REGISTERED NUMBER: OC327367 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

KLBC LLP

Page

General Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

I E R W Carter

REGISTERED OFFICE:

Bourne House

Prince Edward Street

Berkhamsted

Herts

HP4 3EZ

REGISTERED NUMBER:

OC327367 (England and Wales)

ACCOUNTANTS:

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Members' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of KLBC LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of KLBC LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KLBC LLP and state those matters that we have agreed to state to the members of KLBC LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KLBC LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that KLBC LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of KLBC LLP. You consider that KLBC LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of KLBC LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

31 December 2025

FIXED ASSETS

Tangible assets

4

2,955,629

1,024,088

CURRENT ASSETS

Debtors

5

150,957

61,058

Cash at bank and in hand

124,517

181,554

275,474

242,612

CREDITORS

Amounts falling due within one year

6

790,632

299,400

NET CURRENT LIABILITIES

(515,158

)

(56,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,440,471

967,300

CREDITORS

Amounts falling due after more than one year

7

897,253

1,172,832

NET ASSETS/(LIABILITIES) ATTRIBUTABLE TO MEMBERS

1,543,218

(205,532

)

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

-

1,118

MEMBERS' OTHER INTERESTS

Capital accounts

(206,650

)

(206,650

)

Fair value reserve

9

1,749,868

-

1,543,218

(205,532

)

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

-

1,118

Members' other interests

1,543,218

(206,650

)

Amounts due from members

5

(82,487

)

-

1,460,731

(205,532

)

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 31 December 2025 and were signed by:

I E R W Carter - Designated member

1.	STATUTORY INFORMATION

KLBC 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 as modified by the revaluation of certain assets.

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.

Long leasehold

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on 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.

Going concern

The financial statements have been prepared on a going concern basis. The LLP incurred a loss of £305K for the year ended 31 March 2025 and had net current liabilities at the balance sheet date. The members have reviewed the LLP’s cash flow forecasts and confirm they will provide financial support for at least 12 months from the date of approval of these financial statements. On this basis, the members consider it appropriate to prepare the financial statements on a going concern basis.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

875,132

832,630

1,707,762

Additions

238,193

755

238,948

Disposals

-

(96,926

)

(96,926

)

Revaluations

1,749,868

-

1,749,868

At 31 March 2025

2,863,193

736,459

3,599,652

DEPRECIATION

At 1 April 2024

-

683,674

683,674

Charge for year

18,806

21,366

40,172

Eliminated on disposal

-

(79,823

)

(79,823

)

At 31 March 2025

18,806

625,217

644,023

NET BOOK VALUE

At 31 March 2025

2,844,387

111,242

2,955,629

At 31 March 2024

875,132

148,956

1,024,088

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2025

2,863,193

736,459

3,599,652

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

68,470

61,058

Amounts due from members

82,487

-

150,957

61,058

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

183,317

146,134

Amounts owed to group undertakings

473,833

-

VAT

21,649

38,197

Other creditors

5,977

7,694

Deposits held

15,757

9,933

Accrued expenses

90,099

97,442

790,632

299,400

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

897,253

1,172,832

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

-

1,118

Falling due within one year

-

1,118

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

9.

RESERVES

Fair

value

reserve

£

Property

1,749,868

At 31 March 2025

1,749,868

10.	RELATED PARTY DISCLOSURES

At the year end the company owed £899,389 (PY - £1,172,832) to the members of the company, in respect of interest free loans which are repayable on demand.