PK3 Agency LLP - LLP accounts 23.2

REGISTERED NUMBER: OC432272 (England and Wales)

PK3 Agency LLP

Report of the Members and

Unaudited Financial Statements

for the Year Ended 30 June 2023

Page

General information

1

Report of the members

2

Income statement

3

Balance sheet

4

Notes to the financial statements

6

Designated members:

M R I Powell

J B Kinsler

Registered office:

Canada House

Chepstow Street South

Manchester

M1 5FW

Registered number:

OC432272 (England and Wales)

Accountants:

Warr & Co Limited

Chartered Accountants

Mynshull House

78 Churchgate

Stockport

Cheshire

SK1 1YJ

The members present their report with the financial statements of the LLP for the year ended 30 June 2023.

Principal activity

The principal activity of the LLP in the year under review was that of Real Estate Agency

Designated members

The designated members during the year under review were:

M R I Powell

J B Kinsler

Results for the year and allocation to members

The profit for the year before members' remuneration and profit shares was £1,124,745 (2022 - £560,903 profit).

Members' interests

There were no members' subscriptions nor repayments of capital during the period.

On behalf of the members:

M R I Powell - Designated member

19 September 2023

Turnover

1,413,551

932,341

Cost of sales

14,875

73,860

Gross profit

1,398,676

858,481

Administrative expenses

273,931

297,578

Operating profit and

Profit for the financial year before members' remuneration and profit shares available for discretionary division among members

1,124,745

560,903

Fixed assets

Tangible assets

5

8,596

13,660

Current assets

Debtors

6

18,535

181,960

Cash at bank and in hand

76,684

120,879

95,219

302,839

Creditors

Amounts falling due within one year

7

42,635

91,122

Net current assets

52,584

211,717

Total assets less current liabilities

and

Net assets attributable to members

61,180

225,377

Loans and other debts due to members

61,180

225,377

Total members' interests

Loans and other debts due to members

61,180

225,377

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 2023.

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 19 September 2023 and were signed by:

M R I Powell - Designated member

J B Kinsler - Designated member

1.	Statutory information

PK3 Agency 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 etc

-

33% on cost and 20% on cost

3.	Employee information

The average number of employees during the year was 2 (2022 - 2 ) .

4.	Operating profit

The operating profit is stated after charging:

30.6.23

30.6.22

£

£

Depreciation - owned assets

10,041

6,251

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 July 2022

22,575

Additions

4,977

At 30 June 2023

27,552

Depreciation

At 1 July 2022

8,915

Charge for year

10,041

At 30 June 2023

18,956

Net book value

At 30 June 2023

8,596

At 30 June 2022

13,660

6.

Debtors: amounts falling due within one year

30.6.23

30.6.22

£

£

Trade debtors

2,400

170,707

Other debtors

16,135

11,253

18,535

181,960

7.

Creditors: amounts falling due within one year

30.6.23

30.6.22

£

£

Trade creditors

674

1,769

Taxation and social security

38,191

85,883

Other creditors

3,770

3,470

42,635

91,122