Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31truetrue3true2022-01-01falseNo description of principal activity2falsetrue 08041484 2022-01-01 2022-12-31 08041484 2021-01-01 2021-12-31 08041484 2022-12-31 08041484 2021-12-31 08041484 c:Director3 2022-01-01 2022-12-31 08041484 d:CurrentFinancialInstruments 2022-12-31 08041484 d:CurrentFinancialInstruments 2021-12-31 08041484 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08041484 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08041484 d:ShareCapital 2022-12-31 08041484 d:ShareCapital 2021-12-31 08041484 d:RetainedEarningsAccumulatedLosses 2022-12-31 08041484 d:RetainedEarningsAccumulatedLosses 2021-12-31 08041484 c:FRS102 2022-01-01 2022-12-31 08041484 c:Audited 2022-01-01 2022-12-31 08041484 c:FullAccounts 2022-01-01 2022-12-31 08041484 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08041484 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08041484 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 08041484









PARALLEL LINES PROMOTIONS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
PARALLEL LINES PROMOTIONS LIMITED
REGISTERED NUMBER: 08041484

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
107,067
83,092

Cash at bank and in hand
 5 
207,726
255,153

  
314,793
338,245

Creditors: amounts falling due within one year
 6 
(169,874)
(123,950)

Net current assets
  
 
 
144,919
 
 
214,295

Total assets less current liabilities
  
144,919
214,295

  

Net assets
  
144,919
214,295


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
144,819
214,195

  
144,919
214,295


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 November 2023.




L Lavelle
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
PARALLEL LINES PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Parallel Lines Promotions Limited is a private company, limited by shares, domiciled in England and Wales, registration number 08041484.  The registered office is 30 St. John Street, London, England, EC1M 4AY. The principal activity of the company continued to be that of promoting events for music artists.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of  Live Nation Entertainment Inc. as at 31 December 2022 and these financial statements may be obtained from 9348 Civic Centre Drive, Beverly Hills, 90210, California, United States of America.

Page 2

 
PARALLEL LINES PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PARALLEL LINES PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 2).

Page 4

 
PARALLEL LINES PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Debtors

2022
2021
£
£


Trade debtors
11,946
2,561

Amounts owed by group undertakings
19,558
3,562

Other debtors
14,560
44,045

Prepayments and accrued income
61,003
32,924

107,067
83,092



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
207,726
255,153

207,726
255,153



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
7,019
28,166

Amounts owed to group undertakings
28,219
-

Corporation tax
-
43,049

Other taxation and social security
-
9,119

Accruals and deferred income
134,636
43,616

169,874
123,950



7.


Controlling party

The immediate parent company is Live Nation (Music) UK Limited, a company incorporated in England and Wales.
The ultimate parent company is Live Nation Entertainment Inc. (USA), a company incorporated in the United States of America.

Page 5

 
PARALLEL LINES PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 3 November 2023 by Charalambos Patsalides (Senior Statutory Auditor) on behalf of Haslers.

 
Page 6