Company No: OC436770 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	154,698		160,852
		154,698		160,852
Current assets
Debtors	4	2,498		1,027
Cash at bank and in hand		3,440		2,467
		5,938		3,494
Creditors: amounts falling due within one year	5	( 1,150)		( 2,300)
Net current assets		4,788		1,194
Total assets less current liabilities		159,486		162,046
Net assets attributable to members		159,486		162,046
Represented by
Loans and other debts due to members within one year
Other amounts		167,647		173,998
		167,647		173,998
Members' other interests
Other reserves		(8,161)		(11,952)
		(8,161)		(11,952)
		159,486		162,046
Total members' interests
Loans and other debts due to members		167,647		173,998
Members' other interests		(8,161)		(11,952)
		159,486		162,046

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Rincewind Charters LLP (registered number: OC436770) were approved and authorised for issue by the Board of Directors on 20 December 2025. They were signed on its behalf by:

D J A Kane Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Rincewind Charters LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	Year ended 31.03.2025		Period from 01.05.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 April 2024	194,626		194,626
At 31 March 2025	194,626		194,626
Accumulated depreciation
At 01 April 2024	33,774		33,774
Charge for the financial year	6,154		6,154
At 31 March 2025	39,928		39,928
Net book value
At 31 March 2025	154,698		154,698
At 31 March 2024	160,852		160,852

4. Debtors

	31.03.2025		31.03.2024
	£		£
Other debtors	2,498		1,027

5. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	0		1,190
Other creditors	1,150		1,110
	1,150		2,300