K L Invest LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC396951 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2017

for

K L Invest LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R Dhir

R Dhir

REGISTERED OFFICE:

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

REGISTERED NUMBER:

OC396951 (England and Wales)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Tangible assets

4

15,148

-

Investment property

5

6,235,000

6,685,000

6,250,148

6,685,000

CURRENT ASSETS

Cash at bank

12,409

18,185

CREDITORS

Amounts falling due within one year

6

(279,413

)

(163,616

)

NET CURRENT LIABILITIES

(267,004

)

(145,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,983,144

6,539,569

CREDITORS

Amounts falling due after more than one year

7

(1,923,767

)

(2,134,538

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,059,377

4,405,031

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

4,059,377

4,405,031

4,059,377

4,405,031

TOTAL MEMBERS' INTERESTS

Members' other interests

4,059,377

4,405,031

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 2017.

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 of Part 15 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 small LLPs.

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 on 11 December 2017 and were signed by:

R Dhir - Designated member

R Dhir - Designated member

1.	STATUTORY INFORMATION

K L Invest 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 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Current liabilities exceed current assets, however, the financial statements have been prepared on a going concern basis as

they assume the continued support of the members.

Turnover

Turnover represents rents received excluding value added tax.

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 reducing balance

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.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

20,198

At 5 April 2017

20,198

DEPRECIATION

Charge for year

5,050

At 5 April 2017

5,050

NET BOOK VALUE

At 5 April 2017

15,148

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2016

6,685,000

Disposals

(450,000

)

At 5 April 2017

6,235,000

NET BOOK VALUE

At 5 April 2017

6,235,000

At 5 April 2016

6,685,000

Investment property is shown at most recent fair value as determined by the designated members.

During the period under review, rents and service charges derived from the investment property totalled £315,437 (2016:

£323,762) as is disclosed under other operating income.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.17

5.4.16

£

£

Bank loans and overdrafts

274,318

161,674

Hire purchase contracts

3,800

-

VAT

1,118

1,628

Other creditors

177

314

279,413

163,616

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.17

5.4.16

£

£

Bank loans - 1-2 years

299,256

161,674

Bank loans - 2-5 years

294,353

473,512

Bank loans more 5 yr by instal

1,325,092

1,499,352

Hire purchase contracts

5,066

-

1,923,767

2,134,538

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,325,092

1,499,352

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.17

5.4.16

£

£

Bank loans

2,041,178

2,296,212

Security is provided by way of fixed charges against investment property.

9.	RELATED PARTY DISCLOSURES

10.

CURRENCY

The LLP's functional and presentation currency is pounds sterling.

11.	TRANSITION TO FRS102

This is the first year that the company has presented its results under FRS 102. The last financial statements under the UK

GAAP were for the year ended 31 March 2016. The date of transition to FRS102 was 1 April 2015 and no transition

adjustments were required.