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 2021

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

85,742

41,728

CURRENT ASSETS

Debtors

5

711,520

309,136

Cash at bank

1,523,612

484,763

2,235,132

793,899

CREDITORS

Amounts falling due within one year

6

579,252

386,664

NET CURRENT ASSETS

1,655,880

407,235

TOTAL ASSETS LESS CURRENT LIABILITIES

1,741,622

448,963

CREDITORS

Amounts falling due after more than one year

7

203,370

-

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,538,252

448,963

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

1,538,252

448,963

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

1,538,252

448,963

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 9th July 2021 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

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 63 (2020 - 53 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2020

137,151

Additions

69,118

At 31st March 2021

206,269

DEPRECIATION

At 1st April 2020

95,423

Charge for year

25,104

At 31st March 2021

120,527

NET BOOK VALUE

At 31st March 2021

85,742

At 31st March 2020

41,728

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

421,826

122,020

Other debtors

289,694

187,116

711,520

309,136

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

55,012

146,454

Trade creditors

135,606

30,027

Taxation and social security

377,071

192,892

Other creditors

11,563

17,291

579,252

386,664

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

203,370

-

8.	LEASING AGREEMENTS

At the year end the company had total commitments under operating leases expiring within 5 years of £268,554 (2020: £180,902).

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.