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

REGISTERED NUMBER: OC358956 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

KKVMS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr A N Khanbhai F.C.C.A

Mr H Khanbhai F.C.C.A

Mr Q A Khanbhai C.G.M.A

REGISTERED OFFICE:

Capital Tower

91 Waterloo Road

London

SE1 8RT

REGISTERED NUMBER:

OC358956 (England and Wales)

ACCOUNTANTS:

KKVMS LLP

Chartered Certified Accountants

Capital Tower

91 Waterloo Road

London

SE1 8RT

FIXED ASSETS

Tangible assets

4

693,921

695,318

Investments

5

-

5,000

693,921

700,318

CURRENT ASSETS

Debtors

6

305,298

623,348

Prepayments and accrued income

61,305

35,454

Cash at bank

351,974

259,267

718,577

918,069

CREDITORS

Amounts falling due within one year

7

361,601

448,218

NET CURRENT ASSETS

356,976

469,851

TOTAL ASSETS LESS CURRENT LIABILITIES

1,050,897

1,170,169

CREDITORS

Amounts falling due after more than one year

8

711,526

470,637

NET ASSETS ATTRIBUTABLE TO MEMBERS

339,371

699,532

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

339,371

699,532

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

339,371

699,532

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 30 June 2021.

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 2021 and were signed by:

Mr A N Khanbhai F.C.C.A - Designated member

Mr H Khanbhai F.C.C.A - Designated member

1.	STATUTORY INFORMATION

KKVMS 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery at 20% per annum

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 12 (2020 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

674,570

96,591

771,161

Additions

17,924

-

17,924

Disposals

-

(53,854

)

(53,854

)

At 30 June 2021

692,494

42,737

735,231

DEPRECIATION

At 1 July 2020

-

75,843

75,843

Charge for year

-

19,317

19,317

Eliminated on disposal

-

(53,850

)

(53,850

)

At 30 June 2021

-

41,310

41,310

NET BOOK VALUE

At 30 June 2021

692,494

1,427

693,921

At 30 June 2020

674,570

20,748

695,318

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2020

5,000

Disposals

(5,000

)

At 30 June 2021

-

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

5,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

45,511

363,561

Other debtors

259,787

259,787

305,298

623,348

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

74,263

40,377

Taxation and social security

68,338

134,841

Other creditors

219,000

273,000

361,601

448,218

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

326,000

67,705

Other creditors

385,526

402,932

711,526

470,637

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank Loan

385,526

402,932

The bank loan is secured by a legal mortgage and fixed and floating charge on the Company's assets.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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