Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 31 March 2024 31 March 2024 OC362175 Mr A J Smeeth Mrs H J Smeeth Mr J A Smeeth iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC362175 2023-02-28 OC362175 2024-03-31 OC362175 2023-03-01 2024-03-31 OC362175 frs-core:CurrentFinancialInstruments 2024-03-31 OC362175 frs-core:Non-currentFinancialInstruments 2024-03-31 OC362175 frs-core:BetweenOneFiveYears 2024-03-31 OC362175 frs-core:ComputerEquipment 2024-03-31 OC362175 frs-core:ComputerEquipment 2023-03-01 2024-03-31 OC362175 frs-core:ComputerEquipment 2023-02-28 OC362175 frs-core:FurnitureFittings 2024-03-31 OC362175 frs-core:FurnitureFittings 2023-03-01 2024-03-31 OC362175 frs-core:FurnitureFittings 2023-02-28 OC362175 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-03-31 OC362175 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 OC362175 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-03-31 OC362175 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 OC362175 frs-core:MotorVehicles 2024-03-31 OC362175 frs-core:MotorVehicles 2023-03-01 2024-03-31 OC362175 frs-core:MotorVehicles 2023-02-28 OC362175 frs-core:PlantMachinery 2024-03-31 OC362175 frs-core:PlantMachinery 2023-03-01 2024-03-31 OC362175 frs-core:PlantMachinery 2023-02-28 OC362175 frs-core:WithinOneYear 2024-03-31 OC362175 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-03-31 OC362175 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-01 2024-03-31 OC362175 frs-bus:FilletedAccounts 2023-03-01 2024-03-31 OC362175 frs-bus:SmallEntities 2023-03-01 2024-03-31 OC362175 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-03-31 OC362175 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-03-31 OC362175 frs-core:CurrentFinancialInstruments 1 2024-03-31 OC362175 frs-countries:EnglandWales 2023-03-01 2024-03-31 OC362175 frs-bus:PartnerLLP1 2023-03-01 2024-03-31 OC362175 frs-bus:PartnerLLP2 2023-03-01 2024-03-31 OC362175 frs-bus:PartnerLLP3 2023-03-01 2024-03-31 OC362175 2022-02-28 OC362175 2023-02-28 OC362175 2022-03-01 2023-02-28 OC362175 frs-core:CurrentFinancialInstruments 2023-02-28 OC362175 frs-core:Non-currentFinancialInstruments 2023-02-28 OC362175 frs-core:BetweenOneFiveYears 2023-02-28 OC362175 frs-core:WithinOneYear 2023-02-28 OC362175 frs-core:OtherReservesSubtotal 2022-02-28 OC362175 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: OC362175
Tregath LLP
Unaudited Financial Statements
For the Period 1 March 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Reconciliation of Members' Interests 3—5
Notes to the Financial Statements 5—7
Page 1
Balance Sheet
Registered number: OC362175
31 March 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,402,493 1,491,117
2,402,493 1,491,117
CURRENT ASSETS
Debtors 5 44,300 43,964
Cash at bank and in hand 3,689 2,988
47,989 46,952
Creditors: Amounts Falling Due Within One Year 6 (329,367 ) (236,495 )
NET CURRENT ASSETS (LIABILITIES) (281,378 ) (189,543 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,121,115 1,301,574
Creditors: Amounts Falling Due After More Than One Year 7 (940,701 ) (121,534 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,180,414 1,180,040
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 1,180,414 1,180,040
1,180,414 1,180,040
1,180,414 1,180,040
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 1,180,414 1,180,040
1,180,414 1,180,040
Page 1
Page 2
For the period ending 31 March 2024 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
Mr J A Smeeth
Designated Member
30/08/2024
The notes on pages 5 to 7 form part of these financial statements.
