Registered No. OC372953 (England and Wales)
Frances Wharf LLP
Unaudited accounts
for the year ended 31 March 2024
Frances Wharf LLP
LLP Information
for the year ended 31 March 2024
Designated members
FD Burdett Road Ltd
Registered Number
OC372953 (England and Wales)
Registered Office
C/O 32 CASTLEWOOD ROAD
LONDON
N16 6DW
ENGLAND
Frances Wharf LLP
Statement of financial position
as at 31 March 2024
Inventories
160,124
160,124
Cash at bank and in hand
70,068
101,894
Creditors: amounts falling due within one year
(6,588)
(6,577)
Net current assets
238,754
255,441
Total assets less current liabilities
238,754
255,441
Creditors: amounts falling due after more than one year
(32,686)
(38,320)
Net assets attributable to members
206,068
217,121
Loans and other debts due to members
106,068
117,121
Members' capital classified as equity
100,000
100,000
Loans and other debts due to members
106,068
117,121
Members' other interests
100,000
100,000
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 accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 12 September 2024.
Wharf Properties Ltd
Designated member
Limited Liability Partnership Registration No. OC372953
Frances Wharf LLP
Notes to the Accounts
for the year ended 31 March 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members are expected to subscribe a minimum amount of capital and may be invited to contribute more. On retirement, all capital is repaid to the member concerned.
Members' shares in the profit or loss for the year available for discretionary division among the members are accounted for as an allocation of that balance. Allocated balances are split between the members with any unallocated balances being included within 'Other reserves'. Members are permitted to make drawings in anticipation of that allocation, subject to the agreement of the other members.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Frances Wharf LLP is a limited liability partnership, incorporated in England and Wales, registration number OC372953. Its registered office is C/O 32 CASTLEWOOD ROAD, LONDON, N16 6DW, ENGLAND.
3
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,500
5,360
Taxes and social security costs
(199)
(70)
Other creditors
1,287
1,287
Frances Wharf LLP
Notes to the Accounts
for the year ended 31 March 2024
4
Creditors: amounts falling due after more than one year
2024
2023
5
Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
106,068
117,121
Amounts falling due within one year
106,068
117,121
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).