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Registration number: OC396609

Wednesfield Way Investment LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Wednesfield Way Investment LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Statement of Changes in Members’ Interests

3

Notes to the Financial Statements

4

 

Wednesfield Way Investment LLP

Limited liability partnership information

Designated members

Bridges Property Alternatives Fund III (General Partner) LLP on behalf of Bridges Property Alternatives Fund III LP

Stoford Properties Limited
 

Registered office

38 Seymour Street
London
W1H 7BP

 

Wednesfield Way Investment LLP

(Registration number: OC396609)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Cash and short-term deposits

 

-

117,082

Creditors: Amounts falling due within one year

3

-

(4,084)

Net assets attributable to members

 

-

112,998

Represented by:

 

Members’ other interests

 

Other reserves

 

-

112,998

   

-

112,998

Total members' interests

 

Equity

 

-

112,998

   

-

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 Designated Members and authorised for issue on 12 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Paul Richings as Member Representative
of Bridges Property Alternatives Fund III (General Partner) LLP on behalf of Bridges Property Alternatives Fund III LP
Designated Member

.........................................
Julie Craig as Member Representative
of Stoford Properties Limited
Designated Member

 
 

Wednesfield Way Investment LLP

Statement of Changes in Members’ Interests
At 31 March 2024

 

Equity

   

Other reserves
£

Total equity
£

Total
2024
£

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
2023
£

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

112,998

112,998

112,998

 

Wednesfield Way Investment LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023: 0).

 

Wednesfield Way Investment LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

-

84

Accruals and deferred income

-

4,000

-

4,084

4

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.

Bridges Fund Management Limited, a company incorprorated in England and Wales, is the ultimate controlling party.