Page 2
Page 3
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Members'Capital classified as Equity Other Reserves Total Equity Members'Capital classified as Debt
£ £ £ £
Amounts due to members - - - 15,000
Balance at 1 March 2022 - - - 15,000
Profit/(loss) for the financial year available for discretionary division among members - 105,069 105,069 -
Members' interests after profit/(loss) for the year - 105,069 105,069 15,000
Other divisions of profits (losses) - (105,069) (105,069) -
Introduced by members - - - (15,000)
Drawings - - - -
Amounts due to members - - - -
As at 28 February 2023 and 1 March 2023 - - - -
Profit/(loss) for the financial year available for discretionary division among members - 31,199 31,199 -
Members' interests after profit/(loss) for the year - 31,199 31,199 -
Other divisions of profits (losses) - (31,199) (31,199) -
Introduced by members - - - -
Drawings - - - -
Amounts due to members - - - -
As at 31 March 2024 - - - -
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Other amounts Total Debts Total members' interest
£ £ £
Amounts due to members 1,069,285 1,084,285 -
Balance at 1 March 2022 1,069,285 1,084,285 1,084,285
Profit/(loss) for the financial year available for discretionary division among members - - 105,069
Members' interests after profit/(loss) for the year 1,069,285 1,084,285 1,189,354
...CONTINUED
Page 3
Page 4
Other divisions of profits (losses) 105,069 105,069 -
Introduced by members - (15,000) (15,000)
Drawings 5,686 5,686 5,686
Amounts due to members 1,180,040 1,180,040 -
As at 28 February 2023 and 1 March 2023 1,180,040 1,180,040 1,180,040
Profit/(loss) for the financial year available for discretionary division among members - - 31,199
Members' interests after profit/(loss) for the year 1,180,040 1,180,040 1,211,239
Other divisions of profits (losses) 31,199 31,199 -
Introduced by members - - -
Drawings (30,825) (30,825) (30,825)
Amounts due to members 1,180,414 1,180,414 -
As at 31 March 2024 1,180,414 1,180,414 1,180,414
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Tregath LLP is a limited liability partnership, incorporated in England & Wales, registered number OC362175 . The Registered Office is Tregath Business Park, Camelford Station, Camelford, Devon, PL32 9TX.
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:
Freehold not depreciated
Leasehold not depreciated
Plant & Machinery 10% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2023: NIL)
- -
Page 5
Page 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 March 2023 1,422,975 249,103 5,240 13,802
Additions 807,194 128,975 - 5,227
As at 31 March 2024 2,230,169 378,078 5,240 19,029
Depreciation
As at 1 March 2023 - 194,850 3,030 2,267
Provided during the period - 28,566 553 1,903
As at 31 March 2024 - 223,416 3,583 4,170
Net Book Value
As at 31 March 2024 2,230,169 154,662 1,657 14,859
As at 1 March 2023 1,422,975 54,253 2,210 11,535
Computer Equipment Total
£ £
Cost or Valuation
As at 1 March 2023 945 1,692,065
Additions 1,306 942,702
As at 31 March 2024 2,251 2,634,767
Depreciation
As at 1 March 2023 801 200,948
Provided during the period 304 31,326
As at 31 March 2024 1,105 232,274
Net Book Value
As at 31 March 2024 1,146 2,402,493
As at 1 March 2023 144 1,491,117
5. Debtors
31 March 2024 28 February 2023
£ £
Due within one year
Trade debtors 44,300 43,964
Page 6
Page 7
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,476 -
Trade creditors 21,291 15,872
Bank loans and overdrafts 120,004 36,841
VAT 2,190 3,941
Other creditors 3,028 -
Loan- J Metters 10,000 20,000
Accruals and deferred income 153,378 159,841
329,367 236,495
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 71,453 -
Bank loans 869,248 121,534
940,701 121,534
8. Obligations Under Finance Leases and Hire Purchase
31 March 2024 28 February 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,476 -
Later than one year and not later than five years 71,453 -
90,929 -
90,929 -
Page 7