316-324 Kensal Road LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC425768 (England and Wales)

316-324 Kensal Road LLP

Unaudited Financial Statements

for the Year Ended 31st March 2021

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Designated members:

Milematic Limited

Mr I W Oliver

Mrs B Oliver

Mr R L Underwood

Registered office:

Clandon Regis

The Street

West Clandon

Surrey

GU4 7SU

Registered number:

OC425768 (England and Wales)

Accountants:

Wilson Stevens

Accountants

4th Floor

100 Fenchurch Street

London

EC3M 5JD

Fixed assets

Tangible assets

4

2,108

-

Investment property

5

2,116,235

1,898,468

2,118,343

1,898,468

Current assets

Debtors

6

4,382

206,589

Cash at bank

36,641

102,900

41,023

309,489

Creditors

Amounts falling due within one year

7

858,455

874,728

Net current liabilities

(817,432

)

(565,239

)

Total assets less current liabilities

and

Net assets attributable to members

1,300,911

1,333,229

Loans and other debts due to members

8

1,300,911

1,333,229

Total members' interests

Loans and other debts due to members

8

1,300,911

1,333,229

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 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 21st December 2021 and were signed by:

Mr I W Oliver - Designated member

1.	Statutory information

316-324 Kensal Road 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 the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

20% 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.

3.	Employee information

The average number of employees during the year was 3 (2020 - 3 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

Additions

2,636

At 31st March 2021

2,636

Depreciation

Charge for year

528

At 31st March 2021

528

Net book value

At 31st March 2021

2,108

5.	Investment property

Total

£

Fair value

At 1st April 2020

1,898,468

Additions

217,767

At 31st March 2021

2,116,235

Net book value

At 31st March 2021

2,116,235

At 31st March 2020

1,898,468

6.

Debtors: amounts falling due within one year

2021

2020

£

£

Other debtors

4,382

206,589

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

170

95,848

Taxation and social security

7,141

-

Other creditors

851,144

778,880

858,455

874,728

8.

Loans and other debts due to members

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