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Registered number: OC447207










WRENBRIDGE (FRELD HEATHROW PM) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Reconciliation of Members' Interests
3
Notes to the Financial Statements
4 - 7


 
WRENBRIDGE (FRELD HEATHROW PM) LLP
REGISTERED NUMBER: OC447207

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Investments
 4 
684,157

  
684,157

Current assets
  

Debtors: amounts falling due within one year
 5 
100

  
100

Creditors: Amounts Falling Due Within One Year
 6 
(3,500)

Net current liabilities
  
 
 
(3,400)

Total assets less current liabilities
  
680,757

  

Net assets
  
680,757


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
(96,343)

  
(96,343)

Members' other interests
  

Members' capital classified as equity
  
100

Members' contributions classified as equity
  
777,000

  
 
777,100

  
680,757


Total members' interests
  

Loans and other debts due to members
 7 
(96,343)

Members' other interests
  
777,100

  
680,757


Page 1

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
REGISTERED NUMBER: OC447207
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 11 November 2024.




................................................
C A Allen
On behalf of Fiera Real Estate UK Limited
Designated member

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Members' contribution
Total
Current account
Total
Total

£
£
£
£
£
£

At incorporation
-
-
-
-
-
-

Members remuneration charged as an expense
-
-
-
(96,343)
(96,343)
(96,343)

Members' contributions
-
777,000
777,000
-
-
777,000

Amounts introduced by members
100
-
100
-
-
100

Amounts due to members
(96,343)
(96,343)

Balance at 31 March 2024 
100
777,000
777,100
(96,343)
(96,343)
680,757

The notes on pages 4 to 7 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Wrenbridge (FRELD Heathrow PM) LLP is a limited liability partnership incoporated in England and Wales under the Limited Liability Partnerships Act 2000. The address of the registered office is Third Floor Queensberry House, 3 Old Burlington Street, London, W1S 3AE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP is currently reliant on its members for financial support. The members are committed to the sustainment of the LLP and its activities, and are confident that the LLP has the resources to continue operating for at least 12 months from the date the financial statements are authorised. The members have concluded that it is appropriate that the financial statements be prepared on a going concern basis.

 
2.3

Turnover

Turnover represents fees receivable net of VAT and share of partnership result.
Income is recognised as follows:
(i) Fees receivable - turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided based on a proportion of the total expected consideration at completion.
(ii) Share of partnership result - upon realisation of the profit or loss in the partnership.

Page 4

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.5

Valuation of investments

The valuation of the investment in the SPV is based on the entity's entitlement to the proportion of the net assets of the SPV after adjusting for the fair value of the stock held.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Page 5

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Members

The average number of members during the period was 5.

Page 6

 
WRENBRIDGE (FRELD HEATHROW PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments
Loans to investments
Fair value adjustment
Current account
Total

£
£
£
£
£



Cost or valuation


Additions
3
776,997
-
(3,128)
773,872


Revaluations
-
-
(89,715)
-
(89,715)



At 31 March 2024
3
776,997
(89,715)
(3,128)
684,157





5.


Debtors

2024
£


Called up share capital not paid
100



6.


Creditors: Amounts falling due within one year

2024
£

Accruals and deferred income
3,500



7.


Loans and other debts due to members


2024
£



Other amounts due from members
(96,343)



Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 7