Kelaty Residential Properties LLP - Accounts to registrar (filleted) - small 23.2.5

Kelaty Residential Properties LLP - Accounts to registrar (filleted) - small 23.2.5

KELATY RESIDENTIAL PROPERTIES LLP - Company Information

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IRIS Accounts Production v23.3.0.418 OC338360 designated member 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3383602022-03-31OC3383602023-03-31OC3383602022-04-012023-03-31OC3383602021-03-31OC3383602021-04-012022-03-31OC3383602022-03-31OC338360ns16:EnglandWales2022-04-012023-03-31OC338360ns15:PoundSterling2022-04-012023-03-31OC338360ns11:Director12022-04-012023-03-31OC338360ns11:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC338360ns11:SmallEntities2022-04-012023-03-31OC338360ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC338360ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31OC338360ns11:LimitedLiabilityPartnershipsSORP2022-04-012023-03-31OC338360ns11:FullAccounts2022-04-012023-03-31OC338360ns11:Director22022-04-012023-03-31OC338360ns11:RegisteredOffice2022-04-012023-03-31OC338360ns6:CurrentFinancialInstruments2023-03-31OC338360ns6:CurrentFinancialInstruments2022-03-31OC338360ns6:Non-currentFinancialInstruments2023-03-31OC338360ns6:Non-currentFinancialInstruments2022-03-31OC338360ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31OC338360ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31OC338360ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-03-31OC338360ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: OC338360 (England and Wales)











Financial Statements

for the Year Ended 31 March 2023

for

KELATY RESIDENTIAL PROPERTIES LLP
KELATY RESIDENTIAL PROPERTIES LLP (REGISTERED NUMBER: OC338360)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KELATY RESIDENTIAL PROPERTIES LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Ms S Kelaty
F S Kelaty





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: OC338360 (England and Wales)





ACCOUNTANTS: JLA (UK) Ltd
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY
Page 1
KELATY RESIDENTIAL PROPERTIES LLP (REGISTERED NUMBER: OC338360)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 8,049,210 3,704,910

CURRENT ASSETS
Debtors 5 365,000 366,468
Cash at bank 58,778 83,412
423,778 449,880
CREDITORS
Amounts falling due within one year 6 153,029 153,030
NET CURRENT ASSETS 270,749 296,850
TOTAL ASSETS LESS CURRENT
LIABILITIES
8,319,959
4,001,760

CREDITORS
Amounts falling due after more than one year 7 3,677,591 3,766,091
NET ASSETS ATTRIBUTABLE TO MEMBERS 4,642,368 235,669

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
4,642,368
235,669

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 4,642,368 235,669
Amounts due from members 5 - (1,468 )
4,642,368 234,201

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 31 March 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 notes form part of these financial statements

Page 2 continued...
KELATY RESIDENTIAL PROPERTIES LLP (REGISTERED NUMBER: OC338360)

Balance Sheet - continued
31 March 2023


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 24 December 2023 and were signed by:





F S Kelaty - Designated member

The notes form part of these financial statements

Page 3
KELATY RESIDENTIAL PROPERTIES LLP (REGISTERED NUMBER: OC338360)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Kelaty Residential Properties 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 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 represents rent receivable, excluding value added tax. Rental income is recognised evenly over the life of the lease agreement.

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 NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,704,910
Additions 4,344,300
At 31 March 2023 8,049,210
NET BOOK VALUE
At 31 March 2023 8,049,210
At 31 March 2022 3,704,910

The members does not believe that the valuation of the investment properties are materially different to the cost at 31 March 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 365,000 365,000
Other debtors - 1,468
365,000 366,468

Page 4 continued...
KELATY RESIDENTIAL PROPERTIES LLP (REGISTERED NUMBER: OC338360)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 88,500 88,500
Amounts owed to group undertakings 23,693 23,693
Other creditors 40,836 40,837
153,029 153,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 3,027,591 3,116,091
Amounts owed to participating interests 650,000 650,000
3,677,591 3,766,091

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,693,777 2,782,277

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu in relation to all other creditors.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the LLP owed £650,000 (2022: £650,000) to Asiatic Carpets (Greenwood Place) Ltd which is a related party by virtue that they are under the common control of the designated members.

Page 5