1,403,377

Profit for the financial year available
for discretionary division among
members

-

Members' interests after profit for the
year

-

3,337,534

1,448,686

4,786,220

Introduced by members

-

165,872

-

165,872

Drawings on account and distributions
of profit

-

(60,000

)

(60,000

)

(60,000

)

Amount due to members

3,503,406

1,388,686

4,892,092

Amount due from members

-

Balance at 31 March 2025

-

3,503,406

1,388,686

4,892,092

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Members'

capital

Other

(classified

Other

reserves

as debt)

amounts

Total

£

Amount due to members

3,235,007

51,625

3,286,632

Amount due from members

-

Balance at 1 April 2023

-

3,235,007

51,625

3,286,632

Members' remuneration charged as an
expense, including employment and
retirement benefit costs

-

(6,316

)

(6,316

)

(6,316

)

Profit for the financial year available
for discretionary division among
members

-

Members' interests after profit for the
year

-

3,235,007

45,309

3,280,316

Introduced by members

-

102,527

-

102,527

Amount due to members

3,337,534

45,309

3,382,843

Amount due from members

-

Balance at 31 March 2024

-

3,337,534

45,309

3,382,843

1.	STATUTORY INFORMATION

JMKN 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 as modified by the revaluation of certain assets.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees, including members with contracts of employment, during the year was 5 (2024 - 5 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

Depreciation - owned assets

280

372

5.	INFORMATION IN RELATION TO MEMBERS

2025

2024

£

Members' remuneration charged as an expense

Remuneration paid under an employment contract

60,000

-

Automatic division of profit/(loss)

1,343,377

(6,316

)

Total remuneration

1,403,377

(6,316

)

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

13,921

3,389

1,490

18,800

DEPRECIATION

At 1 April 2024

13,921

3,389

372

17,682

Charge for year

-

280

At 31 March 2025

13,921

3,389

652

17,962

NET BOOK VALUE

At 31 March 2025

-

838

At 31 March 2024

-

1,118

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

4,012,511

Additions

37,885

Revaluations

1,429,757

At 31 March 2025

5,480,153

NET BOOK VALUE

At 31 March 2025

5,480,153

At 31 March 2024

4,012,511

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,429,757

Cost

4,050,396

5,480,153

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by group undertakings

782,182

433,133

Other debtors

1,493

-

783,675

433,133

9.	CURRENT ASSET INVESTMENTS

2025

2024

£

Unlisted investments

75,040

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

2,996

10,025

Amounts owed to group undertakings

-

658

Taxation and social security

758

667

Other creditors

86,640

55,527

90,394

66,877

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

1,501,000

1,249,980

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,501,000

1,249,980

12.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are also no restrictions or limitations on the ability of the members to reduce the amount of members other interests.