REGISTERED NUMBER: OC440115 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2025

for

Morton Kathrens LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M Kathrens

B Kathrens

MBK Property Ltd

REGISTERED OFFICE:

Oaklea House

46 Coatham Road

Redcar

England

TS10 1RS

REGISTERED NUMBER:

OC440115 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Oaklea House

46 Coatham Road

Redcar

TS10 1RS

Fixed assets

Investment property

4

1,196,000

1,098,672

Current assets

Debtors

5

6,439

12,421

Creditors

Amounts falling due within one year

6

(6,918

)

(47,427

)

Net current liabilities

(479

)

(35,006

)

Total assets less current liabilities

1,195,521

1,063,666

Creditors

Amounts falling due after more than one year

7

(717,340

)

(604,553

)

Net assets attributable to members

478,181

459,113

Loans and other debts due to members

8

478,181

459,113

Total members' interests

Loans and other debts due to members

8

478,181

459,113

Amounts due from members

5

(1,939

)

(8,286

)

476,242

450,827

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 5 April 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 6 January 2026 and were signed by:

B Kathrens - Designated member

1.	STATUTORY INFORMATION

Morton Kathrens 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.

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.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2024

1,098,672

Disposals

(60,000

)

Revaluations

157,328

At 5 April 2025

1,196,000

NET BOOK VALUE

At 5 April 2025

1,196,000

At 5 April 2024

1,098,672

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts due from members

1,939

8,286

Other debtors

4,500

4,135

6,439

12,421

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

40,000

Other creditors

5,378

6,059

Accrued expenses

1,540

1,368

6,918

47,427

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgages

717,340

604,553

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgages

717,340

604,553

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

478,181

459,113

Falling due within one year

478,181

459,113

Members rank ahead of other creditors in a liquidation.