Limited Liability Partnership Registration No. OC417849 (England and Wales)
COACHING FOR ALL TENNIS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
PAGES FOR FILING WITH REGISTRAR
COACHING FOR ALL TENNIS LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
COACHING FOR ALL TENNIS LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COACHING FOR ALL TENNIS LLP FOR THE YEAR ENDED 5 APRIL 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coaching For All Tennis LLP for the year ended 5 April 2022 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.
This report is made solely to the limited liability partnership's members
of Coaching For All Tennis LLP, as a body
.
Our work has been undertaken solely to prepare for your approval the financial statements of Coaching For All Tennis LLP and state those matters that we have agreed to state to the limited liability partnership's members
of Coaching For All Tennis LLP, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coaching For All Tennis LLP and its members
as a body, for our work or for this report.
It is your duty to ensure that Coaching For All Tennis LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Coaching For All Tennis LLP. You consider that Coaching For All Tennis LLP is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Coaching For All Tennis LLP. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
9 November 2022
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
COACHING FOR ALL TENNIS LLP
BALANCE SHEET
AS AT
5 APRIL 2022
05 April 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,994
21,434
Current assets
Cash at bank and in hand
3,516
3,451
Creditors: amounts falling due within one year
5
(2,982)
(3,438)
Net current assets
534
13
Total assets less current liabilities and net assets attributable to members
17,528
21,447
Represented by:
Loans and other debts due to members within one year
6
Amounts due in respect of profits
17,528
21,447
T
he members of the
limited liability partnership
have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 5 April 2022 the
limited liability partnership
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)
relating to small limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 7 November 2022 and are signed on their behalf by:
07 November 2022
Mr W Pistorius
Mrs K Pistorius
Designated member
Designated Member
Limited Liability Partnership Registration No. OC417849
COACHING FOR ALL TENNIS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
- 3 -
1
Accounting policies
Limited liability partnership information
Coaching For All Tennis LLP is a limited liability partnership incorporated in England and Wales. The registered office is 35 Elm Road, Cranleigh, Surrey, GU6 8UG.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the limited liability partnership.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
represents the amounts recoverable for the tennis coaching services provided to clients, excluding value added tax, and is recognised in line with the provision of these services.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Computers
33.33% on cost
Motor vehicles
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the
profit and loss account
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
limited liability partnership
reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
limited liability partnership
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
COACHING FOR ALL TENNIS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2022
2021
Number
Number
Total
3
Members' remuneration
2022
2021
Members' remuneration comprises:
£
£
Remuneration under participation rights
47,250
20,395
COACHING FOR ALL TENNIS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2022
- 5 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 6 April 2021
5,953
4,044
20,700
30,697
Additions
1,138
725
-
1,863
At 5 April 2022
7,091
4,769
20,700
32,560
Depreciation and impairment
At 6 April 2021
1,878
3,005
4,380
9,263
Depreciation charged in the year
1,368
795
4,140
6,303
At 5 April 2022
3,246
3,800
8,520
15,566
Carrying amount
At 5 April 2022
3,845
969
12,180
16,994
At 5 April 2021
4,075
1,039
16,320
21,434
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,182
1,318
Other creditors
1,800
2,120
2,982
3,438
COACHING FOR ALL TENNIS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2022
- 6 -
6
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Other amounts
Total
Total
2022
£
£
£
£
Members' interests at 6 April 2021
-
21,447
21,447
21,447
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
47,250
47,250
47,250
Loss for the financial year available for discretionary division among members
(4,231)
-
-
(4,231)
Members' interests after loss and remuneration for the year
(4,231)
68,697
68,697
64,466
Allocation of loss for the financial year
4,231
(4,231)
(4,231)
-
Introduced by members
-
312
312
312
Drawings
-
(47,250)
(47,250)
(47,250)
Members' interests at 5 April 2022
-
17,528
17,528
17,528
7
Loans and other debts due to members
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.