Company registration number: OC437533
INFORMATION
BALANCE SHEET
AS AT 31 MARCH 2026
Page 1
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 23 July 2026 .
The notes on pages 4 to 6 form part of these financial statements.
Stockwool Studio Two LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
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RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2026
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Stockwool Studio Two LLP is a limited liability partnership, registered in England and Wales, registration number OC437533. The registered office is displayed on the information page and the trading address is the same as the registered office.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Turnover is generated by designing buildings and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Loans and other debts due to members may be further analysed as follows:
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The partnership acts as a guarantor for a loan provided to a partnership within the same group. The liability at the year end was £Nil (2025: £15,625) and is secured over the assets of the partnership by a fixed and floating charge.
Additionally, the LLP has granted a debenture over its assets as security for the parent LLP's overdraft facility. The LLP has also provided an unlimited guarantee in respect of the facility.
Additionally, the LLP has granted a debenture over its assets as security for the parent LLP's overdraft facility. The LLP has also provided an unlimited guarantee in respect of the facility.
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