Company No: OC384471 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	413,447		413,447
		413,447		413,447
Current assets
Debtors	4	1,765		0
Cash at bank and in hand		21,142		50,910
		22,907		50,910
Creditors: amounts falling due within one year	5	( 523,875)		( 521,726)
Net current liabilities		(500,968)		(470,816)
Total assets less current liabilities		(87,521)		(57,369)
Net liabilities attributable to members		( 87,521)		( 57,369)
Represented by
Members' other interests
Other reserves		(87,521)		(57,369)
		(87,521)		(57,369)
		(87,521)		(57,369)
Total members' interests
Members' other interests		(87,521)		(57,369)
		(87,521)		(57,369)

For the financial 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of KGB Corporation LLP (registered number: OC384471) were approved and authorised for issue by the members on 13 July 2026. They were signed on its behalf by:

Exmoor Hay & Straw Ltd Designated member		G.S. Brown Limited Designated member
PFG Fabrication Limited Designated member

	EQUITY Members' other interests	Total members' interests
	Other reserves	Total
	£	£
Balance at 01 April 2024	(70,323)	(70,323)
Profit for the financial year available for discretionary division among members	12,954	12,954
Members' interest after profit for the financial year	(57,369)	(57,369)
Balance at 31 March 2025	(57,369)	(57,369)
Loss for the financial year available for discretionary division among members	(30,152)	(30,152)
Members' interest after loss for the financial year	(87,521)	(87,521)
Balance at 31 March 2026	(87,521)	(87,521)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

KGB Corporation LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental revenue from leasing a pub and is recognised when rent is due.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The fair value is determined annually by the members, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the financial year, including members.	3		3

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	413,447
As at 31 March 2026	413,447

The fair value is determined annually by the members, on an open market value for existing use basis.

4. Debtors

	2026		2025
	£		£
Other debtors	1,765		0

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Other creditors	523,875		521,726

Included in other creditors are amounts owing to the members.