Key Conveyancing LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC380039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

FOR

KEY CONVEYANCING LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

DS Iles

J Punni

S Sgoluppi

JTW Turner

REGISTERED OFFICE:

St Edmunds House

St Edmunds Rd

Northampton

Northamptonshire

NN1 5DY

REGISTERED NUMBER:

OC380039 (England and Wales)

ACCOUNTANTS:

Bewers Turner & Co LLP

Chartered Accountants

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

FIXED ASSETS

Tangible assets

4

106,452

85,742

CURRENT ASSETS

Debtors

5

550,151

711,520

Cash at bank

669,381

1,523,612

1,219,532

2,235,132

CREDITORS

Amounts falling due within one year

6

499,393

579,252

NET CURRENT ASSETS

720,139

1,655,880

TOTAL ASSETS LESS CURRENT LIABILITIES

826,591

1,741,622

CREDITORS

Amounts falling due after more than one year

7

-

203,370

NET ASSETS ATTRIBUTABLE TO MEMBERS

826,591

1,538,252

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

826,591

1,538,252

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

826,591

1,538,252

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 2022.

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 28th September 2022 and were signed by:

JTW Turner - Designated member

DS Iles - Designated member

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost basis.

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 etc

-

25% on cost

Government grants

Income from government grants have been recognised using the accruals model. Grants received related to revenue have been recognised on a systematic basis over the period in which the entity has recognised the related cost. Grants received giving immediate financial support to the entity with no future related costs have been recognised in the period in which it became receivable.

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.

Financial instruments

The company is party to only basic financial instruments such as cash, trade debtors and creditors. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 97 (2021 - 63 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2021

206,269

Additions

59,759

At 31st March 2022

266,028

DEPRECIATION

At 1st April 2021

120,527

Charge for year

39,049

At 31st March 2022

159,576

NET BOOK VALUE

At 31st March 2022

106,452

At 31st March 2021

85,742

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

457,196

421,826

Other debtors

92,955

289,694

550,151

711,520

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

55,012

Trade creditors

124,516

135,606

Taxation and social security

341,084

377,071

Other creditors

33,793

11,563

499,393

579,252

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

203,370

8.	LEASING AGREEMENTS

At the year end the company had total commitments under operating leases expiring within 5 years of £280,956 (2021: £268,554).

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members would rank after all other creditors.

10.	ULTIMATE CONTROLLING PARTY

In the opinion of the members there is no individual controlling party.