Silverfin false 05/04/2024 06/04/2023 05/04/2024 Ms S E Fenton 17/04/2015 Mr M T Leiworthy 29/04/2015 03 January 2025 OC399409 2024-04-05 OC399409 bus:Director1 2024-04-05 OC399409 bus:Director2 2024-04-05 OC399409 2023-04-05 OC399409 core:CurrentFinancialInstruments 2024-04-05 OC399409 core:CurrentFinancialInstruments 2023-04-05 OC399409 core:Non-currentFinancialInstruments 2024-04-05 OC399409 core:Non-currentFinancialInstruments 2023-04-05 OC399409 core:Goodwill 2023-04-05 OC399409 core:Goodwill 2024-04-05 OC399409 core:LandBuildings 2023-04-05 OC399409 core:OtherPropertyPlantEquipment 2023-04-05 OC399409 core:LandBuildings 2024-04-05 OC399409 core:OtherPropertyPlantEquipment 2024-04-05 OC399409 2023-04-06 2024-04-05 OC399409 bus:FullAccounts 2023-04-06 2024-04-05 OC399409 bus:SmallEntities 2023-04-06 2024-04-05 OC399409 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 OC399409 bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC399409 bus:Director1 2023-04-06 2024-04-05 OC399409 bus:Director2 2023-04-06 2024-04-05 OC399409 core:Goodwill core:TopRangeValue 2023-04-06 2024-04-05 OC399409 core:LandBuildings core:TopRangeValue 2023-04-06 2024-04-05 OC399409 core:OtherPropertyPlantEquipment 2023-04-06 2024-04-05 OC399409 2022-04-06 2023-04-05 OC399409 core:LandBuildings 2023-04-06 2024-04-05 OC399409 core:Non-currentFinancialInstruments 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Company No: OC399409 (England and Wales)

PENWITH WOODLAND BURIAL LLP

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

PENWITH WOODLAND BURIAL LLP

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

PENWITH WOODLAND BURIAL LLP

BALANCE SHEET

As at 05 April 2024
PENWITH WOODLAND BURIAL LLP

BALANCE SHEET (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 474,393 461,673
474,393 461,673
Current assets
Stocks 20,485 13,371
Debtors 5 30,189 20,147
Cash at bank and in hand 299,541 286,454
350,215 319,972
Creditors: amounts falling due within one year 6 ( 528,111) ( 741,109)
Net current liabilities (177,896) (421,137)
Total assets less current liabilities 296,497 40,536
Creditors: amounts falling due after more than one year 7 ( 191,000) 0
Net assets attributable to members 105,497 40,536
Represented by
Loans and other debts due to members within one year
Other amounts 105,497 40,536
105,497 40,536
Members' other interests
0 0
105,497 40,536
Total members' interests
Loans and other debts due to members 105,497 40,536
105,497 40,536

For the financial year ending 05 April 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.

Members' responsibilities:

Penwith Woodland Burial LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Penwith Woodland Burial LLP (registered number: OC399409) were approved and authorised for issue by the Board of Directors on 03 January 2025. They were signed on its behalf by:

Ms S E Fenton
Designated member
PENWITH WOODLAND BURIAL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
PENWITH WOODLAND BURIAL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Penwith Woodland Burial LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Rose Farm Chyenhal, Buryas Bridge, Penzance, TR19 6AN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 5 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 06 April 2023 30,000 30,000
At 05 April 2024 30,000 30,000
Accumulated amortisation
At 06 April 2023 30,000 30,000
At 05 April 2024 30,000 30,000
Net book value
At 05 April 2024 0 0
At 05 April 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 06 April 2023 424,884 74,602 499,486
Additions 14,731 9,581 24,312
At 05 April 2024 439,615 84,183 523,798
Accumulated depreciation
At 06 April 2023 0 37,813 37,813
Charge for the financial year 0 11,592 11,592
At 05 April 2024 0 49,405 49,405
Net book value
At 05 April 2024 439,615 34,778 474,393
At 05 April 2023 424,884 36,789 461,673

5. Debtors

2024 2023
£ £
Trade debtors 19,762 17,036
Other debtors 10,427 3,111
30,189 20,147

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,490 16,977
Other taxation and social security 7,486 5,839
Other creditors 510,135 718,293
528,111 741,109

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 191,000 0

The above amount of £191,000 is a loan secured against the freehold property known as Land at Rose Farm, Chyenhal, Buryas Bridge, Penzance. The loan was taken out in April 2020.