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REGISTERED NUMBER: OC441326 (England and Wales)











Report of the Members and

Unaudited Financial Statements

for the Period 8 March 2022 to 31 March 2023

for

TT Cornwall LLP

TT Cornwall LLP (Registered number: OC441326)






Contents of the Financial Statements
for the Period 8 March 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 6


TT Cornwall LLP

General Information
for the Period 8 March 2022 to 31 March 2023







DESIGNATED MEMBERS: Miss V J Hampshire
Ms K Hampshire





REGISTERED OFFICE: 1 Lambourne Avenue
Wheal Kitty
St. Agnes
TR5 0SD





REGISTERED NUMBER: OC441326 (England and Wales)





ACCOUNTANTS: Briants Chartered Accountants
Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA

TT Cornwall LLP (Registered number: OC441326)

Report of the Members
for the Period 8 March 2022 to 31 March 2023

The members present their report with the financial statements of the LLP for the period 8 March 2022 to 31 March 2023.

INCORPORATION
The LLP was incorporated on 8 March 2022 and commenced trading on the same date.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of franchised swimming lessons.

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

Miss V J Hampshire
Ms K Hampshire

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £26,692.

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Miss V J Hampshire - Designated member


14 November 2023

TT Cornwall LLP (Registered number: OC441326)

Income Statement
for the Period 8 March 2022 to 31 March 2023

Notes £   

TURNOVER 149,920

Cost of sales (85,441 )
GROSS PROFIT 64,479

Administrative expenses (37,785 )
OPERATING PROFIT 4 26,694


Interest payable and similar expenses (2 )
PROFIT FOR THE FINANCIAL
PERIOD BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION
AMONG MEMBERS





26,692

TT Cornwall LLP (Registered number: OC441326)

Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Intangible assets 5 18,785
Tangible assets 6 915
19,700

CURRENT ASSETS
Stocks 200
Debtors 7 265
Cash at bank 33,938
34,403
CREDITORS
Amounts falling due within one year 8 23,127
NET CURRENT ASSETS 11,276
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

30,976

LOANS AND OTHER DEBTS DUE
TO MEMBERS

9

30,976

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 30,976

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.

TT Cornwall LLP (Registered number: OC441326)

Balance Sheet - continued
31 March 2023


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 14 November 2023 and were signed by:




Miss V J Hampshire - Designated member




Ms K Hampshire - Designated member


TT Cornwall LLP (Registered number: OC441326)

Notes to the Financial Statements
for the Period 8 March 2022 to 31 March 2023

1. STATUTORY INFORMATION

TT Cornwall 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 3 .

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Depreciation - owned assets 450
Patents and licences amortisation 3,315

TT Cornwall LLP (Registered number: OC441326)

Notes to the Financial Statements - continued
for the Period 8 March 2022 to 31 March 2023

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 22,100
At 31 March 2023 22,100
AMORTISATION
Charge for period 3,315
At 31 March 2023 3,315
NET BOOK VALUE
At 31 March 2023 18,785

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,365
At 31 March 2023 1,365
DEPRECIATION
Charge for period 450
At 31 March 2023 450
NET BOOK VALUE
At 31 March 2023 915

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 265

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 1,724
Other creditors 21,403
23,127

TT Cornwall LLP (Registered number: OC441326)

Notes to the Financial Statements - continued
for the Period 8 March 2022 to 31 March 2023

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
£   
Amounts owed to members in respect of profits 30,976

Falling due within one year 30,976

In the event of the cessation of an LLP, the loans due to partners are the last item to be repaid.