Silverfin false 31/05/2024 01/06/2023 31/05/2024 Graham Keith Huggins 10/08/2005 William Robert Edgar Huggins 01/10/2024 31 January 2025 OC314612 2024-05-31 OC314612 bus:Director1 2024-05-31 OC314612 bus:Director2 2024-05-31 OC314612 2023-05-31 OC314612 core:CurrentFinancialInstruments 2024-05-31 OC314612 core:CurrentFinancialInstruments 2023-05-31 OC314612 core:OtherPropertyPlantEquipment 2023-05-31 OC314612 core:OtherPropertyPlantEquipment 2024-05-31 OC314612 2023-06-01 2024-05-31 OC314612 bus:FullAccounts 2023-06-01 2024-05-31 OC314612 bus:SmallEntities 2023-06-01 2024-05-31 OC314612 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 OC314612 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC314612 bus:Director1 2023-06-01 2024-05-31 OC314612 bus:Director2 2023-06-01 2024-05-31 OC314612 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 OC314612 2022-06-01 2023-05-31 OC314612 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 OC314612 1 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: OC314612 (England and Wales)

W G PARTNERSHIP LLP

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

W G PARTNERSHIP LLP

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

W G PARTNERSHIP LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 May 2024
W G PARTNERSHIP LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 May 2024
DESIGNATED MEMBERS Graham Keith Huggins
William Robert Edgar Huggins (Appointed 01 October 2024)
REGISTERED OFFICE C/O Praxis
1
Poultry
London
EC2R 8EJ
United Kingdom
REGISTERED NUMBER OC314612 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
W G PARTNERSHIP LLP

BALANCE SHEET

As at 31 May 2024
W G PARTNERSHIP LLP

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Current assets
Cash at bank and in hand 176 525
176 525
Creditors: amounts falling due within one year 4 ( 5,073) ( 2,734)
Net current liabilities (4,897) (2,209)
Total assets less current liabilities (4,897) (2,209)
Net liabilities attributable to members ( 4,897) ( 2,209)
Represented by
Loans and other debts due to members within one year
Other amounts 17,479 33,284
17,479 33,284
Members' other interests
Other reserves (22,376) (35,493)
(22,376) (35,493)
(4,897) (2,209)
Total members' interests
Loans and other debts due to members 17,479 33,284
Members' other interests (22,376) (35,493)
(4,897) (2,209)

For the financial year ending 31 May 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of W G Partnership LLP (registered number: OC314612) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Graham Keith Huggins
Designated member
W G PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
W G PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

W G Partnership 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 C/O Praxis, 1, Poultry, London, EC2R 8EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 note that the business has net liabilities of £4,897. The LLP is supported through loans from the members. The members have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the members will continue to support the LLP. Given the current position, the members believe that any foreseeable debts can be met 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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:

Plant and machinery etc. 4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 51,449 51,449
Disposals ( 51,449) ( 51,449)
At 31 May 2024 0 0
Accumulated depreciation
At 01 June 2023 51,449 51,449
Disposals ( 51,449) ( 51,449)
At 31 May 2024 0 0
Net book value
At 31 May 2024 0 0
At 31 May 2023 0 0

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,373 1,036
Other creditors 1,700 1,698
5,073 2,734

5. Financial commitments

The LLP had no material capital commitments at the year ended 31 May 2024.

6. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the LLP since the financial year.