1 April 2023 false Taxfiler 2024.5 OC372953business:LimitedLiabilityPartnershipLLP2023-04-012024-03-31 OC3729532023-03-31 OC3729532023-04-012024-03-31 OC372953business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 OC372953business:FullAccounts2023-04-012024-03-31 OC3729532024-03-31 OC372953business:PartnerLLP42023-04-012024-03-31 OC372953business:PartnerLLP152023-04-012024-03-31 OC372953business:RegisteredOffice2023-04-012024-03-31 OC3729532023-03-31 OC372953core:WithinOneYear2024-03-31 OC372953core:WithinOneYear2023-03-31 OC372953core:AfterOneYear2024-03-31 OC372953core:AfterOneYear2023-03-31 OC372953core:ShareCapital2024-03-31 OC372953core:ShareCapital2023-03-31 OC372953business:SmallEntities2023-04-012024-03-31 OC372953countries:EnglandWales2023-04-012024-03-31 OC3729532022-04-012023-03-31 iso4217:GBP xbrli:pure
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
Wharf Properties Ltd
Registered Number
OC372953 (England and Wales)
Registered Office
C/O 32 CASTLEWOOD ROAD LONDON N16 6DW ENGLAND
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Frances Wharf LLP Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
160,124 
160,124 
Debtors
15,150 
- 
Cash at bank and in hand
70,068 
101,894 
245,342 
262,018 
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 
Represented by:
Loans and other debts due to members
106,068 
117,121 
Members' other interests
Members' capital classified as equity
100,000 
100,000 
206,068 
217,121 
Total members' interests
Loans and other debts due to members
106,068 
117,121 
Members' other interests
100,000 
100,000 
206,068 
217,121 
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
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Frances Wharf LLP Notes to the Accounts for the year ended 31 March 2024
1
Accounting policies
Basis of preparation
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Members' remuneration
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
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.
Financial instruments
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.
2
Statutory information
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 
6,588 
6,577 
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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 
£ 
£ 
Bank loans
32,686 
38,320 
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).
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