Company No: OC430075 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	421,052		421,052
		421,052		421,052
Current assets
Debtors	4	861		1,076
Cash at bank and in hand		36,751		42,978
		37,612		44,054
Creditors: amounts falling due within one year	5	( 2,389)		( 1,260)
Net current assets		35,223		42,794
Total assets less current liabilities		456,275		463,846
Net assets attributable to members		456,275		463,846
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		456,275		463,846
		456,275		463,846
Total members' interests
Loans and other debts due to members		456,275		463,846
		456,275		463,846

For the financial year ending 05 April 2026 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 O'Connell Woodland Partnership 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.

The financial statements of The O'Connell Woodland Partnership LLP (registered number: OC430075) were approved and authorised for issue by the members on 16 October 2026. They were signed on its behalf by:

Mrs A O'Connell 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

The O'Connell Woodland Partnership 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 The Farmery, Fore Street, Ivybridge, PL21 9AE, 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 LLP 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 sale of goods is recognised when the goods are physically delivered to the customer.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

not depreciated

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.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 06 April 2025	421,052		421,052
At 05 April 2026	421,052		421,052
Accumulated depreciation
At 06 April 2025	0		0
At 05 April 2026	0		0
Net book value
At 05 April 2026	421,052		421,052
At 05 April 2025	421,052		421,052

4. Debtors

	2026		2025
	£		£
Other debtors	861		1,076

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	1,074		0
Other creditors	1,315		1,260
	2,389		1,260