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REGISTERED NUMBER: OC317790 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ONE WEST SMITHFIELD LLP

ONE WEST SMITHFIELD LLP (REGISTERED NUMBER: OC317790)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ONE WEST SMITHFIELD LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: J C Morgan
C C Okin
Ombeter Properties Limited





REGISTERED OFFICE: 55 Loudoun Road,
St. John's Wood
London
NW8 0DL





REGISTERED NUMBER: OC317790 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

ONE WEST SMITHFIELD LLP (REGISTERED NUMBER: OC317790)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 330,000 330,000

CURRENT ASSETS
Debtors 5 16,221 15,280
Cash at bank 8,382 5,177
24,603 20,457
CREDITORS
Amounts falling due within one year 6 (5,102 ) (2,659 )
NET CURRENT ASSETS 19,501 17,798
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 349,501 347,798

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

123,414

120,259

MEMBERS' OTHER INTERESTS
Revaluation reserve 224,384 224,384
Other reserves 1,703 3,155
349,501 347,798

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 123,414 120,259
Members' other interests 226,087 227,539
349,501 347,798

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.

ONE WEST SMITHFIELD LLP (REGISTERED NUMBER: OC317790)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit And Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 21 March 2025 and were signed by:





Ombeter Properties Limited - Designated member

ONE WEST SMITHFIELD LLP (REGISTERED NUMBER: OC317790)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

One West Smithfield LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Accounting convention
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 rent receivable net of VAT.

Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Service charges
Service charge income collected from tenants is held in trust for the tenants for the payment of service charge expenses. Accordingly these transactions have been excluded from the accounts.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2023 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 330,000
NET BOOK VALUE
At 31 March 2024 330,000
At 31 March 2023 330,000

The designated members assessed the open market value of the investment property at 31 March 2023 as being £330,000.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 16,221 15,280

ONE WEST SMITHFIELD LLP (REGISTERED NUMBER: OC317790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 5,102 2,659

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.