Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC352949 Futureneed Group Limited The Quantock Trust iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC352949 2023-03-31 OC352949 2024-03-31 OC352949 2023-04-01 2024-03-31 OC352949 frs-core:CurrentFinancialInstruments 2024-03-31 OC352949 frs-core:Non-currentFinancialInstruments 2024-03-31 OC352949 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC352949 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC352949 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC352949 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC352949 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC352949 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC352949 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC352949 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC352949 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC352949 2022-03-31 OC352949 2023-03-31 OC352949 2022-04-01 2023-03-31 OC352949 frs-core:CurrentFinancialInstruments 2023-03-31 OC352949 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC352949
Hanwey LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC352949
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 12,220,000 12,220,000
12,220,000 12,220,000
CURRENT ASSETS
Debtors 5 319,205 246,822
Cash at bank and in hand 83,753 205,685
402,958 452,507
Creditors: Amounts Falling Due Within One Year 6 (396,186 ) (399,459 )
NET CURRENT ASSETS (LIABILITIES) 6,772 53,048
TOTAL ASSETS LESS CURRENT LIABILITIES 12,226,772 12,273,048
Creditors: Amounts Falling Due After More Than One Year 7 (8,495,000 ) (8,975,000 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,731,772 3,298,048
REPRESENTED BY:
Equity
Members' other interests
Members' capital (750,025) (750,025)
Other reserves 4,481,797 4,048,073
3,731,772 3,298,048
TOTAL MEMBERS' INTEREST
Members' other interests 3,731,772 3,298,048
3,731,772 3,298,048
Page 1
Page 2
For the year ending 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Futureneed Group Limited
Designated Member
27 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hanwey LLP is a limited liability partnership, incorporated in England & Wales, registered number OC352949 . The Registered Office is 16-18 Whiteladies Road, Clifton, Bristol, BS8 2LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 12,220,000
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 62,519 69,766
Prepayments and accrued income 5,352 10,150
Other debtors 251,334 166,906
319,205 246,822
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,962 8,904
VAT 47,847 56,064
Accruals and deferred income 343,377 334,491
396,186 399,459
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to parent undertaking 5,663,333 5,983,333
Amounts owed to other participating interests 2,831,667 2,991,667
8,495,000 8,975,000
8. Related Party Transactions
At the year end, the LLP had loans from members totalling £8,495,000 (2023: £8,975,000) shown as loans repayable after more than one year. The loans are repayable at the discretion of the LLP but are expected to be repaid after more than 5 years.
Interest is charged at the Bank of England base rate +1.5% (with a minimum of 3.5%) and the charge for the year of £567,300 (2023: £385,255) is shown as an expense.
Page 4