NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Cookie Jar Music LLP is a limited liability partnership, registered in England and Wales, registration number OC396173. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the LLP continued to be that of music publishing.
2.Accounting policies
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Basis of preparation of financial statements
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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 the 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".
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Foreign currency translation
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The LLP's functional and presentational currency is pound sterling.
Turnover from music publishing is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.
Royalties receivable are recognised at the year end date by the LLP.
Advances received from licences are carried forward as deferred income until the earlier of recoupment against contractual royalties due, agreement expiry or recognition that recoupment is unlikely to take place.
Short term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
The LLP enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors, and loans with related parties.
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