Limited Liability Partnership registration number OC444453 (England and Wales)
DIMENSION TOURING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DIMENSION TOURING LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DIMENSION TOURING LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
90,830
-
Cash at bank and in hand
143,700
-
234,530
-
Creditors: amounts falling due within one year
4
(172,947)
-
Net current assets and net assets attributable to members
61,583
-
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
61,583
-
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 year ended 31 March 2024 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
7 August 2024
07 August 2024
and are signed on their behalf by:
Mr R Etheridge
Designated member
Limited Liability Partnership Registration No. OC444453
DIMENSION TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information
Dimension 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 LLP was incorporated 28 October 2022 and the reporting period extended to 31 March 2023 for commercial reasons. The prior year financial statements and related notes are therefore presented for a period longer than one year.
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 services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.
Live performance income is recognised based on performance date.
Revenue from contracts in respect of merchandising and marketing income are recognised on a receivable basis.
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.
DIMENSION TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
74,153
-
Other debtors
16,677
-
90,830
-
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
43
-
Trade creditors
96,771
-
Other creditors
76,133
-
172,947
-
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.