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Unaudited Financial Statements for the Year Ended 5 April 2020 |
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A. Kain & Partners LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 5 April 2020 |
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for |
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A. Kain & Partners LLP |
A. Kain & Partners LLP (Registered number: OC412518) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2020 |
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General Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A. Kain & Partners LLP |
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General Information |
for the Year Ended 5 April 2020 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Rural Enterprise Centre |
Vincent Carey Road |
Rotherwas |
Hereford |
Herefordshire |
HR2 6FE |
A. Kain & Partners LLP (Registered number: OC412518) |
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Abridged Balance Sheet |
5 April 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
59,121 |
56,742 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
6 |
59,121 |
56,742 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 59,121 | 56,742 |
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The members acknowledge their responsibilities for: |
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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. |
A. Kain & Partners LLP (Registered number: OC412518) |
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Abridged Balance Sheet - continued |
5 April 2020 |
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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 Profit and Loss Account has not been delivered. |
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The financial statements were approved by the members of the LLP and authorised for issue on
were signed by: |
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A. Kain & Partners LLP (Registered number: OC412518) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2020 |
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1. | STATUTORY INFORMATION |
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A. Kain & Partners LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme |
are charged to profit or loss in the period to which they relate. |
A. Kain & Partners LLP (Registered number: OC412518) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2020 |
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3. | ACCOUNTING POLICIES - continued |
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Members' participation rights |
Members' participation rights are the rights of a member against the LLP that arise under the members' |
agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits). |
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Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the |
LLP's perspective, either a financial liability or equity.. A member's participation rights results in a liability |
unless the right to any payment is discretionary on the part of the LLP. |
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Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if |
the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an |
unconditional right, such amounts are classified as liabilities. |
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Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse |
payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as |
an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year |
end, they are shown as liabilities in the Balance Sheet. |
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Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has |
an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an |
expense. They are therefore shown as a residual amount available for discretionary division among members in |
the Profit and Loss Account and are equity appropriations in the Balance Sheet. |
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Other amounts applied to members, for example remuneration paid under an employment contract and interest |
on capital balances, are treated in the same way as all other divisions of profits, as described above, according to |
whether the LLP has, in each case, an unconditional right to refuse payment. |
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All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and |
other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration |
charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet |
within 'Members' other interests'. |
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4. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 6 April 2019 | 1,607 |
Additions | 750 |
Adjusment | (803 | ) |
At 5 April 2020 | 1,554 |
NET BOOK VALUE |
At 5 April 2020 | 1,554 |
At 5 April 2019 | 1,607 |
A. Kain & Partners LLP (Registered number: OC412518) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2020 |
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6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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Loans and other debts due to members' are only payable after all other liabilities have been settled. |