Limited Liability Partnership registration number OC444933 (England and Wales)
THE HIVES TOURING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023
31 December 2023
PAGES FOR FILING WITH REGISTRAR
THE HIVES TOURING LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE HIVES TOURING LLP
BALANCE SHEET
AS AT 31 DECEMBER 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
233,032
Cash at bank and in hand
437,439
670,471
Creditors: amounts falling due within one year
4
(308,866)
Net current assets and net assets attributable to members
361,605
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
361,605

The 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 period ended 31 December 2023 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 13 August 2024 and are signed on their behalf by:
Almarista AB
Midastouch AB
Designated member
Designated Member
Gta I Fagersta AB
Tallåsen Musikproduktion AB
Designated Member
Designated Member
Limited Liability Partnership Registration No. OC444933
THE HIVES TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Limited liability partnership information

The Hives Touring LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

The limited liability partnership's was incorporated 6 December 2022. These are the first financial statements since incorporation and therefore the figures are therefore presented for a period longer than 12 months.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, 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 amounts 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.

1.3
Turnover

Turnover represents the amounts recoverable for the goods and services provided to clients, excluding value added tax. Services are provided under contractual obligations which are performed gradually over time.

Revenue from contracts for the provision of live performances is recognised based on performance date.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

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.

THE HIVES TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The limited liability partnership has only has assets which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

 

Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2023
Number
Total
-
0
3
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
109,468
Other debtors
123,564
233,032
4
Creditors: amounts falling due within one year
2023
£
Trade creditors
41,851
Taxation and social security
37,939
Other creditors
229,076
308,866
THE HIVES TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
5
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.

6
Related party transactions

During the year Hives AB, a related party sharing 100% of members, incurred expenses on behalf of The Hives Touring LLP totalling £212,781 and received repayment of £126,724. At the balance sheet date The Hives Touring LLP owed the related party £86,027.

 

All loans are interest free and repayable on demand.

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