Kimpton Developments LLP - LLP accounts 20.1

REGISTERED NUMBER: OC354285 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 5 April 2021

for

Kimpton Developments LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

to

5

Notes to the Financial Statements

6

to

8

DESIGNATED MEMBERS:

J D Kimpton

Mrs H L Kimpton

REGISTERED OFFICE:

Laurel House

Church Street

Welford on Avon

Stratford on Avon

Warwickshire

CV37 8EJ

REGISTERED NUMBER:

OC354285 (England and Wales)

ACCOUNTANTS:

Astute Services Ltd

44-46 Regent Street

Rugby

Warwickshire

CV21 2PS

The members present their report with the financial statements of the LLP for the year ended 5 April 2021.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of Property Development.

DESIGNATED MEMBERS

The designated members during the year under review were:

J D Kimpton

Mrs H L Kimpton

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £146,450 (2020 - £102,282 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

J D Kimpton - Designated member

9 August 2021

TURNOVER

475,388

354,483

Cost of sales

280,950

199,219

GROSS PROFIT

194,438

155,264

Administrative expenses

45,714

52,299

148,724

102,965

Other operating income

1,549

-

OPERATING PROFIT

4

150,273

102,965

Interest payable and similar expenses

3,823

683

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

146,450

102,282

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

146,450

102,282

FIXED ASSETS

Tangible assets

5

116,000

107,850

CURRENT ASSETS

Debtors

6

39,599

1,483

Cash at bank

50,777

171,442

90,376

172,925

CREDITORS

Amounts falling due within one year

7

105,758

119,376

NET CURRENT (LIABILITIES)/ASSETS

(15,382

)

53,549

TOTAL ASSETS LESS CURRENT
LIABILITIES

100,618

161,399

CREDITORS

Amounts falling due after more than one year

8

100,618

87,828

NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

73,571

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

73,571

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

-

73,571

Amounts due from members

6

(22,965

)

-

(22,965

)

73,571

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 5 April 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 9 August 2021 and were signed by:

J D Kimpton - Designated member

1.	STATUTORY INFORMATION

Kimpton Developments 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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2020 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

5/4/21

5/4/20

£

Depreciation - owned assets

14,732

14,616

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2020

148,444

Additions

27,084

Disposals

(24,268

)

At 5 April 2021

151,260

DEPRECIATION

At 6 April 2020

40,594

Charge for year

14,732

Eliminated on disposal

(20,066

)

At 5 April 2021

35,260

NET BOOK VALUE

At 5 April 2021

116,000

At 5 April 2020

107,850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/21

5/4/20

£

Other debtors

39,599

1,483

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/21

5/4/20

£

Bank loans and overdrafts

14,076

11,106

Trade creditors

30,101

41,247

Taxation and social security

38,302

27,725

Other creditors

23,279

39,298

105,758

119,376

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

5/4/21

5/4/20

£

Bank loans

100,618

87,828

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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