Registered number
OC373365
Wilton Real Estate Management LLP
Filleted Accounts
31 March 2024
Wilton Real Estate Management LLP
Registered number: OC373365
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 4 2,792,777 2,792,777
Current assets
Debtors 5 25,834 7,450
Cash at bank and in hand 131,057 155,686
156,891 163,136
Creditors: amounts falling due within one year 6 (52,844) (51,491)
Net current assets 104,047 111,645
Total assets less current liabilities 2,896,824 2,904,422
Creditors: amounts falling due after more than one year 7 (1,274,346) (1,355,989)
Net assets attributable to members 1,622,478 1,548,433
Represented by:
Members' other interests
Members' capital classified as equity 917,697 917,697
Other reserves 704,781 630,736
1,622,478 1,548,433
1,622,478 1,548,433
Total members' interests
Members' other interests 1,622,478 1,548,433
1,622,478 1,548,433
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 26 September 2024 and signed on their behalf by:
Paul Collins
Designated member
Wilton Real Estate Management LLP
Notes to the Accounts
for the period from 1 January 2023 to 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.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 32,940
At 31 March 2024 32,940
Amortisation
At 1 January 2023 32,940
At 31 March 2024 32,940
Net book value
At 31 March 2024 -
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 2,801,416
At 31 March 2024 2,801,416
Depreciation
At 1 January 2023 8,639
At 31 March 2024 8,639
Net book value
At 31 March 2024 2,792,777
At 31 December 2022 2,792,777
5 Debtors 2024 2022
£ £
Trade debtors 21,561 3,307
Other debtors 4,273 4,143
25,834 7,450
6 Creditors: amounts falling due within one year 2024 2022
£ £
Trade creditors - 813
Other taxes and social security costs 8,289 9,429
Other creditors 44,555 41,249
52,844 51,491
7 Creditors: amounts falling due after one year 2024 2022
£ £
Other creditors 1,274,346 1,355,989
8 Other information
Wilton Real Estate Management LLP is a limited liability partnership incorporated in England. Its registered office is:
42 Berkeley Square
LONDON
W1J 5AW
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