J & P Kotecha LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC412299 (England and Wales)

Financial Statements

for the Period

14 June 2016 to 30 June 2017

for

J & P Kotecha LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs P Kotecha

Mr J Kotecha

REGISTERED OFFICE:

28 Church Road

Stanmore

Middlesex

HA7 4XR

REGISTERED NUMBER:

OC412299 (England and Wales)

ACCOUNTANTS:

Linkca Business Solutions Ltd

Chartered Accountants

28 Church Road

London

HA7 4XR

FIXED ASSETS

Investment property

4

3,650,000

CURRENT ASSETS

Cash at bank

30,011

CREDITORS

Amounts falling due within one year

5

(936

)

NET CURRENT ASSETS

29,075

TOTAL ASSETS LESS CURRENT LIABILITIES

3,679,075

CREDITORS

Amounts falling due after more than one year

6

(1,790,735

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,888,340

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

1,888,340

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

1,888,340

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 period ended 30 June 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 8 February 2018 and were signed by:

Mr J Kotecha - Designated member

1.	STATUTORY INFORMATION

J & P Kotecha 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 as modified by the revaluation of certain assets.

Turnover

Rents receivable is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Investment property

The investment properties are stated at their open market values. Valuations are done by the

members with the assistance of independent professional advice as required. Surplus arising on

revaluation is taken to the revaluation reserve. Any deficit arising on revaluation is taken to the

revaluation reserve to the extent of any previous reserve created on revaluation and any difference

taken to the profit and loss account. No depreciation is provided in respect of these properties. The

members consider that this policy results in the accounts giving a true and fair value.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 1 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

3,485,550

Revaluations

164,450

At 30 June 2017

3,650,000

NET BOOK VALUE

At 30 June 2017

3,650,000

Fair value at 30 June 2017 is represented by:

£

Valuation in 2017

164,450

Cost

3,485,550

3,650,000

If the investment properties had not been revalued they would have been included at the following

historical cost:

£

Cost

3,485,550

The investment properties were valued on an open market basis on 30 June 2017 by the members. .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

936

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,790,735

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to Members rank pari passu with other unsecured creditors in the event of

a winding up of the LLP. There are no restrictions on the ability of the Members to reduce the amount

of Members' other interests.