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Registered number: OC443141
WHETSTONE TRAVELODGE LLP
Unaudited
Financial statements
For the Year Ended 31 March 2025
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WHETSTONE TRAVELODGE LLP
Contents
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Statement of Comprehensive Income
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Statement of Financial Position
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Reconciliation of Members' Interests
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Notes to the Financial Statements
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WHETSTONE TRAVELODGE LLP
Members' Report
For the Year Ended 31 March 2025
The members present their annual report together with the unaudited financial statements of Whetstone Travelodge LLP (the 'LLP') for the year ended 31 March 2025.
The LLP was formed on 15 July 2022 under Limited Liability Partnership Act 2000.
Principal activities
The principal activity of the LLP during the year was that of a holding entity.
Designated members
The designated members who served the LLP during the year and up to date of this report were as follows:
Suraj Rashmikant Shah
Manish Gudka
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are not permitted to make drawings in anticipation of profits which will be allocated to them.
Members will subscribe the level of capital in proportion to the loan amounts advanced by them to LLP.
No members shall have the right, directly or indirectly, to withdraw or receive back any part of the amount standing to the credit of his Capital account, except upon the winding up of the LLP.
Results for the year
The result for this reporting year amounted to £Nil (2024: loss of £422).
This report was approved by the members and signed on their behalf by:
Manish Gudka
Designated Member
Registered office:
1st Floor
88 Baker Street
London
England
W1U 6TQ
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WHETSTONE TRAVELODGE LLP
Statement of Comprehensive Income
For the Year Ended 31 March 2025
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Interest receivable and similar income
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Profit/(loss) for the year before members' remuneration and profit shares available for discretionary division among members
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Total comprehensive income/(loss) for the financial year
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All the activities of the LLP are from continuing operations.
The notes on pages 6 to 9 form part of these financial statements.
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WHETSTONE TRAVELODGE LLP
Registered number: OC443141
Statement of Financial Position
As at 31 March 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Loans and other debts due to members
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Members' capital classified as equity
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Other reserves classified as equity
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Loans and other debts due to members
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WHETSTONE TRAVELODGE LLP
Registered number: OC443141
Statement of Financial Position (continued)
As at 31 March 2025
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
The LLP 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 were approved and authorised for issue by the members and were signed on their behalf by:
The notes on pages 6 to 9 form part of these financial statements.
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WHETSTONE TRAVELODGE LLP
Reconciliation of Members' Interests
For the Year Ended 31 March 2025
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Equity
Members' other interests
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Debt
Loans and other debts due to members less any amounts due from members in debtors
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Members' capital (classified as equity)
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Loss for the year available for discretionary division among members
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Result for the year available for discretionary division among members
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WHETSTONE TRAVELODGE LLP
Notes to the Financial Statements
For the Year Ended 31 March 2025
Whetstone Travelodge LLP (the 'LLP') is registered in England and Wales. The address of the registered office is 1st Floor, 88 Baker Street, London, W1U 6TQ, England.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements 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 and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
These financial statements are presented in Sterling (£), which is the functional currency of the entity. All amounts are rounded to the nearest Pound (£), except when otherwise indicated.
The following principal accounting policies have been applied:
These financial statements have been prepared on the going concern basis. The basis assumes that the LLP will be able to meet its obligations as they arise for the foreseeable future.
Taxation on LLP profits is the personal liability of the members and consequently neither taxation nor deferred taxation is accounted for in these financial statements.
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Members' participation rights
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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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of Comprehensive Income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of Financial Position.
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WHETSTONE TRAVELODGE LLP
Notes to the Financial Statements
For the Year Ended 31 March 2025
2.Accounting policies (continued)
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Members' participation rights (continued)
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Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of Comprehensive Income and are equity appropriations in the Statement of Financial Position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Statement of Comprehensive Income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.
Investments in subsidiaries are measured at cost less accumulated impairment.
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of Interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
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The LLP has no employees other than the members, who did not receive any remuneration during the year (2024: £Nil).
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WHETSTONE TRAVELODGE LLP
Notes to the Financial Statements
For the Year Ended 31 March 2025
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Investments in subsidiary undertakings
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The following were subsidiary undertakings of the LLP:
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Whetstone Travelodge Group Finco Limited
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Whetstone Travelodge Property Limited
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The aggregate of the share capital and reserves as at 31 March 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Whetstone Travelodge Group Finco Limited
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Whetstone Travelodge Property Limited
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WHETSTONE TRAVELODGE LLP
Notes to the Financial Statements
For the Year Ended 31 March 2025
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Debtors: amounts falling due within one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings relate to amounts due from Whetstone Travelodge Group Finco Limited, which are unsecured, interest free and repayable upon demand.
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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The amounts owed to group undertakings are unsecured, interest free and repayable on demand.
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Loans and other debts due to members
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Loans from members are unsecured, interest free and repayable on demand.
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