Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3No description of principal activitytrue3falsefalse OC437929 2023-01-01 2023-12-31 OC437929 2022-01-01 2022-12-31 OC437929 2023-12-31 OC437929 2022-12-31 OC437929 c:CurrentFinancialInstruments 2023-12-31 OC437929 c:CurrentFinancialInstruments 2022-12-31 OC437929 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC437929 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC437929 d:FRS102 2023-01-01 2023-12-31 OC437929 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC437929 d:FullAccounts 2023-01-01 2023-12-31 OC437929 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC437929 2 2023-01-01 2023-12-31 OC437929 d:PartnerLLP1 2023-01-01 2023-12-31 OC437929 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC437929 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC437929 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: OC437929









10 MAGNOLIA TOURING LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
10 MAGNOLIA TOURING LLP
REGISTERED NUMBER: OC437929

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2,915
19,794

Cash at bank and in hand
 5 
35,844
54,956

  
38,759
74,750

Creditors: Amounts Falling Due Within One Year
 6 
(7,111)
(57,336)

Net current assets
  
 
 
31,648
 
 
17,414

Total assets less current liabilities
  
31,648
17,414

  

Net assets
  
31,648
17,414


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
31,648
17,414

  
31,648
17,414

  

  
31,648
17,414


Total members' interests
  

Loans and other debts due to members
 7 
31,648
17,414

  
31,648
17,414


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 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 statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
Page 1

 
10 MAGNOLIA TOURING LLP
REGISTERED NUMBER: OC437929
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
N Lambert
Designated member

Date: 27 August 2024

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

10 Magnolia Touring 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

 
10 MAGNOLIA TOURING LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 DECEMBER 2023




DEBT
Loans and other debts due to members less any amounts due from members in debtors
Other amounts
Total

£
£

Members' interests after profit for the period
(7,240)
(7,240)

Other division of profits
22,923
22,923

Amounts introduced by members
1,730
1,730

Amounts due to members
17,414
17,414

Balance at 31 December 2022
17,414
17,414

Members' interests after profit for the period
17,414
17,414

Other division of profits
16,669
16,669

Amounts introduced by members
(2,434)
(2,434)

Amounts due to members
31,648
31,648

Balance at 31 December 2023 
31,648
31,648

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

 
10 MAGNOLIA TOURING LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

10 Magnolia Touring LLP is a Limited Liability Partnership incorporated in England and Wales (registered number: OC437929). The registered Office address of the LLP is 101 New Cavendish Street, London, W1W 6XH. 
The principal activity of the LLP for the period was Band Touring.
The financial statements are presented in Sterling, which is the functional currency of the LLP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
10 MAGNOLIA TOURING LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

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 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.

 
2.4

Interest income

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

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.6

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.

 
2.7

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.

Page 5

 
10 MAGNOLIA TOURING LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 3).


4.


Debtors

2023
2022
£
£


Trade debtors
2,915
14,216

Other debtors
-
600

Prepayments and accrued income
-
4,978

2,915
19,794



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,844
54,956

35,844
54,956



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,660
45,412

Other taxation and social security
701
213

Other creditors
2,250
2,250

Accruals and deferred income
2,500
9,461

7,111
57,336


Page 6

 
10 MAGNOLIA TOURING LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
31,648
17,414

31,648
17,414

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

2023
2022
£
£



Falling due within one year
31,648
17,414

31,648
17,414

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

 
Page 7