WG Stud LLP OC448850 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is breeding and producing young horses Digita Accounts Production Advanced 6.30.9574.0 true OC448850 2024-04-01 2025-03-31 OC448850 2025-03-31 OC448850 core:OtherReservesSubtotal 2025-03-31 OC448850 core:CurrentFinancialInstruments 2025-03-31 OC448850 core:WithinOneYear 2025-03-31 OC448850 core:LandBuildings core:LongLeaseholdAssets 2025-03-31 OC448850 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 OC448850 core:MotorVehicles 2025-03-31 OC448850 core:PlantMachinery 2025-03-31 OC448850 bus:SmallEntities 2024-04-01 2025-03-31 OC448850 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC448850 bus:FilletedAccounts 2024-04-01 2025-03-31 OC448850 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC448850 bus:RegisteredOffice 2024-04-01 2025-03-31 OC448850 bus:PartnerLLP1 2024-04-01 2025-03-31 OC448850 bus:PartnerLLP2 2024-04-01 2025-03-31 OC448850 bus:PartnerLLP3 2024-04-01 2025-03-31 OC448850 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC448850 core:Buildings 2024-04-01 2025-03-31 OC448850 core:Land 2024-04-01 2025-03-31 OC448850 core:LandBuildings core:LongLeaseholdAssets 2024-04-01 2025-03-31 OC448850 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC448850 core:MotorVehicles 2024-04-01 2025-03-31 OC448850 core:PlantMachinery 2024-04-01 2025-03-31 OC448850 core:VehiclesPlantMachinery 2024-04-01 2025-03-31 OC448850 countries:AllCountries 2024-04-01 2025-03-31 OC448850 2024-03-31 OC448850 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 OC448850 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 OC448850 core:MotorVehicles 2024-03-31 OC448850 core:PlantMachinery 2024-03-31 OC448850 2023-08-25 2024-03-31 OC448850 2024-03-31 OC448850 core:OtherReservesSubtotal 2024-03-31 OC448850 core:CurrentFinancialInstruments 2024-03-31 OC448850 core:WithinOneYear 2024-03-31 OC448850 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 OC448850 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 OC448850 core:MotorVehicles 2024-03-31 OC448850 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: OC448850

WG Stud LLP
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

WG Stud LLP

Contents

Limited liability partnership information | 1
Financial Statements | 2 to 9
Balance Sheet | 2
Notes to the Financial Statements | 4

WG Stud LLP

Limited liability partnership information

Members | Mrs Hazel Suzan Bradshaw Mr John Offord Miss Joanne Margaret Offord

Registered office | Bramlow Langford Lane Wendlebury Bicester OX25 2NS

Accountants | Charter Tax Consulting Limited 8th Floor 1 Southampton Street London WC2R 0LR

WG Stud LLP

(Registration number: OC448850)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 3 | 358,632 | 365,718
Current assets |  |  |
Stocks | 4 | 44,339 | 38,047
Debtors | 5 | 13,270 | 14,777
Cash and short-term deposits |  | 1,670 | 5,319
|  | 59,279 | 58,143
Creditors: Amounts falling due within one year | 6 | (28,534) | (57,141)
Net current assets |  | 30,745 | 1,002
Net assets attributable to members |  | 389,377 | 366,720
Represented by: |  |  |
Loans and other debts due to members |  |  |
Members' capital classified as a liability |  | 494,986 | 377,746
Members’ other interests |  |  |
Other reserves |  | (105,609) | (11,026)
|  | 389,377 | 366,720
Total members' interests |  |  |
Loans and other debts due to members |  | 494,986 | 377,746
Equity |  | (105,609) | (11,026)
|  | 389,377 | 366,720

WG Stud LLP

(Registration number: OC448850)
Balance Sheet as at 31 March 2025

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

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. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of WG Stud LLP (registered number OC448850) were approved by the Board and authorised for issue on 25 March 2026. They were signed on behalf of the limited liability partnership by:

Mrs Hazel Suzan Bradshaw Member | Mr John Offord Member | Miss Joanne Margaret Offord Member

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of WG Stud LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of horses or saddlery items and provision of livery services.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Revenue in respect to the sale of horses or saddlery items is recognised at the point of transfer of ownership and revenue for livery services is recognised when the services are provided.

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Members' remuneration and division of profits

The LLP agreement provides that each Member shall be at liberty to draw out for his separate use on account of his accruing profit share for the then current Accounting Period such monthly amount as the Members shall decide by Unanimous Resolution.
A member's share of the profit or loss for the year is accounted for as an allocation of profits or losses after they have signed the Annual Accounts in respect of that Accounting Period.
Unallocated profits and losses are included within 'other reserves'.
Other than their share of profits, no Member shall be entitled to remuneration for acting in the business or management of the LLP.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class | Depreciation method and rate
Buildings | 30 Year straight line basis based on date of acquisition
Horses | 30 Year straight line basis based on date of acquisition
Land | Not depreciated
Plant and Machinery | 25% Reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Post-retirement payments to former members

The Retirement Capital of any former Member and any Advance owing to that Member and any undrawn share of profits of that Member (calculated to the Cessation Date), shall be repaid to him (or his personal representatives) by the LLP within 6 months of the Cessation Date or, in the case of profits to the Cessation Date, within 6 months after the end of the current Accounting Period (if such date is later), together with interest at the Interest Rate calculated from the Cessation Date to the date of payment.

2 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 11 (2024 - 9).

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

3 | Tangible fixed assets

| Freehold buildings £ | Freehold Land £ | Plant and machinery £ | Horses £
Cost |  |  |  |
At 1 April 2024 | 103,390 | 222,500 | 20,000 | 28,333
Additions | - | - | 5,000 | -
At 31 March 2025 | 103,390 | 222,500 | 25,000 | 28,333
Depreciation |  |  |  |
At 1 April 2024 | 2,105 | - | 5,000 | 1,400
Charge for the year | 3,608 | - | 3,854 | 4,624
At 31 March 2025 | 5,713 | - | 8,854 | 6,024
Net book value |  |  |  |
At 31 March 2025 | 97,677 | 222,500 | 16,146 | 22,309
At 31 March 2024 | 101,285 | 222,500 | 15,000 | 26,933

| Total £
Cost |
At 1 April 2024 | 374,223
Additions | 5,000
At 31 March 2025 | 379,223
Depreciation |
At 1 April 2024 | 8,505
Charge for the year | 12,086
At 31 March 2025 | 20,591
Net book value |
At 31 March 2025 | 358,632
At 31 March 2024 | 365,718

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

The partners consider the market value of land additions to be £222,500.

4 | Stocks

| 2025 £ | 2024 £
Saddlery Stocks | 30,339 | 28,047
Horses in Stock | 14,000 | 10,000
| 44,339 | 38,047

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 3,473 | 1,386
Other debtors | 4,367 | 2,175
Prepayments and accrued income | 5,430 | 11,216
Total current trade and other debtors | 13,270 | 14,777

WG Stud LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

6 | Creditors: Amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 25,560 | 48,517
Other creditors | 974 | 6,624
Accruals and deferred income | 2,000 | 2,000
| 28,534 | 57,141

7 | Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.