Silverfin false 05/04/2024 06/04/2023 05/04/2024 Mrs A O'Connell 20/12/2019 19 August 2024 OC430075 2024-04-05 OC430075 bus:Director1 2024-04-05 OC430075 2023-04-05 OC430075 core:CurrentFinancialInstruments 2024-04-05 OC430075 core:CurrentFinancialInstruments 2023-04-05 OC430075 core:LandBuildings 2023-04-05 OC430075 core:LandBuildings 2024-04-05 OC430075 2023-04-06 2024-04-05 OC430075 bus:FullAccounts 2023-04-06 2024-04-05 OC430075 bus:SmallEntities 2023-04-06 2024-04-05 OC430075 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 OC430075 bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC430075 bus:Director1 2023-04-06 2024-04-05 OC430075 2022-04-06 2023-04-05 iso4217:GBP xbrli:pure

Company No: OC430075 (England and Wales)

THE O'CONNELL WOODLAND PARTNERSHIP LLP

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

THE O'CONNELL WOODLAND PARTNERSHIP LLP

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

THE O'CONNELL WOODLAND PARTNERSHIP LLP

BALANCE SHEET

As at 05 April 2024
THE O'CONNELL WOODLAND PARTNERSHIP LLP

BALANCE SHEET (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 421,052 421,052
421,052 421,052
Current assets
Debtors 4 637 733
Cash at bank and in hand 52,800 62,157
53,437 62,890
Creditors: amounts falling due within one year 5 ( 1,360) ( 2,758)
Net current assets 52,077 60,132
Total assets less current liabilities 473,129 481,184
Net assets attributable to members 473,129 481,184
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 473,129 481,184
473,129 481,184
Members' other interests
0 0
473,129 481,184
Total members' interests
Loans and other debts due to members 473,129 481,184
473,129 481,184

For the financial year ending 05 April 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.

Members' responsibilities:

The O'Connell Woodland Partnership LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of The O'Connell Woodland Partnership LLP (registered number: OC430075) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

Mrs A O'Connell
Designated member
THE O'CONNELL WOODLAND PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
THE O'CONNELL WOODLAND PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The O'Connell Woodland Partnership LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is The Farmery, Fore Street, Ivybridge, PL21 9AE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Tangible assets

Land and buildings Total
£ £
Cost
At 06 April 2023 421,052 421,052
At 05 April 2024 421,052 421,052
Accumulated depreciation
At 06 April 2023 0 0
At 05 April 2024 0 0
Net book value
At 05 April 2024 421,052 421,052
At 05 April 2023 421,052 421,052

4. Debtors

2024 2023
£ £
Prepayments 637 733

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 55 0
Accruals 1,240 1,110
Other taxation and social security 65 1,648
1,360 2,758