|
Registered number: OC368733
CEDARKNIGHT PARTNERS LLP
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 5 APRIL 2026
|
|
CEDARKNIGHT PARTNERS LLP
REGISTERED NUMBER: OC368733
BALANCE SHEET
AS AT 5 APRIL 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts Falling Due Within One Year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members' capital classified as equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 27 July 2026.
Page 1
|
|
CEDARKNIGHT PARTNERS LLP
REGISTERED NUMBER: OC368733
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2026
The notes on pages 5 to 10 form part of these financial statements.
Page 2
|
|
CEDARKNIGHT PARTNERS LLP
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 5 APRIL 2026
|
|
Members capital (classified as equity)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 5 to 10 form part of these financial statements.
|
Page 3
|
|
CEDARKNIGHT PARTNERS LLP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 5 APRIL 2026
|
|
|
|
Profit for the financial year
|
|
|
|
|
|
|
Members' remuneration charged as an expense
|
|
|
(Increase)/decrease in debtors
|
|
|
(Increase) in amounts owed by groups
|
|
|
|
|
|
|
Net cash generated from operating activities before transactions with members
|
|
|
|
|
|
|
Members' remuneration charged as an expense
|
|
|
Net cash generated from operating activities
|
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
Distribution paid to members
|
|
|
Net cash used in financing activities
|
|
|
Net (decrease) in cash and cash equivalents
|
|
|
Cash and cash equivalents at beginning of year
|
|
|
Cash and cash equivalents at the end of year
|
|
|
|
|
|
|
Cash and cash equivalents at the end of year comprise:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 5 to 10 form part of these financial statements.
|
Page 4
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
CedarKnight Partners LLP is a limited liability partnership incorporated in England and Wales. The
registered office is Floor 19, 100 Bishopsgate, London, United Kingdom, EC2N 4AG.
The limited liability partnership's principal activities are disclosed in the Members' Report.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis.
In assessing the LLP's ability to continue as a going concern, the Members have considered the LLP's current financial position, cash flow forecasts and projected trading performance for a period of at least twelve months from the date of approval of these financial statements.
During the year, the LLP's commercial activity was significantly reduced whilst a regulatory approval process relating to an ownership restructuring was being completed. As a result, trading activity and revenues during the year were substantially lower than would ordinarily be expected. The Members consider this reduction in activity to have been temporary and non-recurring in nature.
Following receipt of the relevant regulatory approval and completion of the ownership restructuring, the LLP resumed normal business activities. Subsequent to the year end, the LLP has returned to profitable trading and generated positive cash flows from operations.
At the reporting date, the LLP held cash balances of approximately £105,000, had no external borrowings and only modest operating liabilities. The Members have prepared forecasts which demonstrate that the LLP is expected to maintain positive cash balances throughout the going concern assessment period and does not require additional external funding.
The LLP also benefits from recurring revenue arrangements which provide an ongoing source of income. In addition, the Members have confirmed that financial support would be available if required, although the forecasts do not indicate that such support will be necessary.
Having considered all relevant information, including the successful completion of the ownership restructuring, post-year-end trading performance, available cash resources and forecast cash flows, the Members have concluded that the LLP has adequate resources to continue in operational existence for the foreseeable future. The Members have not identified any material uncertainties related to events or conditions that may cast significant doubt upon the LLP's ability to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis.
Page 5
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
2.Accounting policies (continued)
|
|
|
Foreign currency translation
|
Functional and presentation currency
The LLP's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the LLP has transferred the significant risks and rewards of ownership to the buyer;
∙the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the LLP will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the LLP will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Page 6
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
2.Accounting policies (continued)
|
|
|
Division and distribution of profits
|
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the LLP's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:
|
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
Page 7
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
4.Debtors (continued)
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other amounts due to members
|
|
|
|
|
|
|
|
Loans and other debts due to members may be further analysed as follows:
|
|
|
|
|
|
|
Falling due after more than one year
|
|
|
|
|
|
|
|
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
Page 8
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
|
|
Reconciliation of members' interests
|
|
|
|
|
|
|
|
|
|
EQUITY
Members' other interests
|
DEBT
Loans and other debts due to members less any amounts due from members in debtors
|
|
|
|
Members' capital (classified as equity)
|
|
|
|
|
|
|
|
|
|
|
|
Members' interests after profit for the year
|
|
|
|
|
|
Drawings on account and distribution of profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Members' interests after profit for the year
|
|
|
|
|
|
Drawings on account and distribution of profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|
Page 9
|
|
CEDARKNIGHT PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2026
|
|
|
|
|
|
|
|
Net debt (before members' debt)
|
|
|
|
|
|
Loans and other debts due to members
|
|
|
|
|
|
Other amounts due to members
|
|
|
|
|
|
|
|
|
|
|
|
Related party transactions
|
|
|
Included in administrative expenses is an amount of £9,500, (2025: £26.500) which represents a service charge and insurance recharge is £2,356, (2025: £913) from CedarKnight Limited a member of the LLP.
Included within creditors as at year end of 5 April 2026 is an amount owed to CedarKnight Limited of
£Nil, (2025: £26,500).
At the balance sheet date, included within amounts owed by group undertakings is an amount owing of £3,663 (2025: £1,884).
Included in turnover are investment advisory fees of £Nil, (2025: £60,137) receivable from Cerne
Investments Holding Limited, a company under common control of G Uppal and K Abel.
|
During the year, K Abel transferred his entire direct and indirect interests in the LLP to G Uppal. Following this transaction, G Uppal holds interests in the LLP both directly and indirectly and is the ultimate controlling party of the LLP as at 05 April 2026.
The auditors' report on the financial statements for the year ended 5 April 2026 was unqualified.
The audit report was signed on 27 July 2026 by Darryl Ashing FCA (Senior Statutory Auditor) on behalf of Ashings Limited.
Page 10
|
|
|