Registration number:
Wednesfield Way Investment LLP
for the Year Ended 31 March 2024
Wednesfield Way Investment LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Statement of Changes in Members’ Interests |
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Notes to the Financial Statements |
Wednesfield Way Investment LLP
Limited liability partnership information
Designated members |
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Registered office |
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Wednesfield Way Investment LLP
(Registration number: OC396609)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
|||
Cash and short-term deposits |
- |
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Creditors: Amounts falling due within one year |
- |
( |
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Net assets attributable to members |
- |
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Represented by: |
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Members’ other interests |
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Other reserves |
- |
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|
- |
112,998 |
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Total members' interests |
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Equity |
- |
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- |
112,998 |
For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Wednesfield Way Investment LLP (registered number OC396609) were approved by the
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Wednesfield Way Investment LLP
Statement of Changes in Members’ Interests
At 31 March 2024
Equity |
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Other reserves |
Total equity |
Total |
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Members' interests at 1 April 2023 |
112,998 |
112,998 |
112,998 |
Loss for the financial year available for discretionary division among members |
(2,278) |
(2,278) |
(2,278) |
Members' interests after total comprehensive income |
110,720 |
110,720 |
110,720 |
Drawings (including tax payments) |
(110,720) |
(110,720) |
(110,720) |
At 31 March 2024 |
- |
- |
- |
Equity |
|||
Other reserves |
Total equity |
Total |
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Members' interests at 1 April 2022 |
115,383 |
115,383 |
115,383 |
Loss for the financial year available for discretionary division among members |
(2,385) |
(2,385) |
(2,385) |
At 31 March 2023 |
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112,998 |
112,998 |
Wednesfield Way Investment LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on page 1. The nature of the limited liability partnership’s operations and its principal activities are summarised in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Wednesfield Way Investment LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Going concern
The LLP ceased trading during the reporting period and does not intend to recommence trading. Therefore, the LLP is not a going concern within the meaning of FRS102 and these financial statements have been prepared on the basis that the LLP is to be wound-up. In respect of this reporting period, the departure from the going concern basis has not necessitated any departure from the accounting principles set out in company law or in FRS102.
Wednesfield Way Investment LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Judgements
Preparation of the financial statements requires management to make significant judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the change takes place if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Wednesfield Way Investment LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Trade creditors |
- |
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Accruals and deferred income |
- |
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- |
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Control |
Bridges Property Alternatives Fund III LP, acting via its General Partner, Bridges Property Alternatives Fund III (General Partner) LLP, is the controlling party by virtue of having the majority share of interests in the LLP.