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Registration number: OC432374

RSK Wigan Property LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

RSK Wigan Property LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 5

Balance Sheet

2

Notes to the Financial Statements

4

 

RSK Wigan Property LLP

Limited liability partnership information

Designated members

RSK Group Limited

RSK Investments (Wigan) LLP
 

Registered office

Spring Lodge
172 Chester Road
Helsby
Cheshire
WA6 0AR

Accountants

UHY Ross Brooke
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY

 

RSK Wigan Property LLP

(Registration number: OC432374)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

362,640

338,603

Current assets

 

Debtors

4

16,050

4,050

Cash and short-term deposits

 

79,224

120,396

 

95,274

124,446

Creditors: Amounts falling due within one year

5

(3,094)

(8,229)

Net current assets

 

92,180

116,217

Net assets attributable to members

 

454,820

454,820

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

340,000

340,000

Other reserves

 

114,820

114,820

 

454,820

454,820

   

454,820

454,820

Total members' interests

 

Equity

 

454,820

454,820

   

454,820

454,820

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.

 

RSK Wigan Property LLP

(Registration number: OC432374)
Balance Sheet as at 31 March 2024

The financial statements of RSK Wigan Property LLP (registered number OC432374) were approved by the Board and authorised for issue on 25 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
RSK Investments (Wigan) LLP
Designated member

 

RSK Wigan Property 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 under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given 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 RSK Wigan Property LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

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

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

RSK Wigan Property LLP

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

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

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.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 3 (2023 - 3).

3

Investment property

2024
£

At 1 April

338,603

Additions

24,037

At 31 March

362,640

4

Debtors

2024
£

2023
£

Trade debtors

12,000

4,000

Other debtors

4,050

50

Total current trade and other debtors

16,050

4,050

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Other creditors

1,294

5,829

Accruals and deferred income

1,800

2,400

3,094

8,229

6

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.