Kip McGrath (KMEC Harrogate) LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC416336

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,508		3,393
Tangible Assets	5		5,074		3,952

			6,582		7,345
CURRENT ASSETS
Debtors	6	20,123		5,335
Cash at bank and in hand		25,831		15,164

		45,954		20,499
Creditors: Amounts Falling Due Within One Year	7	(7,203 )		(12,401 )

NET CURRENT ASSETS (LIABILITIES)			38,751		8,098

TOTAL ASSETS LESS CURRENT LIABILITIES			45,333		15,443

Creditors: Amounts Falling Due After More Than One Year	8		(5,289 )		(5,289 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			40,044		10,154

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		11,818		419
Other amounts		28,226		9,735

			40,044		10,154

			40,044		10,154

TOTAL MEMBERS' INTEREST
Amounts due from members			(402)		(5,334)
Loans and other debts due to members within one year			40,044		10,154

			39,642		4,820

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Kip McGrath (KMEC Harrogate) LLP

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr R Peach

Designated Member

23/06/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Kip McGrath (KMEC Harrogate) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC416336 . The Registered Office is 6 Castle Hill Close, Harrogate, North Yorkshire, HG2 9JH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Computer Equipment	25% reducing balance

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 1 (2025: 2)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	15,083

As at 31 March 2026	15,083

...CONTINUED

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Kip McGrath (KMEC Harrogate) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Amortisation
As at 1 April 2025	11,690
Provided during the period	1,885

As at 31 March 2026	13,575

Net Book Value
As at 31 March 2026	1,508

As at 1 April 2025	3,393

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2025	5,882	6,833	12,715
Additions	-	2,813	2,813

As at 31 March 2026	5,882	9,646	15,528

Depreciation
As at 1 April 2025	5,046	3,717	8,763
Provided during the period	209	1,482	1,691

As at 31 March 2026	5,255	5,199	10,454

Net Book Value
As at 31 March 2026	627	4,447	5,074

As at 1 April 2025	836	3,116	3,952

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	222	-
Prepayments and accrued income	3,820	-
Other debtors	12,927	-
Other debtors - Fruition International Ltd Intercompany	2,751	-
Other taxes and social security	1	1
Amounts due from members	402	5,334

	20,123	5,335

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Kip McGrath (KMEC Harrogate) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	7,060	57
Bank loans and overdrafts	-	10,383
Other creditors	143	201
Accruals and deferred income	-	1,760

	7,203	12,401

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	5,289	5,289

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