0 false false false false false false false false false false false false false false false false false No description of principal activity 2023-07-29 Sage Accounts Production Advanced 2023 - FRS102_2023 889 889 889 xbrli:pure xbrli:shares iso4217:GBP OC397290 2023-07-29 2024-07-27 OC397290 2024-07-27 OC397290 2023-07-28 OC397290 2022-07-29 2023-07-28 OC397290 2023-07-28 OC397290 2022-07-28 OC397290 bus:Director4 2023-07-29 2024-07-27 OC397290 core:WithinOneYear 2024-07-27 OC397290 core:WithinOneYear 2023-07-28 OC397290 core:CostValuation core:Non-currentFinancialInstruments 2024-07-27 OC397290 core:Non-currentFinancialInstruments 2024-07-27 OC397290 core:Non-currentFinancialInstruments 2023-07-28 OC397290 bus:SmallEntities 2023-07-29 2024-07-27 OC397290 bus:AuditExemptWithAccountantsReport 2023-07-29 2024-07-27 OC397290 bus:SmallCompaniesRegimeForAccounts 2023-07-29 2024-07-27 OC397290 bus:LimitedLiabilityPartnershipLLP 2023-07-29 2024-07-27 OC397290 bus:FullAccounts 2023-07-29 2024-07-27
REGISTERED NUMBER: OC397290
SOUND MALTA LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
27 July 2024
SOUND MALTA LLP
STATEMENT OF FINANCIAL POSITION
27 July 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Investments
4
889
889
CURRENT ASSETS
Debtors
5
110,038
70,195
Cash at bank and in hand
14,894
738
---------
--------
124,932
70,933
CREDITORS: amounts falling due within one year
6
( 30,051)
( 19,748)
---------
--------
NET CURRENT ASSETS
94,881
51,185
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
95,770
52,074
--------
--------
NET ASSETS
95,770
52,074
--------
--------
REPRESENTED BY:
LOANS AND OTHER DEBTS DUE TO MEMBERS
Other amounts
7
95,770
52,074
--------
--------
MEMBERS' OTHER INTERESTS
Other reserves
--------
--------
95,770
52,074
--------
--------
TOTAL MEMBERS' INTERESTS
Amounts due from members
(50,161)
(57,151)
Loans and other debts due to members
7
95,770
52,074
Members' other interests
--------
--------
45,609
(5,077)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of income and retained earnings has not been delivered.
For the period ending 27 July 2024 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
SOUND MALTA LLP
STATEMENT OF FINANCIAL POSITION (continued)
27 July 2024
These financial statements were approved by the members and authorised for issue on 17 July 2025 , and are signed on their behalf by:
S ound Concerts Limited
Designated Member
Registered number: OC397290
SOUND MALTA LLP
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 27 JULY 2024
1.
GENERAL INFORMATION
The LLP is registered in England and Wales. The address of the registered office is The Faversham, 1-5 Springfield Mount, Leeds, LS2 9NG.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Members' participation rights
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of income and retained earnings within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
INVESTMENTS
Unlisted
£
Cost
At 29 July 2023 and 27 July 2024
889
----
Impairment
At 29 July 2023 and 27 July 2024
----
Carrying amount
At 27 July 2024
889
----
At 28 July 2023
889
----
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5.
DEBTORS
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest
59,748
12,915
Other debtors
50,290
57,280
---------
--------
110,038
70,195
---------
--------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,699
4,377
Social security and other taxes
234
253
Amounts due to related companies
24,443
14,443
Other creditors
675
675
--------
--------
30,051
19,748
--------
--------
7.
LOANS AND OTHER DEBTS DUE TO MEMBERS
2024
2023
£
£
Amounts owed to members in respect of profits
95,770
52,074
--------
--------