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REGISTERED NUMBER: OC335534 (England and Wales)















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: B J West
S West





REGISTERED OFFICE: Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA





REGISTERED NUMBER: OC335534 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
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:

B J West
S West

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:





B J West - Designated member


14 January 2025

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 )
(17,015 ) (17,168 )

Other operating income 382,772 380,658
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




365,757




363,490

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 36,512 11,714
Investments 7 292,762 290,648
329,274 302,362

CURRENT ASSETS
Cash at bank 233,954 450,439
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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 have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 14 January 2025 and were signed by:




B J West - Designated member

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

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 9,128 2,929

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 41,985
Additions 44,981
Disposals (26,990 )
At 31 March 2024 59,976
Depreciation
At 1 April 2023 30,271
Charge for year 9,128
Eliminated on disposal (15,935 )
At 31 March 2024 23,464
Net book value
At 31 March 2024 36,512
At 31 March 2023 11,714

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.