Limited Liability Partnership registration number OC363599 (England and Wales)
WAL-KER MANAGEMENT (SEVENOAKS) LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
WAL-KER MANAGEMENT (SEVENOAKS) LLP
CONTENTS
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 8
WAL-KER MANAGEMENT (SEVENOAKS) LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
2
622,783
634,471
Current assets
Cash at bank and in hand
18,660
10,446
Creditors: amounts falling due within one year
3
(132,773)
(127,460)
Net current liabilities
(114,113)
(117,014)
Total assets less current liabilities
508,670
517,457
Creditors: amounts falling due after more than one year
4
(143,938)
(227,758)
Net assets attributable to members
364,732
289,699
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
30,000
30,000
Other amounts
253,845
211,887
283,845
241,887
Members' other interests
Other reserves classified as equity
80,887
47,812
364,732
289,699
Total members' interests
Loans and other debts due to members
283,845
241,887
Members' other interests
80,887
47,812
364,732
289,699

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

WAL-KER MANAGEMENT (SEVENOAKS) LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 22 May 2025 and are signed on their behalf by:
22 May 2025
Mr E Walker
Designated member
Limited Liability Partnership Registration No. OC363599
WAL-KER MANAGEMENT (SEVENOAKS) LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital (classified as debt)
Other amounts
Total
Total
2025
£
£
£
£
Amounts due to members
211,887
Members' interests at 1 April 2024
47,812
30,000
211,887
241,887
289,699
Profit for the financial year available for discretionary division among members
33,075
-
-
-
33,075
Members' interests after profit for the year
80,887
30,000
211,887
241,887
322,774
Introduced by members
-
-
51,958
51,958
51,958
Repayment of debt (including members' capital classified as a liability)
-
-
(10,000)
(10,000)
(10,000)
Members' interests at 31 March 2025
80,887
30,000
253,845
283,845
364,732
WAL-KER MANAGEMENT (SEVENOAKS) LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital (classified as debt)
Other amounts
Total
Total
2024
£
£
£
£
Amounts due to members
211,887
Members' interests at 1 April 2023
10,907
30,000
211,887
241,887
252,794
Profit for the financial year available for discretionary division among members
36,905
-
-
-
36,905
Members' interests after profit for the year
47,812
30,000
211,887
241,887
289,699
Members' interests at 31 March 2024
47,812
30,000
211,887
241,887
289,699

There are no repayment terms in respect of the loans from members.

WAL-KER MANAGEMENT (SEVENOAKS) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Limited liability partnership information

Wal-Ker Management (Sevenoaks) LLP is a limited liability partnership incorporated in England and Wales. The registered office is North House, 198 High Street, Tonbridge, Kent, TN9 1BE.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rent and service charges from licences, net of VAT.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

WAL-KER MANAGEMENT (SEVENOAKS) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.4
Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% on the straight line basis - buildings only
Fixtures, fittings & equipment
25% on the reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The LLP only has financial instruments which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

 

Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

WAL-KER MANAGEMENT (SEVENOAKS) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
755,644
89,892
845,536
Depreciation and impairment
At 1 April 2024
127,617
83,448
211,065
Depreciation charged in the year
10,075
1,613
11,688
At 31 March 2025
137,692
85,061
222,753
Carrying amount
At 31 March 2025
617,952
4,831
622,783
At 31 March 2024
628,027
6,444
634,471
WAL-KER MANAGEMENT (SEVENOAKS) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
3
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
63,583
60,175
Taxation and social security
6,622
6,650
Other creditors
62,568
60,635
132,773
127,460
4
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
143,938
227,758
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
8,751
39,975

The bank loans are secured by fixed charges over the LLP's freehold property.

5
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.

2025-03-312024-04-01falsefalse22 May 2025CCH SoftwareCCH Accounts Production 2025.100false0OC3635992024-04-012025-03-31OC3635992025-03-31OC363599bus:PartnerLLP22024-04-012025-03-31OC363599bus:LimitedLiabilityPartnershipLLP2024-04-012025-03-31OC363599bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-31OC363599bus:FRS1022024-04-012025-03-31OC363599bus:AuditExemptWithAccountantsReport2024-04-012025-03-31OC363599bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:shares