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Registered Number: OC418559
England and Wales

 

 

 

FOURKEYS (WALLINGFORD) LLP


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,715,000    3,715,000 
3,715,000    3,715,000 
Current assets      
Cash at bank and in hand 103,978    113,292 
Creditors: amount falling due within one year 4 (33,094)   (70,275)
Net current assets 70,884    43,017 
 
Total assets less current liabilities 3,785,884    3,758,017 
Creditors: amount falling due after more than one year 5 (3,715,000)   (3,715,000)
Accruals and deferred income 1   
Net assets 70,885    43,017 
 

Represented by:
Loans and other debts due to members 43,830    31,928 
Members' other interest
Other reserves 27,055    11,089 
27,055    11,089 

70,885    43,017 
 

Total members' interests
Loans and other debts due to members 43,830    31,928 
Members' other interests 27,055    11,089 
70,885    43,017 
 


For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) 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.

These financial statements have been prepared in accordance with the special provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006
These accounts were approved by the members and signed on their behalf by:


.............................................................................
F A Freeman
Designated Member
Date approved by the members: 29 July 2024
1
General Information
Fourkeys (Wallingford) LLP is a limited liability partnership, registered in England and Wales, registration number OC418559, registration address 23 St Lucians Lane, Wallingford, Oxfordshire, OX10 9ER.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The members believe that the partnership is experiencing good levels of rental income and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the partnership has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover represents net rental income. Turnover is recognised when the LLP obtains the right to consideration.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
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 subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 3,715,000    3,715,000 
Additions  
Disposals  
At 31 March 2024 3,715,000    3,715,000 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 3,715,000    3,715,000 
Opening balance as at 01 April 2023 3,715,000    3,715,000 

The investment properties have been valued by the members at 31 March 2024 on an open market basis.

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 33,094    33,332 
Other Creditors   36,943 
33,094    70,275 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 3,715,000    3,715,000 
3,715,000    3,715,000 

2