Wk Risk Solutions LLP - LLP accounts 24.3

REGISTERED NUMBER: SO301193 (Scotland)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Wk Risk Solutions LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

K King

Dkk Ltd

REGISTERED OFFICE:

1B Orbital Court

Peel Park

East Kilbride

G74 5PH

REGISTERED NUMBER:

SO301193 (Scotland)

ACCOUNTANTS:

KPP Glasgow South Ltd

Chartered Certified Accountants

Unit 3 , 37 Rosyth Road

Morris Park

Glasgow

G5 0YE

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

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of insurance brokers

DESIGNATED MEMBERS

The designated members during the year under review were:

K King

Dkk Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £410,597 (2024 - £376,453 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

K King - Designated member

15 May 2025

TURNOVER

824,436

712,741

Administrative expenses

(415,117

)

(337,525

)

OPERATING PROFIT

4

409,319

375,216

Interest receivable and similar income

1,667

2,222

410,986

377,438

Interest payable and similar expenses

(389

)

(985

)

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

410,597

376,453

FIXED ASSETS

Intangible assets

6

109,951

70,000

Tangible assets

7

25,529

34,419

135,480

104,419

CURRENT ASSETS

Debtors

8

302,727

338,999

Cash at bank and in hand

523,627

460,026

826,354

799,025

CREDITORS

Amounts falling due within one year

9

529,211

529,242

NET CURRENT ASSETS

297,143

269,783

TOTAL ASSETS LESS CURRENT
LIABILITIES

432,623

374,202

CREDITORS

Amounts falling due after more than one
year

10

31,066

46,930

NET ASSETS ATTRIBUTABLE TO
MEMBERS

401,557

327,272

LOANS AND OTHER DEBTS DUE TO
MEMBERS

12

401,557

327,272

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

12

401,557

327,272

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 15 May 2025 and were signed by:

K King - Designated member

1.	STATUTORY INFORMATION

Wk Risk Solutions LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Fixtures & Fittings @ 10% reducing balance

Motor Vehicle @ 25% reducing balance

Hire purchase and leasing commitments

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

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 during the year was NIL (2024 - 2 ).

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

Depreciation - owned assets

8,890

10,771

5.	INFORMATION IN RELATION TO MEMBERS

31.3.25

31.3.24

The average number of members during the year was

2

6.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

74,500

Additions

39,951

At 31 March 2025

114,451

AMORTISATION

At 1 April 2024

and 31 March 2025

4,500

NET BOOK VALUE

At 31 March 2025

109,951

At 31 March 2024

70,000

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 April 2024

and 31 March 2025

39,392

56,436

95,828

DEPRECIATION

At 1 April 2024

34,907

26,502

61,409

Charge for year

743

8,147

8,890

At 31 March 2025

35,650

34,649

70,299

NET BOOK VALUE

At 31 March 2025

3,742

21,787

25,529

At 31 March 2024

4,485

29,934

34,419

8.

DEBTORS

31.3.25

31.3.24

£

Amounts falling due within one year:

Debtors & prepaid charges

278,990

315,262

Amounts falling due after more than one year:

Loan a/c - M Hoblyn

6,737

DKK Ltd

17,000

23,737

Aggregate amounts

302,727

338,999

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Creditors & accrued charges

520,924

528,119

Social security and other taxes

8,287

1,123

529,211

529,242

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans (see note 11)

10,378

20,637

Hire purchase contracts

20,688

26,293

31,066

46,930

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,000

11.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

5,163

8,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

5,215

4,637

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,000

12.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

Amounts owed to members in respect of profits

401,557

327,272

Falling due within one year

401,557

327,272

Loans and other debts due to members rank equally alongside other creditors.