WG Partners LLP - Accounts to registrar (filleted) - small 18.2
WG Partners LLP - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2019 |
| for |
| WG PARTNERS LLP |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WG PARTNERS LLP |
| General Information |
| for the Year Ended 31 March 2019 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Rosemount House |
| Rosemount Avenue |
| West Byfleet |
| Surrey |
| KT14 6LB |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Balance Sheet |
| 31 March 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
589,346 |
1,541,154 |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Balance Sheet - continued |
| 31 March 2019 |
| 31.3.19 | 31.3.18 |
| Notes | £ | £ | £ | £ |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
633,769 |
1,574,397 |
| MEMBERS' OTHER INTERESTS |
| Revaluation reserve | 11 | ( |
) | ( |
) |
| 589,346 | 1,541,154 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 10 | 633,769 | 1,574,397 |
| Members' other interests | (44,423 | ) | (33,243 | ) |
| Amounts due from members | 7 | (175,000 | ) | (175,000 | ) |
| 414,346 | 1,366,154 |
| 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. |
| 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 |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| WG 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. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about WG Partners LLP as an individual LLP and do not contain |
| consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 |
| of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) |
| (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements. |
| Turnover |
| Turnover comprises revenue recognised by the LLP in respect of goods and services supplied during the |
| year, exclusive of Value Added Tax and trade discounts. |
| Revenue is recognised on a work done basis. |
| Tangible fixed assets |
| Office equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| 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. |
| Listed investments |
| Listed investments held as fixed assets are shown at fair value, based on the market value at the balance |
| sheet date. |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| Other operating income |
| Other income comprises a share of profits from the subsidiary undertaking. The LLP recognises its full profit |
| share entitlement as the profit is earned, on a quarterly basis. |
| 4. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Office |
| equipment |
| £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Listed |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2018 | 59,733 |
| Revaluations | ( |
) | (11,180 | ) |
| At 31 March 2019 | 48,553 |
| NET BOOK VALUE |
| At 31 March 2019 | 48,553 |
| At 31 March 2018 | 59,733 |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 31 March 2019 is represented by: |
| Shares in |
| group | Listed |
| undertakings | investments | Totals |
| £ | £ | £ |
| Valuation in 2017 | 3 | - | 3 |
| Valuation in 2019 | - | 48,550 | 48,550 |
| 3 | 48,550 | 48,553 |
| If listed investments had not been revalued they would have been included at the following historical cost: |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Cost | 92,972 | 92,972 |
| 7. | DEBTORS |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Other creditors includes £50,254 (2018 £80,996) of accruals and deferred income. |
| WG PARTNERS LLP (REGISTERED NUMBER: OC369354) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 31.3.19 | 31.3.18 |
| £ | £ |
| Amounts owed to members in respect of profits | 633,769 | 1,574,397 |
| Falling due within one year | 633,769 | 1,574,397 |
| Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a |
| winding up. |
| There are no restrictions on the ability of members to reduce the amount of members' other interests. |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2018 | ( |
) |
| Fair value movement on investm |
| ents | ( |
) |
| At 31 March 2019 | ( |
) |
| 12. | MEMBERS ADVANCES, CREDIT AND GUARANTEES |
| Other debtors includes an interest free, repayable upon demand, loan to Saffron Partners Limited of |
| £175,000 (2018: £175,000). |