REGISTERED NUMBER: OC433453 (England and Wales)

Unaudited Financial Statements

for the Period 1st September 2024 to 31st March 2025

for

Korvo LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr R S Emrich

Mrs L M Raven Emrich

REGISTERED OFFICE:

Central Chambers

227 London Road

Hadleigh

Essex

SS7 2RF

REGISTERED NUMBER:

OC433453 (England and Wales)

ACCOUNTANTS:

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

FIXED ASSETS

Tangible assets

4

9,802

11,475

CURRENT ASSETS

Debtors

2,166

2,343

Cash at bank

32

193

2,198

2,536

CREDITORS

Amounts falling due within one year

5

7,089

8,180

NET CURRENT LIABILITIES

(4,891

)

(5,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,911

5,831

CREDITORS

Amounts falling due after more than one year

6

3,605

5,551

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,306

280

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

1,306

280

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

1,306

280

Amounts due from members

(2,166

)

(2,343

)

(860

)

(2,063

)

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 period ended 31st 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 29th December 2025 and were signed by:

Mr R S Emrich - Designated member

1.	STATUTORY INFORMATION

Korvo LLP is registered in England and Wales. 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.

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.

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.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st September 2024

and 31st March 2025

15,300

DEPRECIATION

At 1st September 2024

3,825

Charge for period

1,673

At 31st March 2025

5,498

NET BOOK VALUE

At 31st March 2025

9,802

At 31st August 2024

11,475

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

Motor

vehicles

£

COST

At 1st September 2024

and 31st March 2025

15,300

DEPRECIATION

At 1st September 2024

3,825

Charge for period

1,673

At 31st March 2025

5,498

NET BOOK VALUE

At 31st March 2025

9,802

At 31st August 2024

11,475

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/8/24

£

£

Hire purchase contracts

3,337

3,337

Trade creditors

-

(1

)

Other creditors

3,752

4,844

7,089

8,180

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/8/24

£

£

Hire purchase contracts

3,605

5,551

7.

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 no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.