Kingsglade LLP - Accounts to registrar (filleted) - small 18.2

Kingsglade LLP - Accounts to registrar (filleted) - small 18.2

KINGSGLADE LLP - Company Information

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Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Kingsglade LLP
Kingsglade LLP (Registered number: OC346236)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kingsglade LLP

General Information
for the Year Ended 31 March 2020







DESIGNATED MEMBERS: Exel Construction Limited
J M Tanner
Mrs M L Head





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: OC346236 (England and Wales)





ACCOUNTANTS: Williams & Co
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF
Page 1
Kingsglade LLP (Registered number: OC346236)

Balance Sheet
31 March 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Stocks 191,772 170,822
Cash at bank 215 19,795
191,987 190,617
CREDITORS
Amounts falling due within one year 4 180,827 147,640
NET CURRENT ASSETS 11,160 42,977
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
11,160
42,977

LOANS AND OTHER DEBTS DUE TO
MEMBERS
5
11,160
42,977

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 11,160 42,977

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

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 December 2020 and were signed by:





Exel Construction Limited - Designated member

The notes form part of these financial statements

Page 2
Kingsglade LLP (Registered number: OC346236)

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

1. STATUTORY INFORMATION

Kingsglade LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEE INFORMATION

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

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 1 -
Other creditors 158,898 146,212
Loan: Tanner 10,000 -
Loan: Head 10,000 -
Accrued expenses 1,928 1,428
180,827 147,640

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other company creditors.

6. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £158,898 (2019: £146,212) payable to Exel Construction Ltd a member of the LLP.

Page 3