REGISTERED NUMBER: OC441326 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

TT Cornwall LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Miss V J Hampshire

Ms K Hampshire

REGISTERED OFFICE:

1 Lambourne Avenue

Wheal Kitty

St. Agnes

TR5 0SD

REGISTERED NUMBER:

OC441326 (England and Wales)

ACCOUNTANTS:

Briants Limited

Maritime House

Discovery Quay

Falmouth

Cornwall

TR11 3XA

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of franchised swimming lessons.

DESIGNATED MEMBERS

The designated members during the year under review were:

Miss V J Hampshire

Ms K Hampshire

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £47,161 (2024 - £44,676 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Miss V J Hampshire - Designated member

12 December 2025

TURNOVER

216,027

192,073

Cost of sales

(104,543

)

(85,829

)

GROSS PROFIT

111,484

106,244

Administrative expenses

(64,329

)

(61,566

)

OPERATING PROFIT

4

47,155

44,678

Interest receivable and similar income

6

-

47,161

44,678

Interest payable and similar expenses

-

(2

)

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

47,161

44,676

FIXED ASSETS

Intangible assets

5

9,945

14,365

Tangible assets

6

411

613

10,356

14,978

CURRENT ASSETS

Stocks

200

500

Debtors

7

674

1,502

Cash at bank

53,290

42,427

54,164

44,429

CREDITORS

Amounts falling due within one year

8

29,210

16,659

NET CURRENT ASSETS

24,954

27,770

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

35,310

42,748

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

35,310

42,748

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

35,310

42,748

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 2025.

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 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 12 December 2025 and were signed by:

Miss V J Hampshire - Designated member

Ms K Hampshire - Designated member

1.	STATUTORY INFORMATION

TT Cornwall 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, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2024 - 6 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

202

302

Patents and licences amortisation

4,420

4,420

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

22,100

AMORTISATION

At 1 April 2024

7,735

Charge for year

4,420

At 31 March 2025

12,155

NET BOOK VALUE

At 31 March 2025

9,945

At 31 March 2024

14,365

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

1,365

DEPRECIATION

At 1 April 2024

752

Charge for year

202

At 31 March 2025

954

NET BOOK VALUE

At 31 March 2025

411

At 31 March 2024

613

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

674

1,502

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

2,197

132

Other creditors

27,013

16,527

29,210

16,659

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

35,310

42,748

Falling due within one year

35,310

42,748

In the event of the cessation of an LLP, the loans due to partners are the last item to be repaid.