Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2No description of principal activity2023-02-012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC430311 2023-02-01 2024-03-31 OC430311 2022-02-01 2023-01-31 OC430311 2024-03-31 OC430311 2023-01-31 OC430311 c:OfficeEquipment 2023-02-01 2024-03-31 OC430311 c:OfficeEquipment 2024-03-31 OC430311 c:OfficeEquipment 2023-01-31 OC430311 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-02-01 2024-03-31 OC430311 c:CurrentFinancialInstruments 2024-03-31 OC430311 c:CurrentFinancialInstruments 2023-01-31 OC430311 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC430311 c:CurrentFinancialInstruments c:WithinOneYear 2023-01-31 OC430311 d:FRS102 2023-02-01 2024-03-31 OC430311 d:AuditExempt-NoAccountantsReport 2023-02-01 2024-03-31 OC430311 d:FullAccounts 2023-02-01 2024-03-31 OC430311 d:LimitedLiabilityPartnershipLLP 2023-02-01 2024-03-31 OC430311 d:PartnerLLP1 2023-02-01 2024-03-31 OC430311 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC430311 c:FurtherSpecificReserve3ComponentTotalEquity 2023-01-31 OC430311 e:PoundSterling 2023-02-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC430311









MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
REGISTERED NUMBER: OC430311

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
31 January
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,699
9,372

  
6,699
9,372

Current assets
  

Debtors: amounts falling due within one year
 5 
35,699
1,416

Cash at bank and in hand
 6 
17,076
16,534

  
52,775
17,950

Creditors: Amounts Falling Due Within One Year
 7 
(33,433)
(2,000)

Net current assets
  
 
 
19,342
 
 
15,950

Total assets less current liabilities
  
26,041
25,322

  

Net assets
  
26,041
25,322


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
26,041
25,322

  
26,041
25,322

  

  
26,041
25,322


Total members' interests
  

Loans and other debts due to members
  
26,041
25,322

  
26,041
25,322


Page 1

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
REGISTERED NUMBER: OC430311
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 15 November 2024.




M D'anglejan-Chatillon
Designated member

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

MDAC Artist Management LLP (formerly MDAC Productions LLP) is a limited liability partnership firm incorporated in England & Wales (registered no: OC430311). Its registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH 
The financial statements are presented in Sterling, which is the functional currency of the company.
During the year the partnership changed its name from MDAC Productions LLP to MDAC Artist Management 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

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.

Page 3

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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 .

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Reducing balance method.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

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.

 
2.6

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 4

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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 persons (including members with contracts of employment) employed during the year was as follows:


        2024
        2023
            No.
            No.







Members
2
2


4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 February 2023
19,309



At 31 March 2024

19,309



Depreciation


At 1 February 2023
9,937


Charge for the year on owned assets
2,673



At 31 March 2024

12,610



Net book value



At 31 March 2024
6,699

Page 5

 
MDAC ARTIST MANAGEMENT LLP (FORMERLY MDAC PRODUCTIONS LLP)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

31 March
31 January
2024
2023
£
£


Trade debtors
35,700
1,416

35,700
1,416



6.


Cash and cash equivalents

31 March
31 January
2024
2023
£
£

Cash at bank and in hand
17,076
16,534

17,076
16,534



7.


Creditors: Amounts falling due within one year

31 March
31 January
2024
2023
£
£

Trade creditors
161
-

Other taxation and social security
380
-

Accruals and deferred income
32,892
2,000

33,433
2,000


 
Page 6