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REGISTERED NUMBER: OC382305 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Woodalls Design LLP

Woodalls Design LLP (Registered number: OC382305)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Woodalls Design LLP (Registered number: OC382305)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 360,694

CURRENT ASSETS
Debtors 5 - 10,988,171
Cash at bank - 2,084,811
- 13,072,982
CREDITORS
Amounts falling due within one year 6 - (9,525,006 )
NET CURRENT ASSETS - 3,547,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

3,908,670

CREDITORS
Amounts falling due after more than one year 7 - (162,110 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

3,746,560

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

3,746,560

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 3,746,560

Woodalls Design LLP (Registered number: OC382305)

Balance Sheet - continued
31 December 2023


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 December 2023.

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved on behalf of the members of the LLP and authorised for issue on 15 January 2025 and were signed by:





Woodalls Office Limited - Designated member

Woodalls Design LLP (Registered number: OC382305)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Woodalls Design LLP is a limited liability partnership, domiciled in England, registration number OC382305. The registered office is Victoria House, 1-3 College Hill, London, England, EC4R 2RA.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and services in respect of office fit projects, excluding value added tax. Turnover is recognised at the appropriate stage of completion and is assessed on a contract by contract basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

The designated members have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts, are capitalised in the balance sheet at their fair value and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet.

The interest elements of the rental obligations are charged to the profit and loss account over the periods of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Woodalls Design LLP (Registered number: OC382305)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 35 (2022 - 39 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 751,530
Additions 66,208
Disposals (817,738 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 390,836
Charge for year 81,059
Eliminated on disposal (471,895 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 360,694

Woodalls Design LLP (Registered number: OC382305)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 253,571
Additions 57,989
Disposals (311,560 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 71,716
Charge for year 36,667
Eliminated on disposal (108,383 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 181,855

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 9,023,829
Amounts recoverable on contract - 1,533,431
Other debtors - 430,911
- 10,988,171

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 30,861
Trade creditors - 1,499,051
Taxation and social security - 2,019,456
Other creditors - 5,975,638
- 9,525,006

Woodalls Design LLP (Registered number: OC382305)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 162,110

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 192,971

Balances due under hire purchase agreements are secured upon the assets to which they relate.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other unsecured creditors of the LLP.

10. RELATED PARTY DISCLOSURES

The trade and assets of the LLP were transferred to Woodalls Office Limited on 01 October 2023.