Acorah Software Products - Accounts Production 16.0.110 false true 24 February 2023 25 August 2021 false 25 February 2023 31 March 2024 31 March 2024 OC438887 D12 Wyck Hill Limited TFB Ventures Limited Gardnor Group Limited Mrs J I Lewis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC438887 2023-02-24 OC438887 2024-03-31 OC438887 2023-02-25 2024-03-31 OC438887 frs-core:CurrentFinancialInstruments 2024-03-31 OC438887 frs-bus:LimitedLiabilityPartnershipLLP 2023-02-25 2024-03-31 OC438887 frs-bus:LimitedLiabilityPartnershipsSORP 2023-02-25 2024-03-31 OC438887 frs-bus:FilletedAccounts 2023-02-25 2024-03-31 OC438887 frs-bus:SmallEntities 2023-02-25 2024-03-31 OC438887 frs-bus:AuditExempt-NoAccountantsReport 2023-02-25 2024-03-31 OC438887 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-25 2024-03-31 OC438887 frs-countries:EnglandWales 2023-02-25 2024-03-31 OC438887 frs-bus:PartnerLLP1 2023-02-25 2024-03-31 OC438887 frs-bus:PartnerLLP2 2023-02-25 2024-03-31 OC438887 frs-bus:PartnerLLP3 2023-02-25 2024-03-31 OC438887 frs-bus:PartnerLLP4 2023-02-25 2024-03-31 OC438887 2021-08-24 OC438887 2023-02-24 OC438887 2021-08-25 2023-02-24 OC438887 frs-core:CurrentFinancialInstruments 2023-02-24
Registered number: OC438887
Wyck Hill Property LLP
Unaudited Financial Statements
For the Period 25 February 2023 to 31 March 2024
One Bean Limited
Chartered Accountants
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC438887
31 March 2024 24 February 2023
as restated
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 1,182,053 1,477,926
Debtors 5 92,142 25,236
Cash at bank and in hand 4,195 137,473
1,278,390 1,640,635
Creditors: Amounts Falling Due Within One Year 6 (928,390 ) (1,290,635 )
NET CURRENT ASSETS (LIABILITIES) 350,000 350,000
TOTAL ASSETS LESS CURRENT LIABILITIES 350,000 350,000
NET ASSETS ATTRIBUTABLE TO MEMBERS 350,000 350,000
REPRESENTED BY:
Equity
Members' other interests
Members' capital 350,000 350,000
350,000 350,000
TOTAL MEMBERS' INTEREST
Amounts due from members (92,142) (25,236)
Members' other interests 350,000 350,000
257,858 324,764
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Page 2
For the period ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
On behalf of the members
D12 Wyck Hill Limited
Designated Member
3 December 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Wyck Hill Property LLP is a limited liability partnership, incorporated in England & Wales, registered number OC438887 . The Registered Office is Suite C, 153 St Neots Road, Hardwick, Cambridge, Cambridgeshire, CB23 7QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
Revenue from the sale of properties is recognised when the significant risks and rewards of ownership of each property have passed to the buyer (usually on completion), when the amount of revenue and related costs can be measured reliably, and it is probably that the economic benefits will flow into the business.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Construction costs on multiple-dwelling sites are apportioned to each dwelling on the basis of final selling price, or estimate thereof.
2.4. Financial Instruments
The LLP only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
2.5. Division of profits and losses
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 and losses automatically based on percentages set out in the LLP members' agreement. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of comprehensive income.
In the event of the LLP making losses, the loss is recognised as a debt due from the members.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2023: NIL)
- -
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4. Stocks
31 March 2024 24 February 2023
as restated
£ £
Work in progress 1,182,053 1,477,926
5. Debtors
31 March 2024 24 February 2023
as restated
£ £
Due within one year
Other debtors 92,142 25,236
Other debtors represents accumulated losses allocated to the members according to their predetermined share.
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 24 February 2023
as restated
£ £
Trade creditors - 34,035
Other loans 919,308 1,250,000
Other creditors 9,082 6,600
928,390 1,290,635
7. Restatement of prior year balances
The presentation of the members' interests for the period ended 24 February 2023 has been restated to show accumulated losses of £25,236 separately from the member's equity of £350,000.
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