Registered number
OC346852
Tranquillity Ventures LLP
Filleted Accounts for the year ended
5 April 2025
Tranquillity Ventures LLP
Registered number: OC346852
Balance Sheet
as at 5 April 2025
Notes 2025 2024
£ £
Fixed assets
Investments 3 200,000 200,000
Current assets
Cash at bank and in hand 3,322 743
Creditors: amounts falling due within one year 4 (360) (360)
Net current assets 2,962 383
Total assets less current liabilities 202,962 200,383
Net assets attributable to members 202,962 200,383
Represented by:
Members' other interests
Other reserves 202,962 200,383
202,962 200,383
Total members' interests
Members' other interests 202,962 200,383
202,962 200,383
For the year ended 5 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 18 June 2025 and signed on their behalf by:
S A Clapp
Designated member
Tranquillity Ventures LLP
Notes to the Accounts
for the year ended 5 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Statement of Recommended Practice (SORP), "Accounting by Limited Liability Partnerships".
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2025 2024
Number Number
Average number of persons employed by the LLP 1 1
3 Fixed asset investments
Other
investments
£
Cost
At 6 April 2024 200,000
At 5 April 2025 200,000
4 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 360 360
5 Other information
Tranquillity Ventures LLP is a limited liability partnership incorporated in England. Its registered office is:
1 Belle Vue Road
Bournemouth
BH6 3DA
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