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REGISTERED NUMBER: OC440765 (England and Wales)


















Report of the Members and

Unaudited Financial Statements

for the Period 25 January 2022 to 31 March 2023

for

Leigh Swim School LLP

Leigh Swim School LLP (Registered number: OC440765)






Contents of the Financial Statements
for the Period 25 January 2022 to 31 March 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Leigh Swim School LLP

General Information
for the Period 25 January 2022 to 31 March 2023







DESIGNATED MEMBERS: Mrs A Mitchell
C Mitchell





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: OC440765 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Leigh Swim School LLP (Registered number: OC440765)

Report of the Members
for the Period 25 January 2022 to 31 March 2023

The members present their report with the financial statements of the LLP for the period 25 January 2022 to 31 March 2023.

INCORPORATION
The LLP was incorporated on 25 January 2022 and commenced trading on 1 October 2022.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of a swim school.

DESIGNATED MEMBERS
The designated members during the period under review were:

Mrs A Mitchell
C Mitchell

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £13,214.

MEMBERS' INTERESTS
Members receive a fixed share of profit for the year, which is transferred to their capital accounts at the year end.

ON BEHALF OF THE MEMBERS:





Mrs A Mitchell - Designated member


13 September 2023

Leigh Swim School LLP (Registered number: OC440765)

Income Statement
for the Period 25 January 2022 to 31 March 2023

Notes £   

TURNOVER 46,456

Cost of sales 9,526
GROSS PROFIT 36,930

Administrative expenses 23,716
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




13,214

Leigh Swim School LLP (Registered number: OC440765)

Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Intangible assets 5 40,500

CURRENT ASSETS
Stocks 445
Debtors 6 411
Cash at bank 19,304
20,160
CREDITORS
Amounts falling due within one year 7 4,697
NET CURRENT ASSETS 15,463
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

55,963

LOANS AND OTHER DEBTS DUE TO
MEMBERS

55,963

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 55,963

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 13 September 2023 and were signed by:





Mrs A Mitchell - Designated member

Leigh Swim School LLP (Registered number: OC440765)

Notes to the Financial Statements
for the Period 25 January 2022 to 31 March 2023

1. STATUTORY INFORMATION

Leigh Swim School LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of net invoiced sales to customers, excluding value added tax, ( having regard to the fulfilment of contractual obligations ).

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 .

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Goodwill amortisation 4,500
Formation costs 300

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 45,000
At 31 March 2023 45,000
AMORTISATION
Charge for period 4,500
At 31 March 2023 4,500
NET BOOK VALUE
At 31 March 2023 40,500

Leigh Swim School LLP (Registered number: OC440765)

Notes to the Financial Statements - continued
for the Period 25 January 2022 to 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 411

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,319
Other creditors 3,378
4,697