Kalistar LLP - Accounts to registrar (filleted) - small 18.2

Kalistar LLP - Accounts to registrar (filleted) - small 18.2

KALISTAR LLP - Company Information

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REGISTERED NUMBER: OC313116 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2021

for

Kalistar LLP
Kalistar LLP (Registered number: OC313116)






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kalistar LLP

General Information
for the Year Ended 31 March 2021







DESIGNATED MEMBERS: W R Farmer
S E H Nutley





REGISTERED OFFICE: 2 The Bower
Langford Hall
Witham Road
Maldon
Essex
CM9 4ST





REGISTERED NUMBER: OC313116 (England and Wales)





ACCOUNTANTS: Fisher Michael Chartered Accountants
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
Page 1
Kalistar LLP (Registered number: OC313116)

Balance Sheet
31 March 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 950,000 900,000

CURRENT ASSETS
Debtors 5 1,510 -
Cash at bank 33,749 28,461
35,259 28,461
CREDITORS
Amounts falling due within one year 6 13,545 10,300
NET CURRENT ASSETS 21,714 18,161
TOTAL ASSETS LESS CURRENT
LIABILITIES
971,714
918,161

CREDITORS
Amounts falling due after more than one
year
7
255,518
268,068
NET ASSETS ATTRIBUTABLE TO
MEMBERS
716,196
650,093

LOANS AND OTHER DEBTS DUE TO
MEMBERS
9
276,696
260,593

MEMBERS' OTHER INTERESTS
Capital accounts 439,500 389,500
716,196 650,093

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 276,696 260,593
Members' other interests 439,500 389,500
716,196 650,093

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 2021.

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...
Kalistar LLP (Registered number: OC313116)

Balance Sheet - continued
31 March 2021


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 October 2021 and were signed by:





W R Farmer - Designated member

The notes form part of these financial statements

Page 3
Kalistar LLP (Registered number: OC313116)

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Kalistar 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 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 as modified by the revaluation of certain assets.

Investment property
The investment property is included at fair value. Gains are recognised in the income statement and subsequently transferred to the members' capital accounts.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2020 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2020 900,000
Revaluations 50,000
At 31 March 2021 950,000
NET BOOK VALUE
At 31 March 2021 950,000
At 31 March 2020 900,000

Fair value at 31 March 2021 is represented by:
£   
Valuation in 2020 385,000
Valuation in 2021 50,000
Cost 515,000
950,000

If the investment property had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 515,000 515,000

The investment property was valued on a fair value basis on 31 March 2021 by the members .

Page 4 continued...
Kalistar LLP (Registered number: OC313116)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,510 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,500 8,500
Other creditors 3,045 1,800
13,545 10,300

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 255,518 268,068

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 211,768 232,318

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 266,018 276,568

The loan is secured by way of fixed charges over land and property at 99 Main Road Danbury. By way of fixed charge the benefit of all covenants and rights concerning the property and plant, machinery, fixtures, fittings, furniture, equipment, implements and utensils, the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or assets.

There is a further fixed and floating charge over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital buildings, fixtures, plant and machinery.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of the Limited Liability Partnership being wound up, all unsecured creditors would rank equally. There is no provision for specific legal enforceable protection afforded to creditors in such an event. There are no restrictions or limitations that exist on the members to reduce the 'Members other interest'.

Page 5