Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC383081 2023-04-01 2024-03-31 OC383081 2022-04-01 2023-03-31 OC383081 2024-03-31 OC383081 2023-03-31 OC383081 c:MotorVehicles 2023-04-01 2024-03-31 OC383081 c:MotorVehicles 2024-03-31 OC383081 c:MotorVehicles 2023-03-31 OC383081 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC383081 c:CurrentFinancialInstruments 2024-03-31 OC383081 c:CurrentFinancialInstruments 2023-03-31 OC383081 c:CurrentFinancialInstruments 2 2024-03-31 OC383081 c:CurrentFinancialInstruments 2 2023-03-31 OC383081 c:Non-currentFinancialInstruments 2024-03-31 OC383081 c:Non-currentFinancialInstruments 2023-03-31 OC383081 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC383081 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC383081 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC383081 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC383081 e:FRS102 2023-04-01 2024-03-31 OC383081 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC383081 e:FullAccounts 2023-04-01 2024-03-31 OC383081 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC383081 c:HirePurchaseContracts c:WithinOneYear 2024-03-31 OC383081 c:HirePurchaseContracts c:WithinOneYear 2023-03-31 OC383081 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-03-31 OC383081 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-03-31 OC383081 e:PartnerLLP1 2023-04-01 2024-03-31 OC383081 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC383081 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC383081 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC383081









BC LIVE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BC LIVE LLP
REGISTERED NUMBER: OC383081

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
48,715
64,953

  
48,715
64,953

Current assets
  

Debtors
 5 
285,272
701,290

Cash at bank and in hand
 6 
-
487

  
285,272
701,777

Creditors: Amounts Falling Due Within One Year
 7 
(38,300)
(458,465)

Net current assets
  
 
 
246,972
 
 
243,312

Total assets less current liabilities
  
295,687
308,265

Creditors: amounts falling due after more than one year
 8 
(45,687)
(58,265)

  
250,000
250,000

  

Net assets
  
250,000
250,000


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
250,000
250,000

  
 
250,000
 
250,000

  
250,000
250,000


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(133,416)
(497,962)

Members' other interests
  
250,000
250,000

  
116,584
(247,962)


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.
Page 1

 
BC LIVE LLP
REGISTERED NUMBER: OC383081
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


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 profit and loss account 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 30 October 2024.




Mr B Cox
Designated member

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
BC LIVE LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Total
Other amounts
Total
Total

£
£
£
£
£

Members' remuneration charged as an expense
-
-
738,730
738,730
738,730

Members' interests after profit for the year
250,000
250,000
503,161
503,161
753,161

Drawings on account and distribution of profit
-
-
(1,001,123)
(1,001,123)
(1,001,123)

Amounts due from members
 


(497,962)
(497,962)


Balance at 31 March 2023
250,000
250,000
(497,962)
(497,962)
(247,962)

Members' remuneration charged as an expense
-
-
81,277
81,277
81,277

Members' interests after profit for the year
250,000
250,000
(416,685)
(416,685)
(166,685)

Drawings on account and distribution of profit
-
-
283,269
283,269
283,269

Amounts due from members
 


(133,416)
(133,416)


Balance at 31 March 2024 
250,000
250,000
(133,416)
(133,416)
116,584

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

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

BC Live LLP is a limited liability partnership incorporated in England and Wales. The address of the
entity's registered office is 50 Liverpool Street, London, EC2M 7PY.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

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.

Page 4

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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

Leased assets: the LLP as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.

Page 5

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Motor vehicles
-
25%
Reducing Balance

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


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.







Average number of employees
1
1

Page 6

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2023
98,976



At 31 March 2024

98,976



Depreciation


At 1 April 2023
34,023


Charge for the year on financed assets
16,238



At 31 March 2024

50,261



Net book value



At 31 March 2024
48,715



At 31 March 2023
64,953


5.


Debtors

2024
2023
£
£



Trade debtors
12,000
169,064

Other debtors
49,672
5,907

Prepayments and accrued income
90,184
28,357

Amounts due from members
133,416
497,962

285,272
701,290


Page 7

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
487

-
487



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,882
1,482

Other taxation and social security
-
15,038

Obligations under finance lease and hire purchase contracts
17,891
17,891

Accruals and deferred income
18,527
424,054

38,300
458,465



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
45,687
58,265

45,687
58,265



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
17,891
17,891

Between 1-5 years
45,687
58,269

63,578
76,160

Page 8

 
BC LIVE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

Included in other debtors at the balance sheet date is an amount of £3,178 (2023: £5,907) due to a
limited company of which a member is the director. The amount is in respect of advances net of
expenses borne on behalf of the LLP. This amount is unsecured, interest free and repayable on demand.

 
Page 9