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REGISTERED NUMBER: OC412017 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Sheffield Swim School LLP

The Sheffield Swim School LLP (Registered number: OC412017)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

General Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


The Sheffield Swim School LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mrs D Oxley
Mr D L Oxley



REGISTERED OFFICE: 12 Upper Ley Dell
Chapeltown
Sheffield
South Yorkshire
S35 1AL



REGISTERED NUMBER: OC412017 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Lloyds Bank plc
1 High Street
Sheffield
South Yorkshire
S1 2GA

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
The Sheffield Swim School LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of The Sheffield Swim School LLP for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the LLP'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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that The Sheffield Swim School 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 loss of The Sheffield Swim School LLP. You consider that The Sheffield Swim School 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 The Sheffield Swim School 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.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


28 November 2024

The Sheffield Swim School LLP (Registered number: OC412017)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 17,250
Tangible assets 5 - 903
- 18,153

CURRENT ASSETS
Debtors 6 7,377 -
Cash at bank 7,301 25,488
14,678 25,488
CREDITORS
Amounts falling due within one year 7 (7,680 ) (18,335 )
NET CURRENT ASSETS 6,998 7,153
TOTAL ASSETS LESS CURRENT LIABILITIES 6,998 25,306

CREDITORS
Amounts falling due after more than one
year

8

(6,998

)

(13,003

)
NET ASSETS ATTRIBUTABLE TO MEMBERS - 12,303

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

-

12,303

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 - 12,303
Amounts due from members 6 (7,304 ) -
(7,304 ) 12,303

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 year ended 31 March 2024.

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.

The Sheffield Swim School LLP (Registered number: OC412017)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 November 2024 and were signed by:





Mrs D Oxley - Designated member

The Sheffield Swim School LLP (Registered number: OC412017)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

The Sheffield Swim School LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company ceased trading during the year end 31 March 2024. Therefore the financial statements are not prepared on a going concern basis. No material adjustments have arisen due to this basis.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Office Equipment - straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised when the LLP becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2023 - 8 ) .

The Sheffield Swim School LLP (Registered number: OC412017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 57,500
Disposals (57,500 )
At 31 March 2024 -
AMORTISATION
At 1 April 2023 40,250
Eliminated on disposal (40,250 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 17,250

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings Equipment Totals
£    £    £   
COST
At 1 April 2023 3,249 832 4,081
Disposals (3,249 ) (832 ) (4,081 )
At 31 March 2024 - - -
DEPRECIATION
At 1 April 2023 2,346 832 3,178
Eliminated on disposal (2,346 ) (832 ) (3,178 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 903 - 903

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 7,377 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other creditors 7,680 18,335

The Sheffield Swim School LLP (Registered number: OC412017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Other creditors 6,998 13,003

9. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due within one year or on demand:
Loans 6,000 6,000

Amounts falling due between one and two years:
Loans 6,998 13,003

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

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