Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31No description of principal activity2022-09-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC377564 2022-09-01 2023-08-31 OC377564 2021-09-01 2022-08-31 OC377564 2023-08-31 OC377564 2022-08-31 OC377564 c:OfficeEquipment 2022-09-01 2023-08-31 OC377564 c:OfficeEquipment 2023-08-31 OC377564 c:OfficeEquipment 2022-08-31 OC377564 c:CurrentFinancialInstruments 2023-08-31 OC377564 c:CurrentFinancialInstruments 2022-08-31 OC377564 c:CurrentFinancialInstruments 2 2023-08-31 OC377564 c:CurrentFinancialInstruments 2 2022-08-31 OC377564 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC377564 c:CurrentFinancialInstruments c:WithinOneYear 2022-08-31 OC377564 e:FRS102 2022-09-01 2023-08-31 OC377564 e:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 OC377564 e:FullAccounts 2022-09-01 2023-08-31 OC377564 e:LimitedLiabilityPartnershipLLP 2022-09-01 2023-08-31 OC377564 e:PartnerLLP1 2022-09-01 2023-08-31 OC377564 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-08-31 OC377564 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-08-31 OC377564 c:FurtherSpecificReserve2ComponentTotalEquity 2023-08-31 OC377564 c:FurtherSpecificReserve2ComponentTotalEquity 2022-08-31 OC377564 c:FurtherSpecificReserve3ComponentTotalEquity 2023-08-31 OC377564 c:FurtherSpecificReserve3ComponentTotalEquity 2022-08-31 OC377564 f:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: OC377564









WHITE ROPE MUSIC LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
WHITE ROPE MUSIC LLP
REGISTERED NUMBER: OC377564

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors
 5 
365,407
104,967

Cash at bank and in hand
 6 
23,675
176,669

  
389,082
281,636

Creditors: Amounts Falling Due Within One Year
 7 
(51,056)
(9,350)

Net current assets
  
 
 
338,026
 
 
272,286

Total assets less current liabilities
  
338,026
272,286

  

Net assets
  
338,026
272,286


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
158,026
91,736

  
158,026
91,736

Members' other interests
  

Members' capital classified as equity
  
180,000
180,000

Other reserves classified as equity
  
-
550

  
 
180,000
 
180,550

  
338,026
272,286


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(269,367)
(55,041)

Loans and other debts due to members
  
158,026
91,736

Members' other interests
  
180,000
180,550

  
68,659
217,245


The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 
Page 1

 
WHITE ROPE MUSIC LLP
REGISTERED NUMBER: OC377564
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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.

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 19 August 2024.




Mr A Skarbek
Designated member

The notes on pages 4 to 7 form part of these financial statements.

White Rope Music LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
Page 2

 
WHITE ROPE MUSIC LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 AUGUST 2023







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
85,947
85,947
-
-
85,947

Members' interests after profit for the year
180,000
85,947
265,947
(37,365)
(37,365)
228,582

Other division of profits
-
(85,397)
(85,397)
85,397
85,397
-

Drawings on account and distribution of profit
-
-
-
(11,336)
(11,336)
(11,336)

Amounts due to members
91,736
91,736

Amounts due from members
 



(55,041)
(55,041)


Balance at 31 August 2022
180,000
550
180,550
36,695
36,695
217,245

Profit for the year available for discretionary division among members
 
-
65,740
65,740
-
-
65,740

Members' interests after profit for the year
180,000
66,290
246,290
36,695
36,695
282,985

Other division of profits
-
(66,290)
(66,290)
66,290
66,290
-

Drawings on account and distribution of profit
-
-
-
(214,326)
(214,326)
(214,326)

Amounts due to members
158,026
158,026

Amounts due from members
 



(269,367)
(269,367)


Balance at 31 August 2023 
180,000
-
180,000
(111,341)
(111,341)
68,659

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
WHITE ROPE MUSIC LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

White Rope Music LLP is a limited liability partnership incorporated in England and Wales. The address of the entity's registered office is 50 Liverpool Street, London, EC2M 7PY. 

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP 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 LLP 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.

Page 4

 
WHITE ROPE MUSIC LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
WHITE ROPE MUSIC LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 September 2022
1,791



At 31 August 2023

1,791



Depreciation


At 1 September 2022
1,791



At 31 August 2023

1,791



Net book value



At 31 August 2023
-



At 31 August 2022
-


5.


Debtors

2023
2022
£
£



Trade debtors
-
27,677

Other debtors
5,540
371

Prepayments and accrued income
90,500
21,878

Amounts due from members
269,367
55,041

365,407
104,967



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,675
176,669

23,675
176,669


Page 6

 
WHITE ROPE MUSIC LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
30,132
5,400

Accruals and deferred income
20,924
3,950

51,056
9,350



8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
158,026
91,736

158,026
91,736

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
158,026
91,736

158,026
91,736

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 7