Tregath LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—6

Registered number: OC362175

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,394,887		2,402,493

			2,394,887		2,402,493
CURRENT ASSETS
Debtors	5	60,117		44,300
Cash at bank and in hand		9,911		3,689

		70,028		47,989
Creditors: Amounts Falling Due Within One Year	6	(354,460 )		(329,367 )

NET CURRENT ASSETS (LIABILITIES)			(284,432 )		(281,378 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,110,455		2,121,115

Creditors: Amounts Falling Due After More Than One Year	7		(817,440 )		(940,701 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			1,293,015		1,180,414

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		1,293,015		1,180,414

			1,293,015		1,180,414

			1,293,015		1,180,414

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			1,293,015		1,180,414

			1,293,015		1,180,414

Page 1

Page 2

Tregath LLP

Balance Sheet (continued)

As At 31 March 2025

For the 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (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 LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr J A Smeeth

Designated Member

25/06/2025

The notes on pages 4 to 6 form part of these financial statements.

	EQUITY			DEBT
	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors
	Members'Capital classified as Equity	Other Reserves	Total Equity	Other amounts	Total members' interest
	£	£	£	£	£
Amounts due to members	-	-	-	1,180,040	-

Balance at 1 March 2023	-	-	-	1,180,040	1,180,040
Profit/(loss) for the financial year available for discretionary division among members	-	31,199	31,199	-	31,199

Members' interests after profit/(loss) for the year	-	31,199	31,199	1,180,040	1,211,239
Other divisions of profits (losses)	-	(31,199)	(31,199)	31,199	-
Introduced by members	-	-	-	-	-
Drawings	-	-	-	(30,825)	(30,825)

Amounts due to members	-	-	-	1,180,414	-

As at 31 March 2024 and 1 April 2024	-	-	-	1,180,414	1,180,414


Profit/(loss) for the financial year available for discretionary division among members	-	139,723	139,723	-	139,723

Members' interests after profit/(loss) for the year	-	139,723	139,723	1,180,414	1,320,137
Other divisions of profits (losses)	-	(139,723)	(139,723)	139,723	-
Drawings	-	-	-	(27,122)	(27,122)

Amounts due to members	-	-	-	1,293,015	-

As at 31 March 2025	-	-	-	1,293,015	1,293,015

Page 3

Page 4

Tregath LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

1. General Information

Tregath LLP is a limited liability partnership, incorporated in England & Wales, registered number OC362175 . The Registered Office is Tregath Business Park, Camelford Station, Camelford, Devon, PL32 9TX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	not depreciated
Leasehold	not depreciated
Plant & Machinery	10% on cost
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	10% on cost
Computer Equipment	20% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

Page 4

Page 5

Tregath LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 April 2024	2,230,169	378,078	5,240	19,029
Additions	-	4,000	300	6,851

As at 31 March 2025	2,230,169	382,078	5,540	25,880

Depreciation
As at 1 April 2024	-	223,416	3,583	4,170
Provided during the period	-	15,347	433	2,527

As at 31 March 2025	-	238,763	4,016	6,697

Net Book Value
As at 31 March 2025	2,230,169	143,315	1,524	19,183

As at 1 April 2024	2,230,169	154,662	1,657	14,859


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 April 2024	2,251	2,634,767
Additions	-	11,151

As at 31 March 2025	2,251	2,645,918

Depreciation
As at 1 April 2024	1,105	232,274
Provided during the period	450	18,757

As at 31 March 2025	1,555	251,031

Net Book Value
As at 31 March 2025	696	2,394,887

As at 1 April 2024	1,146	2,402,493

5. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Trade debtors	60,117	44,300

Page 5

Page 6

Tregath LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	19,485	19,476
Trade creditors	21,351	21,291
Bank loans and overdrafts	112,068	120,004
VAT	6,520	2,190
Other creditors	35,486	3,028
Loan- J Metters	10,000	10,000
Accruals and deferred income	149,550	153,378

	354,460	329,367

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 March 2024
	£	£
Net obligations under finance lease and hire purchase contracts	51,959	71,453
Bank loans	765,481	869,248

	817,440	940,701

8. Obligations Under Finance Leases and Hire Purchase

	31 March 2025	31 March 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	19,485	19,476
Later than one year and not later than five years	51,959	71,453

	71,444	90,929

	71,444	90,929

Page 6