Limited Liability Partnership registration number OC440260 (England and Wales)
TEMPLE MEWS TRAINING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TEMPLE MEWS TRAINING LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr C N Poole
Mrs S J Poole
LLP registration number
OC440260
Registered office
Temple Mews
Stamford Courtyard
Enville
Stourbridge
DY7 5EX
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Metro Bank Plc
1 Southampton Row
London
WC1B 5HA
TEMPLE MEWS TRAINING LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
TEMPLE MEWS TRAINING LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TEMPLE MEWS TRAINING LLP FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Temple Mews Training LLP for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made solely to the limited liability partnership's members of Temple Mews Training LLP, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Temple Mews Training LLP and state those matters that we have agreed to state to the limited liability partnership's members of Temple Mews Training LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Temple Mews Training LLP and its members as a body, for our work or for this report.

It is your duty to ensure that Temple Mews Training LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Temple Mews Training LLP. You consider that Temple Mews Training LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Temple Mews Training LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
18 July 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TEMPLE MEWS TRAINING LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
138,046
120,389
Current assets
Cash at bank and in hand
840
5,042
Creditors: amounts falling due within one year
4
(29,041)
(25,155)
Net current liabilities
(28,201)
(20,113)
Total assets less current liabilities
109,845
100,276
Creditors: amounts falling due after more than one year
5
(105,208)
(91,950)
Net assets attributable to members
4,637
8,326
Represented by:
Amounts due in respect of profits
4,637
8,326

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 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 18 July 2024 and are signed on their behalf by:
18 July 2024
Mr C N Poole
Mrs S J Poole
Designated member
Designated Member
Limited Liability Partnership Registration No. OC440260
TEMPLE MEWS TRAINING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

Temple Mews Training LLP is a limited liability partnership incorporated in England and Wales. The registered office is Temple Mews, Stamford Courtyard, Enville, Stourbridge, DY7 5EX.

 

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

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, 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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

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.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office and computer equipment
20% Reducing Balance
Motor vehicles
20% Reducing Balance
TEMPLE MEWS TRAINING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Financial instruments
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

2
Employees

The average monthly number of persons (excluding members) employed by the partnership during the year was 0 (2023 - 0).

TEMPLE MEWS TRAINING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Office and computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
4,137
143,279
147,416
Additions
-
87,339
87,339
Disposals
-
(49,750)
(49,750)
At 31 March 2024
4,137
180,868
185,005
Depreciation and impairment
At 1 April 2023
759
26,268
27,027
Depreciation charged in the year
676
28,377
29,053
Eliminated in respect of disposals
-
(9,121)
(9,121)
At 31 March 2024
1,435
45,524
46,959
Carrying amount
At 31 March 2024
2,702
135,344
138,046
At 31 March 2023
3,378
117,011
120,389
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
29,041
25,155
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
105,208
91,950
6
Secured Debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
131,945
115,276

Hire purchase contracts are secured against the assets to which they relate.

TEMPLE MEWS TRAINING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
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.

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