REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
West Franklin Management LLP |
REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
West Franklin Management LLP |
West Franklin Management LLP (Registered number: OC335534) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 5 |
West Franklin Management LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
West Franklin Management LLP (Registered number: OC335534) |
Report of the Members |
for the Year Ended 31 March 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of music retailing. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £365,757 (2023 - £363,490 profit). |
MEMBERS' INTERESTS |
Any assets introduced to the LLP or any profits attributable to the member will be credited to the capital account of the member. Drawings and capital repayment will be paid to the members on a basis to be agreed by the members from time to time. |
ON BEHALF OF THE MEMBERS: |
West Franklin Management LLP (Registered number: OC335534) |
Income Statement |
for the Year Ended 31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ |
REVENUE |
Administrative expenses | ( |
) | ( |
) |
(17,015 | ) | (17,168 | ) |
Other operating income |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
West Franklin Management LLP (Registered number: OC335534) |
Statement of Financial Position |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 6 |
Investments | 7 |
CURRENT ASSETS |
Cash at bank |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
563,228 |
752,801 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 563,228 | 752,801 |
563,228 | 752,801 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 563,228 | 752,801 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
The financial statements were approved by the members of the LLP and authorised for issue on |
West Franklin Management LLP (Registered number: OC335534) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
West Franklin Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Motor vehicles | - |
Taxation |
The taxation payable on the partnership profits is solely the personal liability of the individual members and consequently neither partnership taxation, nor related deferred taxation arising in respect of the partnership, are accounted for in these financial statements. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
31/3/24 | 31/3/23 |
£ | £ |
Depreciation - owned assets |
West Franklin Management LLP (Registered number: OC335534) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Motor |
vehicles |
£ |
Cost |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
7. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31/3/24 | 31/3/23 |
£ | £ |
Brought forward | 290,648 | 591,136 |
Net movement | 2,114 | (300,488 | ) |
292,762 | 290,648 |
The fixed asset investment represents the LLP's investment in Andertons Music Company Partnership. |