WG Partners LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—6

Registered number: OC369354

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		430
Investments	5		6		6

			6		436
CURRENT ASSETS
Debtors	6	166,269		316,292
Cash at bank and in hand		130,027		127,045

		296,296		443,337
Creditors: Amounts Falling Due Within One Year	7	(183,621 )		(159,305 )

NET CURRENT ASSETS (LIABILITIES)			112,675		284,032

TOTAL ASSETS LESS CURRENT LIABILITIES			112,681		284,468

NET ASSETS ATTRIBUTABLE TO MEMBERS			112,681		284,468

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		112,681		284,468

			112,681		284,468

			112,681		284,468

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			112,681		284,468

			112,681		284,468

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WG Partners LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 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 applicable to LLPs subject to the small LLPs regime.)

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 accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Ms O M Holme

Designated Member

16 June 2025

The notes on pages 4 to 6 form part of these financial statements.

	EQUITY	DEBT
	Members' other interests	Loans and other debts due to members less any amounts due from members in debtors
	Other Reserves	Other amounts	Total members' interest
	£	£	£
Amounts due to members	-	252,831	-

Balance at 1 April 2023	-	252,831	252,831
Members' remuneration charged as an expense, including employment and retirement benefit costs	-	623,693	623,693
Profit/(loss) for the financial year available for discretionary division among members	-	-	-

Members' interests after profit/(loss) for the year	-	876,524	876,524
Drawings	-	(592,056)	(592,056)

Amounts due to members	-	284,468	-

As at 31 March 2024 and 1 April 2024	-	284,468	284,468


Members' remuneration charged as an expense, including employment and retirement benefit costs	-	783,647	783,647
Profit/(loss) for the financial year available for discretionary division among members	-	-	-

Members' interests after profit/(loss) for the year	-	1,068,115	1,068,115
Drawings	-	(955,434)	(955,434)

Amounts due to members	-	112,681	-

As at 31 March 2025	-	112,681	112,681

Loans and other debts due to members includes a total capital contribution' of £70,000, as required by the LLP's FCA registration, which is held within the partners' capital accounts, for each partner to the extent of their equity share. The balance represents amounts owed to members in respect of profits. They rank equally with debts due to ordinary creditors in the event of a winding up.

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WG Partners LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

1. General Information

WG Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number OC369354 . The Registered Office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

Preparation of consolidated financial statements

The financial statements contain information about WG Partners LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover consists of revenue from the rendering of services; recognised on a work done basis.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% on cost

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Investments

Unlisted investments and subsidiaries are recognised at cost less impairment.

2.6. Other operating income

Income from Shares in group undertakings represents dividend income from a subsidiary undertaking, a Pty based in Australia. Dividends are recognised on the date that they are declared in Australia.

3. Average Number of Employees

Average number of employees, during the year was: 2 (2024: 2)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2024	13,846

As at 31 March 2025	13,846

Depreciation
As at 1 April 2024	13,416
Provided during the period	430

As at 31 March 2025	13,846

...CONTINUED

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WG Partners LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	430

5. Investments

	Subsidiaries	Unlisted	Total
	£	£	£
Cost
As at 1 April 2024	3	3	6

As at 31 March 2025	3	3	6

Provision
As at 1 April 2024	-	-	-

As at 31 March 2025	-	-	-

Net Book Value
As at 31 March 2025	3	3	6

As at 1 April 2024	3	3	6

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	75,670	157,649
Amounts owed by group undertakings	-	44,799
Other debtors	65,999	79,048

	141,669	281,496
Due after more than one year
Other debtors	24,600	34,796

	166,269	316,292

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	32,230	24,722
Amounts owed to group undertakings	17,527	-
Other creditors	127,353	116,986
Taxation and social security	6,511	17,597

	183,621	159,305

8. Capital Commitments

The LLP's FCA registration requires a 'capital contribution' of £70,000; this is held within the partners' capital accounts, for each partner to the extent of their equity share.

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WG Partners LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	153,496	192,854
Later than one year and not later than five years	23,800	103,488

	177,296	296,342

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