Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity0true2023-09-01false0true OC367399 2023-09-01 2024-08-31 OC367399 2022-09-01 2023-08-31 OC367399 2024-08-31 OC367399 2023-08-31 OC367399 2022-09-01 OC367399 c:CurrentFinancialInstruments 2024-08-31 OC367399 c:CurrentFinancialInstruments 2023-08-31 OC367399 c:CurrentFinancialInstruments 2 2024-08-31 OC367399 c:CurrentFinancialInstruments 2 2023-08-31 OC367399 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 OC367399 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC367399 c:OtherMiscellaneousReserve 2023-09-01 2024-08-31 OC367399 c:OtherMiscellaneousReserve 2024-08-31 OC367399 c:OtherMiscellaneousReserve 2023-08-31 OC367399 c:OtherMiscellaneousReserve 2022-09-01 OC367399 e:FRS102 2023-09-01 2024-08-31 OC367399 e:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 OC367399 e:FullAccounts 2023-09-01 2024-08-31 OC367399 e:LimitedLiabilityPartnershipLLP 2023-09-01 2024-08-31 OC367399 6 2023-09-01 2024-08-31 OC367399 e:PartnerLLP1 2023-09-01 2024-08-31 OC367399 c:FurtherSpecificReserve2ComponentTotalEquity 2024-08-31 OC367399 c:FurtherSpecificReserve2ComponentTotalEquity 2023-08-31 OC367399 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: OC367399









WE8 LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
WE8 LLP
REGISTERED NUMBER: OC367399

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
1,000,001
1,000,001

  
1,000,001
1,000,001

Current assets
  

Debtors
 6 
696,091
681,454

  
696,091
681,454

Creditors: Amounts falling due within one year
 7 
(2,774,481)
(2,772,144)

Net current liabilities
  
 
 
(2,078,390)
 
 
(2,090,690)

  

Net liabilities
  
(1,078,389)
(1,090,689)


Represented by:
  

Members' other interests
  

Other reserves classified as equity
  
(1,078,389)
(1,090,689)

  
 
(1,078,389)
 
(1,090,689)

  
(1,078,389)
(1,090,689)


Total members' interests
  

Amounts due from members (included in debtors)
 6 
(15,354)
(15,354)

Members' other interests
  
(1,078,389)
(1,090,689)

  
(1,093,743)
(1,106,043)


Page 1

 
WE8 LLP
REGISTERED NUMBER: OC367399
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 statement of comprehensive income 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 by: 



Aloran Limited
Designated member

Date: 17 March 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
WE8 LLP
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024


Other reserves
Total equity

£
£


At 1 September 2022
(1,102,990)
(1,102,990)



Profit for discretionary division among members
12,301
12,301



At 1 September 2023
(1,090,689)
(1,090,689)



Profit for discretionary division among members
12,300
12,300


At 31 August 2024
(1,078,389)
(1,078,389)

Page 3

 
WE8 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

WE8 LLP ('the LLP') is a limited liability partnership incorporated under the Limited Liability Partnership Act 2000 and domiciled in England. The address of the LLP's registered office is Regina House, 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements of the LLP 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, the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires the members to exercise their judgment in the process of applying the LLP's accounting policies.
Details of those estimates and/or judgments made in applying the LLP's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

 
2.2

Exemption from preparing consolidated financial statements

The LLP is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare consolidated group financial statements. These financial statements therefore present information about the LLP as an individual undertaking and not about its group.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.4

Going concern

At the balance sheet date, the LLP held net liabilities of £1,078,389 and is dependent on the continued financial support of City & Docklands Management Limited, a company under common control, incorporated under the UK Companies Act 1985 and whose registered office is located at Regina House, 124 Finchley Road, London, NW3 5JS.
Authorised representatives of the members, all of whom are corporate entities, having received confirmation from the directors of City & Docklands Management Limited of their intention to ensure ongoing financial support being made available to the LLP and to not seek immediate repayment of amounts owed by the LLP for a minimum period of twelve months from the date these financial statements were approved have a reasonable expectation that the LLP has available at its disposal adequate resources to continue in operational existence for the foreseeable future.
 
Page 4

 
WE8 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.4
Going concern (continued)

While there will always remain inherent uncertainty, the authorised representatives of the members have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the LLP to continue as a going concern and therefore consider it appropriate to continue adopting the going concern basis in preparing these financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

  
2.5

Taxation

Taxation payable on profits of the LLP is the sole liability of the LLP's members. Consequently, neither income taxation nor related deferred taxation is accounted for in the financial statements of the LLP.

 
2.6

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.7

Fixed asset investments

Fixed asset investments comprise of holdings in unlisted company shares, a form of financial instrument, and are initially recognised at their transaction cost and subsequently measured at cost less provision for impairment at the balance sheet date.

 
2.8

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the balance sheet upon the LLP becoming party to the contractual provisions of the instrument.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the underlying obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities, and equity held is as outlined below:
 
Page 5

 
WE8 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Debtors and creditors
Debtors and creditors, including those payable no later than 12 months from the date of demand, are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment of assets.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the LLP's accounting policies, the members are required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated. 
In the opinion of the authorised representatives of the members, the following judgments, estimates and/or assumptions made in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.
Impairment of investments
Where an indication of impairment is identified the estimation of the recoverable value requires estimation of the future cash flows from the underlying asset and application of appropriate discount rates in order to reflect the time value when calculating the net present value of those cash flows.
Impairment of debtors
When assessing the recoverable value the members, taking into account information that is readily available, consider the forecasted financial performance, the credit rating, ageing profile and historical experience of the debtor.


4.


Employees

The LLP has no employees.


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 September 2023
1,000,001



At 31 August 2024
1,000,001




Page 6

 
WE8 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Debtors

2024
2023
£
£

Falling due within one year

Amounts owed by group undertakings
65,737
53,437

Other debtors
615,000
615,000

Amounts due from members
15,354
13,017

696,091
681,454


Other debtors of £615,000 (2023: £615,000) falling due within one year incur interest at the HM Revenue official rate of interest and are, in the opinion of the designated members, of a fair value deemed not to be materially different from their carrying value. 
Amounts owed by group undertakings and the LLP's members are unsecured, interest-free and repayable on demand with no fixed date of repayment.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2023: £nil).


7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
2,774,481
2,772,144



8.


Financial instruments

The LLP held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


9.


Contingent liabilities

As of the date these financial statements were approved, the LLP has continued to be party to;
 
covenants as part of which the LLP has agreed to repay any outstanding balance on loan facilities inclusive of any interest payable borrowed by a subsidiary undertaking and other connected parties in the event of default; and
an arrangement in which a fixed charge has been granted over its present and future assets in respect of security against subordinated loan agreements entered into by a subsidiary undertaking and other connected parties.

Page 7

 
WE8 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Related party transactions

Group undertakings
The LLP has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between itself and its fellow wholly-owned group undertakings.
Other related parties
At the balance sheet date City & Docklands Management Limited, a company under common control, was owed £2,731,231 (2023: £2,728,894). Amounts owed by the LLP are unsecured, interest-free and repayable on demand with no fixed date of repayment.
At the balance sheet date Amber Quay Limited and Landeck Services Limited, companies under common control, owed the LLP £600,000 and £15,000 (2023: £600,000 and £15,000) respectively. Amounts owed are unsecured, interest bearing at the HM Revenue official rate of interest and repayable on demand with no fixed date of repayment.
There were no other related party transactions and/or period end balances to report in accordance with the Companies Act 2006, the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" and Section 1A of Financial Reporting Standard 102 as part of these financial statements.

 
Page 8