Limited Liability Partnership Registration No. OC426442 (England and Wales)
J&W CAPITAL SYCAMORE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
J&W CAPITAL SYCAMORE LLP
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
J&W CAPITAL SYCAMORE LLP
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
5
-
280,000
Current assets
Debtors
-
6,687
Creditors: amounts falling due within one year
6
-
(6,448)
Net current assets
-
239
Total assets less current liabilities and net assets attributable to members
-
280,239
Represented by:
Loans and other debts due to members within one year
7
Other amounts
-
239
Members' other interests
7
Members' capital classified as equity
-
280,000
-
280,239
Total members' interests
7
Amounts due from members
-
(6,687)
Loans and other debts due to members
-
239
Members' other interests
-
280,000
-
273,552

The members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 March 2022 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

J&W CAPITAL SYCAMORE LLP
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the members and authorised for issue on 26 May 2022 and are signed on their behalf by:
26 May 2022
J&W Capital Ltd
O3 Estates Ltd
Designated member
Designated Member
Limited Liability Partnership Registration No. OC426442
J&W CAPITAL SYCAMORE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Limited liability partnership information

J&W Capital Sycamore LLP is a limited liability partnership incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to limited liability partnerships subject to the small limited liability partnerships' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2
Going concern

The members intend to apply for striking off under s1003 Companies Act 2006 as soon as all outstanding liabilities have been settled. On that basis, the financial statements have been prepared on a basis other than going concern.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement.

 

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, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

1.4
Fixed asset investments

Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

J&W CAPITAL SYCAMORE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -

Entities in which the limited liability partnership has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

 

Basic financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Financial liabilities are derecognised when the limited liability partnership's contractual obligations expire or are discharged or cancelled.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

J&W CAPITAL SYCAMORE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2022
2021
Number
Number
Total
-
0
-
0
4
Members' remuneration
2022
2021
Number
Number
Average number of members during the year
2
2
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
-
280
Loans to group undertakings and participating interests
-
279,720
-
280,000
Movements in fixed asset investments
Shares in associates
Loans to associates
Total
£
£
£
Cost or valuation
At 1 April 2021
280
279,720
280,000
Disposals
(280)
(279,720)
(280,000)
At 31 March 2022
-
-
-
Carrying amount
At 31 March 2022
-
-
-
At 31 March 2021
280
279,720
280,000
6
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
-
6,448
J&W CAPITAL SYCAMORE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
7
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Other amounts
Total
Total
2022
£
£
£
£
Amounts due to members
239
Amounts due from members
(6,687)
Members' interests at 1 April 2021
280,000
(6,448)
(6,448)
273,552
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
106,149
106,149
106,149
Profit for the financial year available for discretionary division among members
-
-
-
-
Members' interests after loss and remuneration for the year
280,000
99,701
99,701
379,701
Introduced by members
-
6,865
6,865
6,865
Repayments of capital
(280,000)
-
-
(280,000)
Drawings
-
(106,566)
(106,566)
(106,566)
Members' interests at 31 March 2022
-
-
-
-
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2022-03-312021-04-01false26 May 2022CCH SoftwareCCH Accounts Production 2022.200OC4264422021-04-012022-03-31OC4264422022-03-31OC426442bus:PartnerLLP12021-04-012022-03-31OC426442bus:PartnerLLP22021-04-012022-03-31OC4264422020-04-012021-03-31OC426442bus:LimitedLiabilityPartnershipLLP2021-04-012022-03-31OC426442bus:SmallCompaniesRegimeForAccounts2021-04-012022-03-31OC426442bus:FRS1022021-04-012022-03-31OC426442bus:AuditExemptWithAccountantsReport2021-04-012022-03-31OC426442bus:FullAccounts2021-04-012022-03-31xbrli:purexbrli:shares