JWT Infrastructures LLP Filleted Accounts Cover
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Registered No. OC367427
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JWT Infrastructures LLP Balance Sheet Registrar
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at
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Registered No.
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Notes
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2021
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2020
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£
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£
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Fixed assets
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Tangible assets
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6
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74,880
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113,577
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Investment property
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7
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120,000
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120,000
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194,880
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233,577
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Current assets
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Debtors
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8
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39,326
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117,401
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Cash at bank and in hand
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4,413
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4,161
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43,739
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121,562
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Creditors: Amounts falling due within one year
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9
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(2,679)
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(24,193)
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Net current assets
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41,060
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97,369
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Total assets less current liabilities
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235,940
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330,946
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Creditors: Amounts falling due after more than one year
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10
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(50,000)
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(59,899)
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Net assets attributable to members
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185,940
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271,047
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Represented by:
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Members' other interests
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Members' capital
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212,486
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265,920
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Revaluation reserve
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47,405
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47,405
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Other reserves
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(73,951)
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(42,278)
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185,940
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271,047
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185,940
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271,047
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As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the members on 31 March 2021
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And signed on its behalf by designated member:
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J. Thomasson
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Designated member
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31 March 2021
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JWT Infrastructures LLP Notes to the Accounts Registrar
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for the year ended 31 March 2021
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1
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General information
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Its registered number is: OC367427
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Its registered office is:
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2
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Accounting policies
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Members' remuneration and division of profits
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Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.
In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense. Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'. |
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Freehold investment property
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Investment property relates to a portfolio of commercial properties. The director has considered the value using market value rent and yields for the location. Therefore, values reflect the open market value of the property as at 31 March 2021. No depreciation is provided in respect of investment properties. |
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Trade and other debtors
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Trade and other creditors
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Provisions
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. |
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Members' Interests
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Members' interests are classified as either equity or debt.
Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves. Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members. |
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Taxation
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3
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Judgements and key sources of estimation
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In the application of the company’s accounting policies, the director is required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There have been no judgements, estimates or assumptions made in the preparation of these financial statements, except for the valuation of the investment properties held within the accounts. The director has considered the value using market value rent and yields for the location. Therefore, values reflect the open market value of the property as at 31 March 2021. |
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4
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Information in relation to members
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2021
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2020
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Number
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Number
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The average number of members during the year :
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0
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1
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5
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Employees
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2021
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2020
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Number
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Number
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The average number of persons employed during the year was:
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6
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Tangible fixed assets
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Motor vehicles
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Fixtures, fittings and equipment
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Total
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£
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£
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£
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Cost
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At 1 April 2020
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Additions
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Disposals
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(
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(
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At 31 March 2021
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Depreciation
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At 1 April 2020
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Charge for the year
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Disposals
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(
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(
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At 31 March 2021
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Net book values
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At 31 March 2021
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At 31 March 2020
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7
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Investment property
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Freehold Investment Property
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£
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Valuation
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At 1 April 2020
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At 31 March 2021
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8
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Debtors
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2021
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2020
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£
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£
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Trade debtors
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Amounts owed by group undertakings
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Prepayments and accrued income
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9
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Creditors:
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amounts falling due within one year
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2021
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2020
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£
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£
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Bank loans and overdrafts
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Obligations under finance lease and hire purchase contracts
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Trade creditors
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Other taxes and social security
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Accruals and deferred income
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10
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Creditors:
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amounts falling due after more than one year
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2021
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2020
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£
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£
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Bank loans and overdrafts
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Obligations under finance lease and hire purchase contracts
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11
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Related party disclosures
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Name of related party
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Description of relationship between the parties
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Mr J Thomasson is a director
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Description of transaction and general amounts involved
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Name of related party
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Description of relationship between the parties
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Mr J Thomasson is a director
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Description of transaction and general amounts involved
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