Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalse2023-04-01Investment entity00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC393706 2023-04-01 2024-03-31 OC393706 2022-04-01 2023-03-31 OC393706 2024-03-31 OC393706 2023-03-31 OC393706 c:CurrentFinancialInstruments 2024-03-31 OC393706 c:CurrentFinancialInstruments 2023-03-31 OC393706 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC393706 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC393706 d:FRS102 2023-04-01 2024-03-31 OC393706 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC393706 d:FullAccounts 2023-04-01 2024-03-31 OC393706 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC393706 2 2023-04-01 2024-03-31 OC393706 6 2023-04-01 2024-03-31 OC393706 d:PartnerLLP1 2023-04-01 2024-03-31 OC393706 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC393706 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC393706 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC393706 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC393706 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC393706










WRENBRIDGE (COLWORTH) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WRENBRIDGE (COLWORTH) LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Reconciliation of Members' Interests
3
Notes to the Financial Statements
4 - 7


 
WRENBRIDGE (COLWORTH) LLP
REGISTERED NUMBER: OC393706

BALANCE SHEET
AS AT 31 MARCH 2024

2024
RESTATED 2023
Note
£
£

Fixed assets
  

Investments
 3 
2,142,437
2,123,340

  
2,142,437
2,123,340

Current assets
  

Debtors: amounts falling due within one year
 4 
1,125
1,125

Cash at bank and in hand
 5 
874
608

  
1,999
1,733

Creditors: Amounts Falling Due Within One Year
 6 
(2,794,917)
(2,790,866)

Net current liabilities
  
 
 
(2,792,918)
 
 
(2,789,133)

Total assets less current liabilities
  
(650,481)
(665,793)

  

Net liabilities
  
(650,481)
(665,793)


Represented by:
  

Members' other interests
  

Revaluation reserve classified as equity
  
207,962
188,865

Other reserves classified as equity
  
(858,443)
(854,658)

  
 
(650,481)
 
(665,793)


Total members' interests
  

Members' other interests
  
(650,481)
(665,793)

  
(650,481)
(665,793)


Page 1

 
WRENBRIDGE (COLWORTH) LLP
REGISTERED NUMBER: OC393706
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 13 February 2025.




C Allen
On behalf of PCDF III (Colworth) LLP
Designated member

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
WRENBRIDGE (COLWORTH) LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024





EQUITY
Members' other interests
Revaluation reserve
Other reserves
Total

£
£
£

Balance at 1 April 2022 RESTATED 
211,073
(822,893)
(611,820)

Loss for the year available for discretionary division among members
 
-
(53,973)
(53,973)

Members' interests after loss for the year
211,073
(876,866)
(665,793)

Movement in reserves
 
(22,208)
22,208
-

Balance at 31 March 2023
188,865
(854,658)
(665,793)

Profit for the year available for discretionary division among members
 
-
10,312
10,312

Members' interests after profit for the year
188,865
(844,346)
(655,481)

Members capital introduced
 
-
5,000
5,000

Movement in reserves
 
19,097
(19,097)
-

Balance at 31 March 2024 
207,962
(858,443)
(650,481)

The notes on pages 4 to 7 form part of these financial statements.



Page 3

 
WRENBRIDGE (COLWORTH) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wrenbridge (Colworth) LLP is a limited liability partnership incorporated in England and Wales (OC393706). The registered office is Third Floor Queensbury House, 3 Old Burlington Street, London, W1S 3AE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise
specified within these accounting policies and in accordance with Section 1A of Financial Reporting
Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and
the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP is currently reliant on its members for financial support. The members are committed to the sustainment of the LLP and its property management activities, and are confident that the LLP has the resources to continue operating for at least 12 months from the date the financial statements are authorised. The members have concluded that it is appropriate that the financial statements be prepared on a going concern basis. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the profit and loss account.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.5

Valuation of investments

Investments in subsidiares are measured at fair value. The fair value is calculated as the LLP'S ownership interest in the underlying entities net asset value. The movement year on year is shown as an unrealised gain/loss through the Statement of Comprehensive Income.

Page 4

 
WRENBRIDGE (COLWORTH) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 5

 
WRENBRIDGE (COLWORTH) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Fixed asset investments





Investments

£



Cost or valuation


At 1 April 2023
2,123,340


Revaluations
19,097



At 31 March 2024
2,142,437






Page 6

 
WRENBRIDGE (COLWORTH) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
RESTATED 2023
£
£


Other debtors
1,125
1,125

1,125
1,125



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
874
608

874
608



6.


Creditors: Amounts falling due within one year

2024
RESTATED 2023
£
£

Trade creditors
1,472
1,472

Other creditors
2,706,337
2,704,536

Accruals and deferred income
87,108
84,858

2,794,917
2,790,866



7.


Prior year adjustment

In the prior year there were balances with Colworth Park LP being shown in both debtors and creditors. A prior period restatement was made to net off the balances due to/from the related party entity. The adjustment has had  no impact on the opening net assets of the LLP as at 1 April 2023.

 
Page 7