WP Wealth Management LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC368298 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2024

for

WP Wealth Management LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

A W Ross

I T G Hopes

REGISTERED OFFICE:

c/o Wilson Partners Limited

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

REGISTERED NUMBER:

OC368298 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

CURRENT ASSETS

Debtors

4

48,127

48,938

Cash at bank

336

404

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

48,463

49,342

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

48,463

49,342

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

48,463

49,342

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 5 April 2024.

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 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 22 April 2024 and were signed by:

A W Ross - Designated member

I T G Hopes - Designated member

1.	STATUTORY INFORMATION

WP Wealth Management 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.	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.

Significant judgements and estimates

In the application of the LLP's accounting policies the members are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The LLP does not make significant estimates and assumptions concerning the future which affect the reported position shown in the accounts.

Turnover

Turnover relates to income earned in respect of financial services and comprises initial fees and commission receivable at the outset of a policy, renewal commission receivable on regular contributions, trail commission based on funds under management and ongoing adviser charges. Income is recognised when the company has the right to consideration.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value where the fair value can be established reliably, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.24

5.4.23

£

£

Other debtors

48,127

48,938

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and Other Debts Due to Members are unsecured and rank equally with other unsecured creditors of the LLP.

6.	ULTIMATE CONTROLLING PARTY

There is no single ultimate controlling party.