Kilburn Lane LLP LLP accounts

REGISTERED NUMBER: OC412525

Kilburn Lane LLP

Unaudited Financial Statements

31 March 2026

Kilburn Lane LLP

Financial Statements

Year ended 31 March 2026

Contents	Page

Members' report	1

Statement of comprehensive income	2

Statement of financial position	3

Reconciliation of members' interests	5

Notes to the financial statements	7

Kilburn Lane LLP

Members' Report

Year ended 31 March 2026

The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2026 .

Principal activities

The principal activity of the company during the year was that of purchasing, developing and selling its own real estate.

Designated members

The designated members who served the LLP during the year were as follows:

. Freshlead Limited
. Fruition Properties Limited

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them only with permission of all other members. The amount of any such drawings to be determined taking into account the anticipated cash needs of the LLP.

This report was approved by the members on 16 September 2026 and signed on behalf of the members by:

. Freshlead Limited

Designated Member

Registered office:

Flat 4

12 Ladboke Crescent

London

W11 1PS

Kilburn Lane LLP

Statement of Comprehensive Income

Year ended 31 March 2026

	2026	2025
Note	£	£
Turnover	2,786,093	1,151,517

Cost of sales	4,723,607	2,014,879
	------------	------------
Gross loss	( 1,937,514)	( 863,362)

Administrative expenses	90,599	148,108
Other operating income	400	400
	------------	------------
Operating loss	( 2,027,713)	( 1,011,070)

Interest payable and similar expenses	443,509	556,121
	------------	------------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members	(2,471,222)	(1,567,191)
	------------	------------

All the activities of the LLP are from continuing operations.

Kilburn Lane LLP

Statement of Financial Position

31 March 2026

	2026	2025
Note	£	£

Current assets

Stocks		4,586,400	9,213,561
Debtors	5	67,678	90,478
Cash at bank and in hand		204	450
		------------	------------
		4,654,282	9,304,489

Creditors: amounts falling due within one year	6	1,608,028	1,973,591
		------------	------------
Net current assets		3,046,254	7,330,898
		------------	------------
Total assets less current liabilities		3,046,254	7,330,898

Creditors: amounts falling due after more than one year	7	3,018,773	4,830,041
		------------	------------
Net assets		27,481	2,500,857
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	8	5,634,026	5,636,180

Members' other interests

Other reserves	(5,606,545)	(3,135,323)
	------------	------------
	27,481	2,500,857
	------------	------------

Total members' interests

Loans and other debts due to members	8	5,634,026	5,636,180
Members' other interests		(5,606,545)	(3,135,323)
		------------	------------
		27,481	2,500,857
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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) relating to small LLPs.

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 financial statements .

Kilburn Lane LLP

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the members and authorised for issue on 16 September 2026 , and are signed on their behalf by:

. Freshlead Limited

Designated Member

Registered number: OC412525

Kilburn Lane LLP

Reconciliation of Members' Interests

Year ended 31 March 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2026
	£	£	£	£	£
Balance at 1 April 2025	(3,135,323)	(3,135,323)	5,636,180	5,636,180	2,500,857
Loss for the financial year available for discretionary division among members	(2,471,222)	(2,471,222)			(2,471,222)
	------------	------------	------------	------------	------------
Members' interests after loss for the year	(5,606,545)	(5,606,545)	5,636,180	5,636,180	29,635
Introduced by members		–	(2,154)	(2,154)	(2,154)
Repayments of debt			–	–	–
	------------	------------	------------	------------	--------
Balance at 31 March 2026	(5,606,545)	(5,606,545)	5,634,026	5,634,026	27,481
	------------	------------	------------	------------	--------

Kilburn Lane LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 April 2024	(1,568,132)	(1,568,132)	5,633,651	5,633,651	4,065,519
Loss for the financial year available for discretionary division among members	(1,567,191)	(1,567,191)			(1,567,191)
	------------	------------	------------	------------	------------
Members' interests after loss for the year	(3,135,323)	(3,135,323)	5,633,651	5,633,651	2,498,328
Introduced by members		–	3,094	3,094	3,094
Repayments of debt			(565)	(565)	(565)
	------------	------------	------------	------------	------------
Balance at 31 March 2025	(3,135,323)	(3,135,323)	5,636,180	5,636,180	2,500,857
	------------	------------	------------	------------	------------

Kilburn Lane LLP

Notes to the Financial Statements

Year ended 31 March 2026

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Flat 4, 12 Ladboke Crescent, London, W11 1PS.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Going concern

These accounts have been prepared on a Going Concern basis. The members have considered the position and performance of the business and have evaluated the market conditions in which the LLP operates. The members have confirmed their intention and ability to provide financial support to the LLP for at least 12 months from the date of approval of the financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: a) No cash flow statement has been presented for the LLP. b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

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 statement of comprehensive income 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'.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Average number of employees

During the year the average number of employees was 0 (2024: 0).

5.	Debtors

	2026	2025
	£	£
Other debtors	67,678	90,478
	--------	--------

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	128,859	191,524
Loans	1,420,745	1,665,745
Other creditors	58,424	116,322
	------------	------------
	1,608,028	1,973,591
	------------	------------

7. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	3,018,773	4,815,872
Other creditors	–	14,169
	------------	------------
	3,018,773	4,830,041
	------------	------------

The bank loan is secured against the assets of the LLP.

8.	Loans and other debts due to members

	2026	2025
	£	£
Loans from members	5,634,026	5,636,180
	------------	------------

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