Limited Liability Partnership registration number OC427714 (England and Wales)
TBL Academy LLP
Annual report and unaudited financial statements
for the year ended 5 April 2023
PAGES FOR FILING WITH REGISTRAR
TBL Academy LLP
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
TBL Academy LLP
Statement Of Financial Position
as at 5 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
62,493
47,261
Cash at bank and in hand
3,152
2,214
65,645
49,475
Creditors: amounts falling due within one year
5
(57,201)
(36,170)
Net current assets
8,444
13,305
Creditors: amounts falling due after more than one year
6
(14,847)
(17,307)
Net liabilities attributable to members
(6,403)
(4,002)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
(6,403)
(4,002)

The members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 5 April 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on
5 April 2023
05 April 2023
and are signed on their behalf by:
05 April 2023
T J Ball
Designated member
Limited Liability Partnership Registration No. OC427714
TBL Academy LLP
Notes to the Financial Statements
for the year ended 5 April 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the amounts recoverable for goods and services provided to clients, in the normal course of business. Turnover is recognised on the performance of service obligations where a right to consideration is due.

Members' participating interests

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are 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.

TBL Academy LLP
Notes to the Financial Statements (continued)
for the year ended 5 April 2023
- 3 -
3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
2
1
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
44,319
31,012
Other debtors
18,174
16,249
62,493
47,261
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
2,070
1,680
Other creditors
55,131
34,490
57,201
36,170
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
14,847
17,307
7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

8
Limited Liability Partnership Information

TBL Academy LLP is a limited liability partnership incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

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