Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 June 2022 false 1 April 2023 31 March 2024 31 March 2024 OC442513 Mr James Watson-Gandy Mrs Emanuela Watson-Gandy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC442513 2023-03-31 OC442513 2024-03-31 OC442513 2023-04-01 2024-03-31 OC442513 frs-core:Non-currentFinancialInstruments 2024-03-31 OC442513 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC442513 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC442513 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 OC442513 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC442513 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC442513 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC442513 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC442513 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC442513 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC442513 2022-05-31 OC442513 2023-03-31 OC442513 2022-06-01 2023-03-31 OC442513 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC442513
W&G UK LLP
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Makesworth Accountants
Chartered Accountants
First Floor,Cervantes House, 5-9 Headstone Road
Harrow, Middlesex
HA1 1PD
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: OC442513
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,164,000 1,164,000
1,164,000 1,164,000
CURRENT ASSETS
Cash at bank and in hand 6,577 73,716
6,577 73,716
Creditors: Amounts Falling Due Within One Year - (368 )
NET CURRENT ASSETS (LIABILITIES) 6,577 73,348
TOTAL ASSETS LESS CURRENT LIABILITIES 1,170,577 1,237,348
Creditors: Amounts Falling Due After More Than One Year (569,686 ) (568,720 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 600,891 668,628
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 69,609 50,102
69,609 50,102
Equity
Members' other interests
Members' capital 531,282 618,526
531,282 618,526
600,891 668,628
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 69,609 50,102
Members' other interests 531,282 618,526
600,891 668,628
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.
All of the LLP's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mrs Emanuela Watson-Gandy
Designated Member
26/06/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
W&G UK LLP is a limited liability partnership, incorporated and registered in England and Wales. The address of its registered office is 49 Shooters Hill Road, London, England, SE3 7HS.
The financial statements are presented in sterling (£).
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 2018 (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. Going Concern Disclosure
After making enquiries, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable.  Turnover includes revenue earned from the rental properties.
2.4. 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.
2.5. Financial Instruments
The LLP has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the LLP becomes 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 LLP after deducting all of its liabilities.
The LLP's policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Investment Property
31 March 2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 1,164,000
Page 4