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REGISTERED NUMBER: OC417318 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

FOR

AJG MUSIC LLP

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AJG MUSIC LLP

GENERAL INFORMATION
for the year ended 31 March 2024







DESIGNATED MEMBERS: V L Taramasco
M R Evans





REGISTERED OFFICE: Open Fields
Rowney Green Lane
Rowney Green
Birmingham
Worcestershire
B48 7QS





REGISTERED NUMBER: OC417318 (England and Wales)





ACCOUNTANTS: the dt group
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,953 4,842
Tangible assets 5 13,857 18,323
16,810 23,165

CURRENT ASSETS
Stocks 150 200
Debtors 6 8,113 15,610
Cash at bank and in hand 5,143 1,293
13,406 17,103
CREDITORS
Amounts falling due within one year 7 23,137 27,147
NET CURRENT LIABILITIES (9,731 ) (10,044 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,079

13,121

CREDITORS
Amounts falling due after more than one
year

8

6,471

9,923
NET ASSETS ATTRIBUTABLE TO
MEMBERS

608

3,198

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

608

3,198

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 608 3,198
Amounts due from members 6 (4,085 ) (6,240 )
(3,477 ) (3,042 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

BALANCE SHEET - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4 July 2024 and were signed by:





V L Taramasco - Designated member

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

AJG Music LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2023 - 10 ) .

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 16,850
AMORTISATION
At 1 April 2023 12,008
Charge for year 1,889
At 31 March 2024 13,897
NET BOOK VALUE
At 31 March 2024 2,953
At 31 March 2023 4,842

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 32,955
Additions 154
At 31 March 2024 33,109
DEPRECIATION
At 1 April 2023 14,632
Charge for year 4,620
At 31 March 2024 19,252
NET BOOK VALUE
At 31 March 2024 13,857
At 31 March 2023 18,323

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 23,995
DEPRECIATION
At 1 April 2023 5,506
Charge for year 3,467
Reclassification/transfer 4,622
At 31 March 2024 13,595
NET BOOK VALUE
At 31 March 2024 10,400
At 31 March 2023 18,489

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,800 9,156
Other debtors 4,313 6,454
8,113 15,610

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 3,452 3,329
Trade creditors 893 -
Taxation and social security - 94
Other creditors 18,792 23,724
23,137 27,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 6,471 9,923

AJG MUSIC LLP (REGISTERED NUMBER: OC417318)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,452 3,329
Between one and five years 6,471 9,923
9,923 13,252

At 31st March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of nil (2023: £4,000).

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 9,923 13,252

11. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 608 3,198

Falling due within one year 608 3,198

Amounts due to members rank equally alongside the other unsecured creditors.