REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
WORTON LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
WORTON LLP |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
WORTON LLP |
General Information |
for the year ended 31 March 2023 |
DESIGNATED MEMBERS: |
M Pharaon |
Mrs N Dickson |
R Pharaon |
K Pharaon |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Worton Park |
Cassington |
Witney |
Oxfordshire |
OX29 4SX |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Report of the Members |
for the year ended 31 March 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property management |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
M Pharaon |
Mrs N Dickson |
R Pharaon |
K Pharaon |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £174,969 (2022 - £193,901 profit). |
MEMBERS' INTERESTS |
Members salaries are distributed regularly on a quarterly basis throughout the period ended 31/03/2022. |
Amounts contributed by members during the period are considered to be equity loans |
ON BEHALF OF THE MEMBERS: |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Income Statement |
for the year ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,864,248 |
3,889,279 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
3,864,248 |
3,889,279 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 3,864,248 | 3,889,279 |
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 were approved by the members of the LLP and authorised for issue on |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Worton 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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), Companies Act 2006 as applied by LLPs and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships, issued in July 2014. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2018 | 570,922 |
Cost | 3,438,328 |
4,009,250 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings are interest free and repayable on demand. |
WORTON LLP (REGISTERED NUMBER: OC402241) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
10. | PENSION COMMITMENTS |
Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate. |