1 April 2024 false No description of principal activity Taxfiler 2024.6 OC432480 business:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC432480 2024-03-31 OC432480 2024-04-01 2025-03-31 OC432480 business:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC432480 business:FilletedAccounts 2024-04-01 2025-03-31 OC432480 2025-03-31 OC432480 business:PartnerLLP1 2024-04-01 2025-03-31 OC432480 business:PartnerLLP2 2024-04-01 2025-03-31 OC432480 business:RegisteredOffice 2024-04-01 2025-03-31 OC432480 2024-03-31 OC432480 core:WithinOneYear 2025-03-31 OC432480 core:WithinOneYear 2024-03-31 OC432480 business:SmallEntities 2024-04-01 2025-03-31 OC432480 core:FurnitureFittings 2024-04-01 2025-03-31 OC432480 core:ComputerEquipment 2024-04-01 2025-03-31 OC432480 countries:EnglandWales 2024-04-01 2025-03-31 OC432480 core:FurnitureFittings 2024-03-31 OC432480 core:ComputerEquipment 2024-03-31 OC432480 core:FurnitureFittings 2025-03-31 OC432480 core:ComputerEquipment 2025-03-31 OC432480 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered No. OC432480 (England and Wales)
Learning Potential Tuition LLP Unaudited accounts for the year ended 31 March 2025
Learning Potential Tuition LLP LLP Information for the year ended 31 March 2025
Designated members
Mrs Amy Kate Gallagher
Mr Craig Gallagher
Registered Number
OC432480 (England and Wales)
Registered Office
42 London Road Horsham West Sussex RH12 1AY
Accountants
M&T Accounting Limited 24 Great Lime Kilns Southwater Horsham West Sussex RH13 9JL
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Learning Potential Tuition LLP Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
3
3,616
4,821
Current assets
Debtors
2,402
1,558
Cash at bank and in hand
27,336
13,867
29,738
15,425
Creditors: amounts falling due within one year
4
(13,203)
(17,800)
Net current assets/(liabilities)
16,535
(2,375)
Net assets attributable to members
20,151
2,446
Represented by:
Loans and other debts due to members
5
20,151
2,446
20,151
2,446
Total members' interests
Loans and other debts due to members
20,151
2,446
20,151
2,446
For the year ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 26 August 2025.
Mrs Amy Kate Gallagher Designated member Limited Liability Partnership Registration No. OC432480
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Learning Potential Tuition LLP Notes to the Accounts for the year ended 31 March 2025
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents amounts receivable for teaching services net of discounts given.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Members' remuneration
Profits are allocated to members in agreed profit sharing ratios.
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.
2
Statutory information
Learning Potential Tuition LLP is a limited liability partnership, incorporated in England and Wales, registration number OC432480. Its registered office is 42 London Road, Horsham, West Sussex, RH12 1AY.
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
2,422
3,864
6,286
At 31 March 2025
2,422
3,864
6,286
Depreciation
At 1 April 2024
366
1,099
1,465
Charge for the year
514
691
1,205
At 31 March 2025
880
1,790
2,670
Net book value
At 31 March 2025
1,542
2,074
3,616
At 31 March 2024
2,056
2,765
4,821
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Learning Potential Tuition LLP Notes to the Accounts for the year ended 31 March 2025
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
61
58
Taxes and social security costs
759
521
Other creditors
2,393
11,909
Accruals
4,331
3,313
Deferred income
5,659
1,999
13,203
17,800
5
Loans and other debts due to members
2025
2024
£
£
Members' capital classified as a liability
100
100
Amounts due to members in respect of profits
20,051
2,346
20,151
2,446
Amounts falling due within one year
20,151
2,446
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 8 (2024: 8).
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