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REGISTERED NUMBER: OC413565 (England and Wales)




















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2023 TO 31 MARCH 2024

FOR

WEP PROPERTIES LLP

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024










Page

General Information 1

Report of the Members 2

Income Statement 4

Balance Sheet 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


WEP PROPERTIES LLP

GENERAL INFORMATION
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: A Aliyev
Events & Freight Solutions Limited





REGISTERED OFFICE: Ikra Park
Ikra Park, Mulberry Way
Belvedere
Kent
DA17 6AN





REGISTERED NUMBER: OC413565 (England and Wales)





ACCOUNTANTS: Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

REPORT OF THE MEMBERS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


The members present their report with the financial statements of the LLP for the period 1 October 2023 to 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of development of building projects.

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

A Aliyev
Events & Freight Solutions Limited

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £6,626 (2023 - £45,346 profit).

MEMBERS' INTERESTS
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

FIXED ASSETS
Changes in fixed assets are shown in note 4 to the financial statements.

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.


WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

REPORT OF THE MEMBERS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:





A Aliyev - Designated member


24 April 2025

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

INCOME STATEMENT
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024

PERIOD
1.10.23
TO YEAR ENDED
31.3.24 30.9.23
Notes £    £   

REVENUE 10,800 53,000

Administrative expenses (4,680 ) (8,225 )
OPERATING PROFIT 6,120 44,775

Interest receivable and similar income 506 571
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




6,626




45,346

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 1,062,633 1,062,633

CURRENT ASSETS
Debtors 6 39,000 -
Cash at bank and in hand 103,210 133,784
142,210 133,784
CREDITORS
Amounts falling due within one year 7 (22,946 ) (21,146 )
NET CURRENT ASSETS 119,264 112,638
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,181,897

1,175,271

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,144,357

1,137,731

CAPITAL ACCOUNTS
Capital accounts 37,540 37,540
1,181,897 1,175,271

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,144,357 1,137,731
Capital accounts 37,540 37,540
1,181,897 1,175,271

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 period 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.

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

BALANCE SHEET - continued
31 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 24 April 2025 and were signed by:





A Aliyev - Designated member

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 October 2023 37,540 - 37,540
Profit for the financial period available for
discretionary division among members

-

6,626

6,626
Members' interests after profit for the period 37,540 6,626 44,166
Other divisions of profit - (6,626 ) (6,626 )
Balance at 31 March 2024 37,540 - 37,540

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 1,137,731
Amount due from members -
Balance at 1 October 2023 1,137,731 1,175,271
Profit for the financial period available for
discretionary division among members

-

6,626

Members' interests after profit for the period 1,137,731 1,181,897
Other divisions of profit 6,626 -
Amount due to members 1,144,357
Amount due from members -
Balance at 31 March 2024 1,144,357 1,181,897

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 October 2022 37,540 - 37,540
Profit for the financial period available for
discretionary division among members

-

45,346

45,346
Members' interests after profit for the period 37,540 45,346 82,886
Other divisions of profit - (45,346 ) (45,346 )
Introduced by members - - -
Balance at 30 September 2023 37,540 - 37,540

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 1,042,385
Amount due from members -
Balance at 1 October 2022 1,042,385 1,079,925
Profit for the financial period available for
discretionary division among members

-

45,346

Members' interests after profit for the period 1,042,385 1,125,271
Other divisions of profit 45,346 -
Introduced by members 50,000 50,000
Amount due to members 1,137,731
Amount due from members -
Balance at 30 September 2023 1,137,731 1,175,271

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Wep Properties 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.

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

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value,less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made.

Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as creditors falling due within one year if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as creditors falling due after one year.

Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

3. EMPLOYEE INFORMATION

There were no staff costs for the period ended 31 March 2024 nor for the year ended 30 September 2023.

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

4. INFORMATION IN RELATION TO MEMBERS

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


PERIOD
1.10.23
TO YEAR ENDED
31.3.24 30.9.23

The average number of members during the period was 2 2

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 October 2023
and 31 March 2024 1,062,633
NET BOOK VALUE
At 31 March 2024 1,062,633
At 30 September 2023 1,062,633

Investment property was valued on an open market basis by the members.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related
company 39,000 -
39,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 18,145 18,145
Accrued expenses 4,801 3,001
22,946 21,146

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Loans from members 1,092,385 1,092,385
Amounts owed to members in respect of profits 51,972 45,346
1,144,357 1,137,731

Falling due within one year 1,144,357 1,137,731

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

WEP PROPERTIES LLP (REGISTERED NUMBER: OC413565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


9. RELATED PARTY DISCLOSURES

At the year end loan from one of the designated member is £1,092,385 (2023: £1,092,385).

One of the designated member is a director and shareholder of another trading company.The amount due to Wep Properties LLP from that company was £39,000 (2023:£Nil).