Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312true2023-04-01falseThe principal activity of the LLP continued to be that of touring perfomance.2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC407584 2023-04-01 2024-03-31 OC407584 2022-04-01 2023-03-31 OC407584 2024-03-31 OC407584 2023-03-31 OC407584 c:FurnitureFittings 2023-04-01 2024-03-31 OC407584 c:FurnitureFittings 2024-03-31 OC407584 c:FurnitureFittings 2023-03-31 OC407584 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC407584 c:OfficeEquipment 2023-04-01 2024-03-31 OC407584 c:OfficeEquipment 2024-03-31 OC407584 c:OfficeEquipment 2023-03-31 OC407584 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC407584 c:ComputerEquipment 2023-04-01 2024-03-31 OC407584 c:ComputerEquipment 2024-03-31 OC407584 c:ComputerEquipment 2023-03-31 OC407584 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC407584 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC407584 c:OtherPropertyPlantEquipment 2024-03-31 OC407584 c:OtherPropertyPlantEquipment 2023-03-31 OC407584 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC407584 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC407584 c:CurrentFinancialInstruments 2024-03-31 OC407584 c:CurrentFinancialInstruments 2023-03-31 OC407584 c:CurrentFinancialInstruments 2 2024-03-31 OC407584 c:CurrentFinancialInstruments 2 2023-03-31 OC407584 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC407584 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC407584 e:FRS102 2023-04-01 2024-03-31 OC407584 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC407584 e:FullAccounts 2023-04-01 2024-03-31 OC407584 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC407584 2 2023-04-01 2024-03-31 OC407584 e:PartnerLLP1 2023-04-01 2024-03-31 OC407584 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC407584 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC407584 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC407584














MOONSTONE MUSIC LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MOONSTONE MUSIC LLP
REGISTERED NUMBER:OC407584

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,707
4,970

  
4,707
4,970

Current assets
  

Debtors: amounts falling due within one year
 5 
417,160
321,864

Cash at bank
 6 
188,248
212,384

  
605,408
534,248

Creditors: amounts falling due within one year
 7 
(197,996)
(159,050)

Net current assets
  
 
 
407,412
 
 
375,198

Total assets less current liabilities
  
412,119
380,168

  

Net assets
  
412,119
380,168


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
412,119
380,168

  
412,119
380,168

  

  
412,119
380,168


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(234,795)
(186,159)

Loans and other debts due to members
 8 
412,119
380,168

  
177,324
194,009

Page 1

 
MOONSTONE MUSIC LLP
REGISTERED NUMBER:OC407584
    
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 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 by: 




A P Hadley
Designated member

Date: 15 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Moonstone Music LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 
MOONSTONE MUSIC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Moonstone Music LLP is a limited liability partnership, registered in England and Wales, registration number OC407584. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
 
The principal activity of the LLP continued to be that of touring perfomance.

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 Section 1A of the 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".

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is pound sterling.

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 year 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 that relate to borrowings and cash are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit or loss statement.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from touring performance is recognised when it is probable the LLP will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the LLP.
Merchandise income is recognised when the significant risks and rewards of ownership have been transferred to the buyer.
Recharged income is recognised when expenses have been incurred on behalf of another party to an extent that it is probable that the LLP will recover the expenses from the other party.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MOONSTONE MUSIC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 the profit and loss account.

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight-line
Office equipment
-
25%
straight-line
Computer equipment
-
25%
straight-line
Music equipment
-
25%
straight-line

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

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4

 
MOONSTONE MUSIC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

 Financial instruments

The LLP enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors and loans with related parties. 


3.


Employees

The average monthly number of employees, including members, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost 


At 1 April 2023
2,083
1,472
7,190
9,815
20,560


Additions
317
489
2,185
-
2,991



At 31 March 2024

2,400
1,961
9,375
9,815
23,551



Depreciation


At 1 April 2023
2,083
1,193
6,846
5,468
15,590


Charge for the year
79
215
787
2,173
3,254



At 31 March 2024

2,162
1,408
7,633
7,641
18,844



Net book value



At 31 March 2024
238
553
1,742
2,174
4,707



At 31 March 2023
-
279
344
4,347
4,970

Page 5

 
MOONSTONE MUSIC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
902
61,258

Other debtors
72,022
71,607

Prepayments and accrued income
109,441
2,840

Amounts due from members
234,795
186,159

417,160
321,864



6.


Cash

2024
2023
£
£

Cash at bank
188,248
212,384



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
51,503
989

Other taxation and social security
14,577
12,233

Other creditors
22,007
42,845

Accruals and deferred income
109,909
102,983

197,996
159,050



Page 6

 
MOONSTONE MUSIC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
412,119
380,168

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
412,119
380,168

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 7