Company No: OC356588 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	134,059		121,115
		134,059		121,115
Current assets
Stocks		32,921		47,605
Debtors	4	50,936		31,069
Cash at bank and in hand		33,387		12,917
		117,244		91,591
Creditors: amounts falling due within one year	5	( 74,576)		( 74,167)
Net current assets		42,668		17,424
Total assets less current liabilities		176,727		138,539
Net assets attributable to members		176,727		138,539
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		138,537		153,501
Other amounts		(11,614)		(63,384)
		126,923		90,117
Members' other interests
Members' capital classified as equity		2		2
Other reserves		49,802		48,420
		49,804		48,422
		176,727		138,539
Total members' interests
Loans and other debts due to members		126,923		90,117
Members' other interests		49,804		48,422
		176,727		138,539

For the financial year ending 28 February 2025 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.

Members' responsibilities:

• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Wesag LLP (registered number: OC356588) were approved and authorised for issue by the Board of Directors on 16 August 2025. They were signed on its behalf by:

Mr A Spence Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wesag LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is North Blagdon, Thorndon Cross, EX20 4NJ, Okehampton, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	4 % reducing balance
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 March 2024	43,633		182,118		64,495		290,246
Additions	0		10,367		33,848		44,215
Disposals	0		0		( 29,109)		( 29,109)
At 28 February 2025	43,633		192,485		69,234		305,352
Accumulated depreciation
At 01 March 2024	3,491		135,336		30,304		169,131
Charge for the financial year	1,606		13,263		8,750		23,619
Disposals	0		0		( 21,457)		( 21,457)
At 28 February 2025	5,097		148,599		17,597		171,293
Net book value
At 28 February 2025	38,536		43,886		51,637		134,059
At 29 February 2024	40,142		46,782		34,191		121,115

4. Debtors

	2025		2024
	£		£
Trade debtors	49,465		22,308
Prepayments	1,471		5,818
VAT recoverable	0		2,943
	50,936		31,069

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	10,930		4,634
Trade creditors	31,395		43,447
Other taxation and social security	2,266		0
Obligations under finance leases and hire purchase contracts	28,385		24,486
Other creditors	1,600		1,600
	74,576		74,167