Westwood House Partners LLP Filleted Accounts Cover
Westwood House Partners LLP
Registered No. OC416214
Information for Filing with the Registrar
31 March 2024
Westwood House Partners LLP Balance Sheet Registrar
at
31 March 2024
Registered No.
OC416214
Notes
2024
2023
£
£
Fixed assets
Investment property
5
453,906
453,906
453,906
453,906
Current assets
Debtors
6
2,688
2,688
Cash at bank and in hand
17,477
21,258
20,165
23,946
Creditors: Amounts falling due within one year
7
(17,493)
(14,343)
Net current assets
2,672
9,603
Total assets less current liabilities
456,578
463,509
Creditors: Amounts falling due after more than one year
8
(385,267)
(399,976)
Net assets attributable to members
71,311
63,533
Represented by:
Members' other interests
Other reserves
71,311
63,533
71,311
63,533
71,311
63,533
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 31 March 2024 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 26 April 2024 and signed on its behalf by:
M. Hughes
Designated member
26 April 2024
Westwood House Partners LLP Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Westwood House Partners LLP is a limited liability partnership and incorporated in England and Wales.
Its registered number is: OC416214
Its registered office is:
Westwood House
London Road
Petersfield
GU31 5AJ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Information in relation to members
2024
2023
Number
Number
The average number of members during the year :
3
3
4
Employees
2024
2023
Number
Number
The average number of persons employed during the year was:
0
0
5
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2023
453,906
At 31 March 2024
453,906
6
Debtors
2024
2023
£
£
Trade debtors
2,6882,688
2,6882,688
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,56213,562
Accruals and deferred income
3,931781
17,49314,343
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
141,039155,748
Other creditors
244,228244,228
385,267399,976
Westwood House Partners LLPOC41621431 March 202401 April 2023false26 April 2024BTCSoftware AP Solution 2024 11.1.0311.1.03OC4162142023-04-012024-03-31OC4162142024-03-31OC416214countries:UnitedKingdom2023-04-012024-03-31OC416214bus:RegisteredOffice2023-04-012024-03-31OC4162142022-04-012023-03-31OC416214core:FreeholdInvestmentProperty2023-04-01OC416214core:FreeholdInvestmentProperty2024-03-31OC4162142023-03-31OC416214core:WithinOneYear2024-03-31OC416214core:WithinOneYear2023-03-31OC416214core:AfterOneYear2024-03-31OC416214core:AfterOneYear2023-03-31OC4162142023-04-01OC416214bus:SmallEntities2023-04-012024-03-31OC416214bus:FullAccounts2023-04-012024-03-31OC416214bus:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC416214bus:PartnerLLP22023-04-012024-03-31OC416214bus:LimitedLiabilityPartnershipLLP2023-04-012024-03-31xbrli:pureiso4217:GBP