Westcore UK LLP - Accounts to registrar (filleted) - small 18.2

Westcore UK LLP - Accounts to registrar (filleted) - small 18.2

WESTCORE UK LLP - Company Information

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IRIS Accounts Production v22.2.0.402 OC358292 designated member 1.1.21 31.12.21 31.12.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3582922020-12-31OC3582922021-12-31OC3582922021-01-012021-12-31OC3582922019-12-31OC3582922020-01-012020-12-31OC3582922020-12-31OC358292ns16:EnglandWales2021-01-012021-12-31OC358292ns15:PoundSterling2021-01-012021-12-31OC358292ns11:Director12021-01-012021-12-31OC358292ns11:LimitedLiabilityPartnershipLLP2021-01-012021-12-31OC358292ns11:SmallEntities2021-01-012021-12-31OC358292ns11:AuditExemptWithAccountantsReport2021-01-012021-12-31OC358292ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31OC358292ns11:LimitedLiabilityPartnershipsSORP2021-01-012021-12-31OC358292ns11:FullAccounts2021-01-012021-12-31OC35829212021-01-012021-12-31OC358292ns11:Director22021-01-012021-12-31OC358292ns11:RegisteredOffice2021-01-012021-12-31OC358292ns6:CurrentFinancialInstruments2021-12-31OC358292ns6:CurrentFinancialInstruments2020-12-31OC358292ns6:ComputerSoftware2021-01-012021-12-31OC358292ns6:PlantMachinery2021-01-012021-12-31OC358292ns6:IntangibleAssetsOtherThanGoodwill2020-12-31OC358292ns6:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-31OC358292ns6:IntangibleAssetsOtherThanGoodwill2021-12-31OC358292ns6:IntangibleAssetsOtherThanGoodwill2020-12-31OC358292ns6:PlantMachinery2020-12-31OC358292ns6:PlantMachinery2021-12-31OC358292ns6:PlantMachinery2020-12-31OC358292ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31OC358292ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: OC358292 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2021

for

WESTCORE UK LLP
WESTCORE UK LLP (REGISTERED NUMBER: OC358292)

Contents of the Financial Statements
for the year ended 31 December 2021










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

WESTCORE UK LLP

General Information
for the year ended 31 December 2021







Designated members: Eurocore LLC
Westcore Marylebone LLC





Registered office: Aissela
46 High Street
Esher
Surrey
KT10 9QY





Registered number: OC358292 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY
Page 1
WESTCORE UK LLP (REGISTERED NUMBER: OC358292)

Balance Sheet
31 December 2021

2021 2020
Notes £ £ £ £
Fixed assets
Intangible assets 4 - 363
Tangible assets 5 5,031 4,275
5,031 4,638

Current assets
Debtors 6 381,707 464,838
Cash at bank 88,621 53,703
470,328 518,541
Creditors
Amounts falling due within one year 7 407,936 457,948
Net current assets 62,392 60,593
Total assets less current liabilities
and
Net assets attributable to members 67,423 65,231

Loans and other debts due to members 8 42,923 40,731

Members' other interests
Capital accounts 24,500 24,500
67,423 65,231

Total members' interests
Loans and other debts due to members 8 42,923 40,731
Members' other interests 24,500 24,500
67,423 65,231

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 December 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
WESTCORE UK LLP (REGISTERED NUMBER: OC358292)

Balance Sheet - continued
31 December 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 12 October 2022 and were signed by:





Eurocore LLC - Designated member

The notes form part of these financial statements

Page 3
WESTCORE UK LLP (REGISTERED NUMBER: OC358292)

Notes to the Financial Statements
for the year ended 31 December 2021


1. Statutory information

Westcore UK 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the LLP in respect of management services supplied during the year, exclusive of Value Added Tax.

Intangible fixed assets
Intangible assets are valued at cost lest accumulated amortisation. Amortisation is calculated to write off cost in equal annual instalments over their estimated useful lives. Software licences are amortised on a straight line basis over five years.

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 - 33% on cost and 25% on 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.

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.

3. Employee information

The average number of employees during the year was 4 (2020 - 4 ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
At 1 January 2021
and 31 December 2021 11,570
Amortisation
At 1 January 2021 11,207
Charge for year 363
At 31 December 2021 11,570
Net book value
At 31 December 2021 -
At 31 December 2020 363

Page 4
WESTCORE UK LLP (REGISTERED NUMBER: OC358292)

Notes to the Financial Statements - continued
for the year ended 31 December 2021


5. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 January 2021 18,610
Additions 3,885
At 31 December 2021 22,495
Depreciation
At 1 January 2021 14,335
Charge for year 3,129
At 31 December 2021 17,464
Net book value
At 31 December 2021 5,031
At 31 December 2020 4,275

6. Debtors: amounts falling due within one year
2021 2020
£ £
Trade debtors 146,021 196,916
Other debtors 235,686 267,922
381,707 464,838

7. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 4,467 25,249
Taxation and social security 48,223 94,388
Other creditors 355,246 338,311
407,936 457,948

8. Loans and other debts due to members

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up.

9. Related party disclosures

The LLP is related to a company incorporated in the USA, by virtue of common control. During the year the LLP charged a management fee of £202,000 (2020 - £95,400 ) to this entity for management services provided and this is included in turnover.

Page 5
Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Westcore UK LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Westcore UK LLP for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Westcore UK LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westcore UK LLP and state those matters that we have agreed to state to the members of Westcore UK LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westcore UK LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Westcore UK LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westcore UK LLP. You consider that Westcore UK LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westcore UK LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY


12 October 2022

This page does not form part of the statutory financial statements

Page 6