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 OC369354 Mr D I Wilson Madelkat Limited Ms O M Holme iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC369354 2023-03-31 OC369354 2024-03-31 OC369354 2023-04-01 2024-03-31 OC369354 frs-core:CurrentFinancialInstruments 2024-03-31 OC369354 frs-core:BetweenOneFiveYears 2024-03-31 OC369354 frs-core:ComputerEquipment 2024-03-31 OC369354 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC369354 frs-core:ComputerEquipment 2023-03-31 OC369354 frs-core:WithinOneYear 2024-03-31 OC369354 frs-core:RevaluationReserve 2023-03-31 OC369354 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC369354 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC369354 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC369354 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC369354 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC369354 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC369354 frs-core:CostValuation 2023-03-31 OC369354 frs-core:DisposalsRepaymentsInvestments 2024-03-31 OC369354 frs-core:CostValuation 2024-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 OC369354 frs-core:ListedExchangeTraded 2024-03-31 OC369354 frs-core:ListedExchangeTraded 2023-03-31 OC369354 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-03-31 OC369354 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-03-31 OC369354 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-03-31 OC369354 frs-core:UnlistedNon-exchangeTraded 2024-03-31 OC369354 frs-core:UnlistedNon-exchangeTraded 2023-03-31 OC369354 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 OC369354 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 OC369354 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 OC369354 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 OC369354 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC369354 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC369354 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC369354 frs-bus:PartnerLLP3 2023-04-01 2024-03-31 OC369354 2022-03-31 OC369354 2023-03-31 OC369354 2022-04-01 2023-03-31 OC369354 frs-core:CurrentFinancialInstruments 2023-03-31 OC369354 frs-core:BetweenOneFiveYears 2023-03-31 OC369354 frs-core:WithinOneYear 2023-03-31 OC369354 frs-core:OtherReservesSubtotal 2022-03-31 OC369354 frs-core:RevaluationReserve 2022-03-31
Registered number: OC369354
WG Partners LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Reconciliation of Members' Interests 3—4
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: OC369354
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 430 1,550
Investments 5 6 42,978
436 44,528
CURRENT ASSETS
Debtors 6 316,292 240,107
Cash at bank and in hand 127,045 115,765
443,337 355,872
Creditors: Amounts Falling Due Within One Year 7 (159,305 ) (147,569 )
NET CURRENT ASSETS (LIABILITIES) 284,032 208,303
TOTAL ASSETS LESS CURRENT LIABILITIES 284,468 252,831
NET ASSETS ATTRIBUTABLE TO MEMBERS 284,468 252,831
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 284,468 252,831
284,468 252,831
284,468 252,831
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 284,468 252,831
284,468 252,831
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
Ms O M Holme
Designated Member
11 June 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Revaluation Reserve Other Reserves Total Equity Other amounts Total members' interest
£ £ £ £ £
Amounts due to members - - - 720,004 -
Balance at 1 April 2022 42,398 - 42,398 720,004 762,402
Members' remuneration charged as an expense, including employment and retirement benefit costs - - - 1,007,262 1,007,262
Profit/(loss) for the financial year available for discretionary division among members - - - - -
Members' interests after profit/(loss) for the year 42,398 - 42,398 1,727,266 1,769,664
Deficit arising on revaluation of fixed assets (42,398) - (42,398) - (42,398)
Drawings - - - (1,474,435) (1,474,435)
Amounts due to members - - - 252,831 -
As at 31 March 2023 and 1 April 2023 - - - 252,831 252,831
Members' remuneration charged as an expense, including employment and retirement benefit costs - - - 623,693 623,693
Profit/(loss) for the financial year available for discretionary division among members - - - - -
Members' interests after profit/(loss) for the year - - - 876,524 876,524
Drawings - - - (592,056) (592,056)
Amounts due to members - - - 284,468 -
As at 31 March 2024 - - - 284,468 284,468
Loans and other debts due to members includes a total capital contribution' of £70,000, as required by the LLP's FCA registration, which is held within the partners' capital accounts, for each partner to the extent of their equity share. The balance represents amounts owed to members in respect of profits. They rank equally with debts due to ordinary creditors in the event of a winding up.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
WG Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number OC369354 . The Registered Office is C/o Bwbca Limited, Dukes Court, Duke Street, Woking, Surrey, GU21 5BH.
The presentation currency of the financial statements is the Pound 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 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
Preparation of consolidated financial statements
The financial statements contain information about WG Partners LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.
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.
Revenue is recognised on a work done basis.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% on cost
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Listed investments
Listed investments held as fixed assets are shown at fair value, based on the market value at the balance sheet date.
2.6. Other operating income
Income from Shares in group undertakings represents dividend income from a subsidiary undertaking, a Pty based in Australia. Dividends are recognised on the date that they are declared in Australia.
3. Average Number of Employees
Average number of employees, during the year was: 2 (2023: 3)
2 3
Page 4
Page 5
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 17,862
Disposals (4,016 )
As at 31 March 2024 13,846
Depreciation
As at 1 April 2023 16,312
Provided during the period 1,120
Disposals (4,016 )
As at 31 March 2024 13,416
Net Book Value
As at 31 March 2024 430
As at 1 April 2023 1,550
5. Investments
Subsidiaries Listed Unlisted Total
£ £ £ £
Cost
As at 1 April 2023 3 42,972 3 42,978
Disposals - (42,972 ) - (42,972 )
As at 31 March 2024 3 - 3 6
Provision
As at 1 April 2023 - - - -
As at 31 March 2024 - - - -
Net Book Value
As at 31 March 2024 3 - 3 6
As at 1 April 2023 3 42,972 3 42,978
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 157,649 116,872
Amounts owed by group undertakings 44,799 6,862
Other debtors 79,048 81,577
281,496 205,311
Due after more than one year
Other debtors 34,796 34,796
316,292 240,107
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,722 77,771
Other creditors 116,986 52,115
Taxation and social security 17,597 17,683
159,305 147,569
8. Capital Commitments
The LLP's FCA registration requires a 'capital contribution' of £70,000 - this is held within the partners' capital accounts, for each partner to the extent of their equity share.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 192,854 106,848
Later than one year and not later than five years 103,488 -
296,342 106,848
Page 6