REGISTERED NUMBER: OC325702 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

KPA LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P J Nicholls

Mrs A J Nicholls

REGISTERED OFFICE:

The Orchard

Berrow Road

Burnham-on-Sea

Somerset

TA8 2JJ

REGISTERED NUMBER:

OC325702 (England and Wales)

ACCOUNTANTS:

Monahans

Oakley House

Tetbury Road

Cirencester

Glos

GL7 1US

FIXED ASSETS

Tangible assets

5

36,720

17,085

CURRENT ASSETS

Debtors

6

58,744

46,120

Cash at bank

11,460

23,315

70,204

69,435

CREDITORS

Amounts falling due within one year

7

41,113

38,896

NET CURRENT ASSETS

29,091

30,539

TOTAL ASSETS LESS CURRENT LIABILITIES

65,811

47,624

CREDITORS

Amounts falling due after more than one year

8

17,701

21,669

NET ASSETS ATTRIBUTABLE TO MEMBERS

48,110

25,955

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

48,110

25,955

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

48,110

25,955

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 22 December 2025 and were signed by:

P J Nicholls - Designated member

Mrs A J Nicholls - Designated member

1.	STATUTORY INFORMATION

KPA 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

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

4.	EMPLOYEE INFORMATION

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

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

4,978

-

36,698

14,335

56,011

Additions

-

6,431

24,250

874

31,555

At 31 March 2025

4,978

6,431

60,948

15,209

87,566

DEPRECIATION

At 1 April 2024

4,373

-

21,117

13,436

38,926

Charge for year

91

1,286

9,958

585

11,920

At 31 March 2025

4,464

1,286

31,075

14,021

50,846

NET BOOK VALUE

At 31 March 2025

514

5,145

29,873

1,188

36,720

At 31 March 2024

605

-

15,581

899

17,085

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

36,698

Additions

24,250

At 31 March 2025

60,948

DEPRECIATION

At 1 April 2024

21,117

Charge for year

9,958

At 31 March 2025

31,075

NET BOOK VALUE

At 31 March 2025

29,873

At 31 March 2024

15,581

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

19,844

7,295

Amounts owed by participating interests

-

35,000

Other debtors

504

504

VAT

37

-

Prepayments and accrued income

3,359

3,321

23,744

46,120

Amounts falling due after more than one year:

Amounts owed by group undertakings

35,000

-

Aggregate amounts

58,744

46,120

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,580

4,580

Hire purchase contracts

23,628

22,292

Trade creditors

11,209

9,227

VAT

-

1,508

Other creditors

351

19

Accruals and deferred income

1,345

1,270

41,113

38,896

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

17,701

21,669

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

23,628

22,292

Amounts due under hire purchase contracts are secured on the assets to which the contracts relate.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.