Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true22023-04-01falseThe principal activity of the LLP continued to be that of music touring.2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC388064 2023-04-01 2024-03-31 OC388064 2022-04-01 2023-03-31 OC388064 2024-03-31 OC388064 2023-03-31 OC388064 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC388064 c:OtherPropertyPlantEquipment 2024-03-31 OC388064 c:OtherPropertyPlantEquipment 2023-03-31 OC388064 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC388064 c:CurrentFinancialInstruments 2024-03-31 OC388064 c:CurrentFinancialInstruments 2023-03-31 OC388064 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC388064 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC388064 d:FRS102 2023-04-01 2024-03-31 OC388064 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC388064 d:FullAccounts 2023-04-01 2024-03-31 OC388064 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC388064 d:PartnerLLP1 2023-04-01 2024-03-31 OC388064 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC388064 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC388064 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC388064 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC388064 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC388064














TOURIST MUSIC LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
TOURIST MUSIC LLP
REGISTERED NUMBER:OC388064

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,366
1,940

  
1,366
1,940

Current assets
  

Debtors: amounts falling due within one year
 5 
58,835
55,267

Cash at bank
 6 
42,842
48,598

  
101,677
103,865

Creditors: amounts falling due within one year
 7 
(66,971)
(112,999)

Net current assets/(liabilities)
  
 
 
34,706
 
 
(9,134)

Total assets less current liabilities
  
36,072
(7,194)

  

Net assets/(liabilities) attributable to members
  
36,072
(7,194)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
180,893
111,990

  
180,893
111,990

Members' other interests
  

Other reserves classified as equity

  

(144,821)
(119,184)

  
 
(144,821)
 
(119,184)

  
36,072
(7,194)


Total members' interests
  

Loans and other debts due to members
 8 
180,893
111,990

Members' other interests
  
(144,821)
(119,184)

  
36,072
(7,194)


Page 1

 
TOURIST MUSIC LLP
REGISTERED NUMBER:OC388064
    
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: 




W E Phillips
Designated member

Date: 20 January 2025

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

Page 2

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

1.


General information

Tourist Music LLP is a limited liability partnership, registered in England and Wales, registration number OC388064. The registered office is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the LLP continued to be that of music touring.

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 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

Going concern

The financial statements have been prepared on the going concern basis as the members have confirmed they will continue to provide necessary funding in order for the LLP to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the members are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

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.

 
2.4

Turnover

Turnover 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. 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 music touring activities is recognised when it is probable the LLP will receive the rights to the consideration due under the contract.
 

Page 3

 
TOURIST 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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members.

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Other fixed assets
-
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.

 
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

 
TOURIST 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





Other fixed assets

£



Cost


At 1 April 2023
7,333



At 31 March 2024

7,333



Depreciation


At 1 April 2023
5,393


Charge for the year
574



At 31 March 2024

5,967



Net book value



At 31 March 2024
1,366



At 31 March 2023
1,940


5.


Debtors

2024
2023
£
£


Trade debtors
37,318
-

Other debtors
15,858
49,303

Prepayments
5,659
5,964

58,835
55,267


Page 5

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

6.


Cash

2024
2023
£
£

Cash at bank
42,842
48,598



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
535
61

Other taxation and social security
1,920
-

Other creditors
-
80,170

Accruals and deferred income
64,516
32,768

66,971
112,999



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
180,893
111,990

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

2024
2023
£
£



Falling due within one year
180,893
111,990

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

Page 6