IRIS Accounts Production v24.2.0.383 OC438288 designated member designated member 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4382882023-07-31OC4382882024-07-31OC4382882023-08-012024-07-31OC4382882022-07-31OC4382882022-08-012023-07-31OC4382882023-07-31OC438288ns15:EnglandWales2023-08-012024-07-31OC438288ns14:PoundSterling2023-08-012024-07-31OC438288ns10:PartnerLLP12023-08-012024-07-31OC438288ns10:PartnerLLP22023-08-012024-07-31OC438288ns10:LimitedLiabilityPartnershipLLP2023-08-012024-07-31OC438288ns10:SmallEntities2023-08-012024-07-31OC438288ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31OC438288ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31OC438288ns10:LimitedLiabilityPartnershipsSORP2023-08-012024-07-31OC438288ns10:FullAccounts2023-08-012024-07-31OC438288ns10:RegisteredOffice2023-08-012024-07-31OC438288ns5:CurrentFinancialInstruments2024-07-31OC438288ns5:CurrentFinancialInstruments2023-07-31OC438288ns5:PlantMachinery2023-08-012024-07-31OC438288ns5:PlantMachinery2023-07-31OC438288ns5:PlantMachinery2024-07-31OC438288ns5:PlantMachinery2023-07-31OC438288ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31OC438288ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: OC438288 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

NEXT LEVEL SWIMMING LLP

NEXT LEVEL SWIMMING LLP (REGISTERED NUMBER: OC438288)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEXT LEVEL SWIMMING LLP

GENERAL INFORMATION
for the Year Ended 31 July 2024







DESIGNATED MEMBERS: Aquatics Management Ltd
Next Level Swimming Academy Ltd





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
United Kingdom
HP2 7TE





REGISTERED NUMBER: OC438288 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

NEXT LEVEL SWIMMING LLP (REGISTERED NUMBER: OC438288)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,790 1,590

CURRENT ASSETS
Debtors 5 21,160 1,900
Cash at bank 326,397 278,557
347,557 280,457
CREDITORS
Amounts falling due within one year 6 196,945 189,123
NET CURRENT ASSETS 150,612 91,334
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

152,402

92,924

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

152,402

92,924

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 152,402 92,924

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 July 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.

NEXT LEVEL SWIMMING LLP (REGISTERED NUMBER: OC438288)

BALANCE SHEET - continued
31 July 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 27 November 2024 and were signed by:




Aquatics Management Ltd - Designated member




Next Level Swimming Academy Ltd - Designated member


NEXT LEVEL SWIMMING LLP (REGISTERED NUMBER: OC438288)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Next Level Swimming LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

NEXT LEVEL SWIMMING LLP (REGISTERED NUMBER: OC438288)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

3. EMPLOYEE INFORMATION

The average number of employees during the year was 28 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 1,727
Additions 798
At 31 July 2024 2,525
DEPRECIATION
At 1 August 2023 137
Charge for year 598
At 31 July 2024 735
NET BOOK VALUE
At 31 July 2024 1,790
At 31 July 2023 1,590

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by group undertakings 18,910 -
Prepayments and accrued income 2,250 1,900
21,160 1,900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Accruals and deferred income 180,477 189,123
Accruals 16,468 -
196,945 189,123

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.