Limited Liability Partnership registration number OC445319 (England and Wales)
SUEDE TOURING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SUEDE TOURING LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SUEDE TOURING LLP
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
9,364
Current assets
Debtors
4
274,563
Cash at bank and in hand
6,154
280,717
Creditors: amounts falling due within one year
5
(83,696)
Net current assets
197,021
Total assets less current liabilities and net assets attributable to members
206,385
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
206,385

For the financial period 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 members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 2 January 2025 and are signed on their behalf by:
02 January 2025
Mr B Anderson
Designated member
Limited Liability Partnership registration number OC445319 (England and Wales)
SUEDE TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Suede Touring LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3rd Floor, Colwyn Chambers, 19 York Street, Manchester, M2 3BA.

 

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

1.1
Reporting period

These financial statements are prepared for a period longer than 12 months as it is the first period.

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 £.

1.3
Turnover

Turnover represents the amounts receivable for live performances and expenses recharged net of VAT.

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.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members.'

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments.’

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.

SUEDE TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

1.7

Deferred Income

Where invoices are in advance of live shows, this income is deferred until the period in which the show takes place. The corresponding debtor and deferred income are offset to reflect that the invoice is not due to for payment until after the year end.

1.8

Prepayments

Where invoices payable are in advance of live shows, this expense is prepaid until the period in which the show takes place. The corresponding creditor and prepayment are offset to reflect that the invoice is not due to for payment until after the year end.

2
Employees

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

2024
Number
Total
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 10 January 2023
-
Additions
12,485
At 31 March 2024
12,485
Depreciation and impairment
At 10 January 2023
-
Depreciation charged in the period
3,121
At 31 March 2024
3,121
Carrying amount
At 31 March 2024
9,364
SUEDE TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
157,651
Other debtors
116,912
274,563
5
Creditors: amounts falling due within one year
2024
£
Bank loans and overdrafts
3,672
Trade creditors
6,904
Other creditors
73,120
83,696
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