Lincolnshire Swim School LLP - Accounts to registrar (filleted) - small 17.3

Lincolnshire Swim School LLP - Accounts to registrar (filleted) - small 17.3

LINCOLNSHIRE SWIM SCHOOL LLP - Company Information

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REGISTERED NUMBER: OC382318 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

LINCOLNSHIRE SWIM SCHOOL LLP
Dennis & Turnbull
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU








LINCOLNSHIRE SWIM SCHOOL LLP (REGISTERED NUMBER: OC382318)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LINCOLNSHIRE SWIM SCHOOL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DESIGNATED MEMBERS: S M Wilson
N A Wilson





REGISTERED OFFICE: Exchange House
Moor Lane
Bingham
Nottinghamshire
NG13 8AS





REGISTERED NUMBER: OC382318 (England and Wales)





ACCOUNTANTS: Dennis & Turnbull
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU
Page 1
LINCOLNSHIRE SWIM SCHOOL LLP (REGISTERED NUMBER: OC382318)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,404 5,244
Tangible assets 5 2,646 2,131
6,050 7,375

CURRENT ASSETS
Stocks 160 218
Debtors 6 5,596 749
Cash at bank 82,497 118,659
88,253 119,626
CREDITORS
Amounts falling due within one year 7 72,018 101,201
NET CURRENT ASSETS 16,235 18,425
TOTAL ASSETS LESS CURRENT
LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
22,285
25,800

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
22,285
25,800

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 22,285 25,800

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 2017.

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 notes form part of these financial statements

Page 2 continued...
LINCOLNSHIRE SWIM SCHOOL LLP (REGISTERED NUMBER: OC382318)

BALANCE SHEET - continued
31 MARCH 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 10 August 2017 and were signed by:





N A Wilson - Designated member

The notes form part of these financial statements

Page 3
LINCOLNSHIRE SWIM SCHOOL LLP (REGISTERED NUMBER: OC382318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

1. STATUTORY INFORMATION

Lincolnshire Swim School 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% straight line basis

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

3. EMPLOYEE INFORMATION

The average number of employees during the year was 7 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 8,740
AMORTISATION
At 1 April 2016 3,496
Charge for year 1,840
At 31 March 2017 5,336
NET BOOK VALUE
At 31 March 2017 3,404
At 31 March 2016 5,244

Page 4 continued...
LINCOLNSHIRE SWIM SCHOOL LLP (REGISTERED NUMBER: OC382318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2016 4,461
Additions 1,797
At 31 March 2017 6,258
DEPRECIATION
At 1 April 2016 2,330
Charge for year 1,282
At 31 March 2017 3,612
NET BOOK VALUE
At 31 March 2017 2,646
At 31 March 2016 2,131

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 5,596 749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation and social security 92 -
Other creditors 71,926 101,201
72,018 101,201

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2017 2016
£    £   
Amounts owed to members in respect of profits 22,285 25,800

Falling due within one year 22,285 25,800

Amounts due to members rank equally alongside the other unsecured creditors.

Page 5