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REGISTERED NUMBER: OC415003 (England and Wales)










Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Ady Jones Tae Kwon Do Academy (Wrexham)
LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: A Jones
Mrs S Jones





REGISTERED OFFICE: Unit 4a
Abbey Road North
Wrexham Industrial Estate
Wrexham
Flintshire
LL13 9RX





REGISTERED NUMBER: OC415003 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Report of the Members
for the Year Ended 31 December 2023

The members present their report with the financial statements of the LLP for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of martial arts training services.

DESIGNATED MEMBERS
The designated members during the year under review were:

A Jones
Mrs S Jones

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £78,729 (2022 - £112,722 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

TRANSFER OF MEMBER'S INTERESTS

During the year, nothing was transferred from members' equity interests to debt due to members.

ON BEHALF OF THE MEMBERS:





A Jones - Designated member


31 January 2025

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 263,421 276,178

Cost of sales 55,172 54,580
GROSS PROFIT 208,249 221,598

Administrative expenses 126,723 105,914
OPERATING PROFIT 4 81,526 115,684


Interest payable and similar expenses 2,797 2,962
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




78,729




112,722

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 3,671 4,895
3,671 4,895

CURRENT ASSETS
Debtors 7 93,087 72,799
Cash at bank 16,395 24,199
109,482 96,998
CREDITORS
Amounts falling due within one year 8 41,920 27,593
NET CURRENT ASSETS 67,562 69,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,233

74,300

CREDITORS
Amounts falling due after more than one
year

9

71,233

74,300
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

-

-

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

TOTAL MEMBERS' INTERESTS
Amounts due from members 7 (91,087 ) (70,799 )

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 December 2023.

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.

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Balance Sheet - continued
31 December 2023


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

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2025 and were signed by:





A Jones - Designated member

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ady Jones Tae Kwon Do Academy (Wrexham) 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

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 four 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.
Plant and machinery etc - 25% on reducing balance

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Depreciation - owned assets 1,224 1,632

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 7,200
AMORTISATION
At 1 January 2023
and 31 December 2023 7,200
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 19,120
DEPRECIATION
At 1 January 2023 14,225
Charge for year 1,224
At 31 December 2023 15,449
NET BOOK VALUE
At 31 December 2023 3,671
At 31 December 2022 4,895

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 93,087 72,799

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 40,138 24,192
Trade creditors - 1,620
Other creditors 1,782 1,781
41,920 27,593

Ady Jones Tae Kwon Do Academy (Wrexham)
LLP (Registered number: OC415003)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 71,233 74,300