Wake Up Your Wealth LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC404121

Wake Up Your Wealth LLP

Filleted Unaudited Financial Statements

28 February 2025

Wake Up Your Wealth LLP

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Current assets

Debtors	5	16,480	3,468
Cash at bank and in hand		20,831	36,407
		--------	--------
		37,311	39,875

Creditors: amounts falling due within one year	6	4,180	2,900
		--------	--------
Net current assets		33,131	36,975
		--------	--------
Total assets less current liabilities		33,131	36,975

Creditors: amounts falling due after more than one year	7	–	349
		--------	--------
Net assets		33,131	36,626
		--------	--------

Represented by:

Loans and other debts due to members

Other amounts	8	31,964	35,459

Members' other interests

Other reserves	1,167	1,167
	--------	--------
	33,131	36,626
	--------	--------

Total members' interests

Loans and other debts due to members	8	31,964	35,459
Members' other interests		1,167	1,167
		--------	--------
		33,131	36,626
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the 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) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Wake Up Your Wealth LLP

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the members and authorised for issue on 19 November 2025 , and are signed on their behalf by:

Mr G Neall

Designated Member

Registered number: OC404121

Wake Up Your Wealth LLP

Notes to the Financial Statements

Year ended 28 February 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Powerhouse 21, 21 Woodthorpe Road, Ashford, Middlesex, TW152RP.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A 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' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Members' participation rights

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.

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'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

4.	Tangible assets

	Equipment
	£
Cost
At 1 March 2024 and 28 February 2025	5,017
	-------
Depreciation
At 1 March 2024 and 28 February 2025	5,017
	-------
Carrying amount
At 28 February 2025	–
	-------
At 29 February 2024	–
	-------

5.	Debtors

	2025	2024
	£	£
Other debtors	16,480	3,468
	--------	-------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	4,180	2,900
	-------	-------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Social security and other taxes	–	349
	----	----

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	31,964	35,459
	--------	--------