KJ2 Futures LLP - Accounts to registrar (filleted) - small 18.2

KJ2 Futures LLP - Accounts to registrar (filleted) - small 18.2

KJ2 FUTURES LLP - Company Information

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REGISTERED NUMBER: OC346490 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2020

for

KJ2 Futures LLP
KJ2 Futures LLP (Registered number: OC346490)






Contents of the Financial Statements
for the Year Ended 31st March 2020




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


KJ2 Futures LLP (Registered number: OC346490)

Abridged Balance Sheet
31st March 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 48,893 13,340
Investments 6 177,750 401,483
Investment property 7 358,098 358,098
584,741 772,921

CURRENT ASSETS
Debtors 6,317 29,290
Cash at bank 258,440 159,052
264,757 188,342
CREDITORS
Amounts falling due within one year 14,475 8,185
NET CURRENT ASSETS 250,282 180,157
TOTAL ASSETS LESS CURRENT
LIABILITIES
835,023
953,078

CREDITORS
Amounts falling due after more than one year 30,402 -
NET ASSETS ATTRIBUTABLE TO
MEMBERS
804,621
953,078

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
804,621
953,078

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 804,621 953,078

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 31st March 2020.

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 notes form part of these financial statements

Page 1 continued...
KJ2 Futures LLP (Registered number: OC346490)

Abridged Balance Sheet - continued
31st March 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2020 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18th January 2021 and were signed by:





Mr. K A Jones - Designated member

The notes form part of these financial statements

Page 2
KJ2 Futures LLP (Registered number: OC346490)

Notes to the Financial Statements
for the Year Ended 31st March 2020

1. STATUTORY INFORMATION

KJ2 Futures LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC346490

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - NIL).

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KJ2 Futures LLP (Registered number: OC346490)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2020

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2019 62,612
Additions 52,500
At 31st March 2020 115,112
DEPRECIATION
At 1st April 2019 49,272
Charge for year 16,947
At 31st March 2020 66,219
NET BOOK VALUE
At 31st March 2020 48,893
At 31st March 2019 13,340

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 52,500
At 31st March 2020 52,500
NET BOOK VALUE
At 31st March 2020 52,500

6. FIXED ASSET INVESTMENTS

The amount included as a fixed asset investments represents the company's capital account outstanding as at the balance sheet date in Kondor Management LLP and LKM Finance LLP.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2019
and 31st March 2020 358,098
NET BOOK VALUE
At 31st March 2020 358,098
At 31st March 2019 358,098

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

The balances shown above would rank below unsecured creditors from the proceeds of a winding-up of the LLP.

9. ULTIMATE CONTROLLING PARTY

During the year, the company was under the control of the designated member, Mr K A Jones, by virtue of his control of the designated members.

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