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Registered number: OC416776
The South West School of Dance LLP
Unaudited Financial Statements
For The Year Ended 31 July 2023
GC Accounting Ltd
FMAAT
42 Green Lane Avenue
Street
BA16 0QU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC416776
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 399 -
399 -
CURRENT ASSETS
Debtors 5 17,594 19,943
Cash at bank and in hand 3,503 443
21,097 20,386
Creditors: Amounts Falling Due Within One Year 6 (1,200 ) (1,200 )
NET CURRENT ASSETS (LIABILITIES) 19,897 19,186
TOTAL ASSETS LESS CURRENT LIABILITIES 20,296 19,186
NET ASSETS ATTRIBUTABLE TO MEMBERS 20,296 19,186
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 168,556 151,602
168,556 151,602
Equity
Members' other interests
Members' capital (148,382) (132,538)
Other reserves 122 122
(148,260) (132,416)
20,296 19,186
TOTAL MEMBERS' INTEREST
Amounts due from members (17,594) (19,943)
Loans and other debts due to members within one year 168,556 151,602
Members' other interests (148,260) (132,416)
2,702 (757)
Page 1
Page 2
For the year ending 31 July 2023 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Sarah Medwell
Partner
23rd April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The South West School of Dance LLP is a limited liability partnership, incorporated in England & Wales, registered number OC416776 . The Registered Office is 5 Admirals Mead, Butleigh, Glastonbury, BA6 8UE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 Year Straight Line
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was:
2023 2022
Office and administration 1 1
Teaching Staff 3 3
4 4
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2022 -
Additions 599
As at 31 July 2023 599
Depreciation
As at 1 August 2022 -
Provided during the period 200
As at 31 July 2023 200
Net Book Value
As at 31 July 2023 399
As at 1 August 2022 -
5. Debtors
2023 2022
£ £
Due within one year
Amounts due from members 17,594 19,943
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 1,200 1,200
Page 4