ADKE Holdings LLP - Accounts to registrar (filleted) - small 23.1.2

ADKE Holdings LLP - Accounts to registrar (filleted) - small 23.1.2

ADKE HOLDINGS LLP - Company Information

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IRIS Accounts Production v23.1.0.753 OC430909 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:pureOC4309092022-03-31OC4309092023-03-31OC4309092022-04-012023-03-31OC4309092021-03-31OC4309092021-04-012022-03-31OC4309092022-03-31OC430909ns15:EnglandWales2022-04-012023-03-31OC430909ns14:PoundSterling2022-04-012023-03-31OC430909ns10:Director12022-04-012023-03-31OC430909ns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC430909ns10:SmallEntities2022-04-012023-03-31OC430909ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC430909ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-31OC430909ns10:LimitedLiabilityPartnershipsSORP2022-04-012023-03-31OC430909ns10:FullAccounts2022-04-012023-03-31OC430909ns5:CurrentFinancialInstruments2023-03-31OC430909ns5:CurrentFinancialInstruments2022-03-31OC430909ns5:Non-currentFinancialInstruments2023-03-31OC430909ns5:Non-currentFinancialInstruments2022-03-31OC430909ns10:RegisteredOffice2022-04-012023-03-31OC430909ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC430909ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31OC430909ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31OC430909ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-31
REGISTERED NUMBER: OC430909 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ADKE HOLDINGS LLP
ADKE HOLDINGS LLP (REGISTERED NUMBER: OC430909)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


ADKE HOLDINGS LLP (REGISTERED NUMBER: OC430909)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,260,000 7,260,000

CURRENT ASSETS
Debtors 5 187,824 243,148
Cash at bank 1,954 17,665
189,778 260,813
CREDITORS
Amounts falling due within one year 6 1,693,133 1,682,749
NET CURRENT LIABILITIES (1,503,355 ) (1,421,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
5,756,645
5,838,064

CREDITORS
Amounts falling due after more than one
year
7
5,180,602
5,178,130
NET ASSETS ATTRIBUTABLE TO
MEMBERS
576,043
659,934

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
576,043
659,934

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 576,043 659,934

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 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 31 January 2024 and were signed by:



Mr A J Patel - Designated member

The notes form part of these financial statements

Page 1
ADKE HOLDINGS LLP (REGISTERED NUMBER: OC430909)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

ADKE Holdings LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC430909

Registered office: 1 Kings Avenue
London
N21 3NA

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.

Significant judgements and estimates
In the application of the LLP's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue represents the fair value of rental income chargeable in respect of the LLP's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 2 continued...
ADKE HOLDINGS LLP (REGISTERED NUMBER: OC430909)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

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
and 31 March 2023 7,260,000
NET BOOK VALUE
At 31 March 2023 7,260,000
At 31 March 2022 7,260,000

Investment property was valued on an open market basis on 31 March 2023 by the designated members.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 187,824 243,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,764 10,000
Trade creditors 3,330 3,210
Other creditors 1,686,039 1,669,539
1,693,133 1,682,749

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 5,180,602 5,178,130

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,139,195 5,139,195

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 576,043 659,934

Falling due within one year 576,043 659,934

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

Page 3