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REGISTERED NUMBER: OC393300 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2024

for

Wallwork Sturmer LLP

Wallwork Sturmer LLP (Registered number: OC393300)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Wallwork Sturmer LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: C Sturmer
N J Wallwork
Deedeedee Ltd
Sturmer Capital Ltd
Wallwork Capital Ltd
Wallmer Asset Management Ltd





REGISTERED OFFICE: 49 London Street
Reading
RG1 4PS





REGISTERED NUMBER: OC393300 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Wallwork Sturmer LLP (Registered number: OC393300)

Report of the Members
for the Year Ended 31st March 2024

The members present their report with the financial statements of the LLP for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property rental.

DESIGNATED MEMBERS
The designated members during the year under review were:

C Sturmer
N J Wallwork
Deedeedee Ltd
Sturmer Capital Ltd
Wallwork Capital Ltd
Wallmer Asset Management Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £910,033 (2023 - £103,635 profit).

MEMBERS' INTERESTS
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:





C Sturmer - Designated member


28th March 2025

Wallwork Sturmer LLP (Registered number: OC393300)

Income Statement
for the Year Ended 31st March 2024

2024 2023
Notes £    £   

TURNOVER 857,335 825,982

Cost of sales (384,844 ) (352,612 )
GROSS PROFIT 472,491 473,370

Administrative expenses (208,990 ) (168,130 )
263,501 305,240

Gain/loss on revaluation of investment
property

893,923

-
OPERATING PROFIT 4 1,157,424 305,240

Interest receivable and similar income - 39
1,157,424 305,279

Interest payable and similar expenses (247,391 ) (201,644 )
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



910,033



103,635

Wallwork Sturmer LLP (Registered number: OC393300)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 5,568 7,424
Investment property 6 12,559,885 6,308,100
12,565,453 6,315,524

CURRENT ASSETS
Stocks 7 - 5,357,863
Debtors 8 1,600 2,074
Cash at bank 22,398 36,243
23,998 5,396,180
CREDITORS
Amounts falling due within one year 9 (1,106,078 ) (977,892 )
NET CURRENT (LIABILITIES)/ASSETS (1,082,080 ) 4,418,288
TOTAL ASSETS LESS CURRENT LIABILITIES 11,483,373 10,733,812

CREDITORS
Amounts falling due after more than one
year

10

(6,574,588

)

(6,735,060

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 4,908,785 3,998,752

LOANS AND OTHER DEBTS DUE TO
MEMBERS

12

4,908,785

3,998,752

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 12 4,908,785 3,998,752

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 31st 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.

Wallwork Sturmer LLP (Registered number: OC393300)

Balance Sheet - continued
31st March 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 28th March 2025 and were signed by:




C Sturmer - Designated member




- Designated member


Wallwork Sturmer LLP (Registered number: OC393300)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Wallwork Sturmer 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

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 1,856 2,474

Wallwork Sturmer LLP (Registered number: OC393300)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 297 21,996 22,293
DEPRECIATION
At 1st April 2023 297 14,572 14,869
Charge for year - 1,856 1,856
At 31st March 2024 297 16,428 16,725
NET BOOK VALUE
At 31st March 2024 - 5,568 5,568
At 31st March 2023 - 7,424 7,424

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 6,308,100
Additions 5,357,862
Revaluations 893,923
At 31st March 2024 12,559,885
NET BOOK VALUE
At 31st March 2024 12,559,885
At 31st March 2023 6,308,100

Fair value at 31st March 2024 is represented by:
£   

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 6,308,100
Additions 5,357,862
Revaluations 893,923
12,559,885

CLIENT SCREEN TOTAL = -


Wallwork Sturmer LLP (Registered number: OC393300)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

6. INVESTMENT PROPERTY - continued

The members see no real benefit in revaluing the properties.

7. STOCKS
2024 2023
£    £   
Southern Court - 2,162,580
Sherwood House - 3,195,283
- 5,357,863

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,600 2,074

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans 189,704 189,704
Trade creditors 4,143 6,092
Social security and other taxes - 212
VAT 395 978
Other creditors 880,901 749,971
Accrued expenses 30,935 30,935
1,106,078 977,892

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Loans 6,506,069 6,654,709
Bounceback loans 68,519 80,351
6,574,588 6,735,060

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 6,695,772 6,844,413

12. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.

Wallwork Sturmer LLP (Registered number: OC393300)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

13. RELATED PARTY DISCLOSURES

At the year end, Wallwork Sturmer LLP owed £880,901 (2023: £749,971) to related companies. This balance is included within other creditors.