Limited Liability Partnership registration number OC374194 (England and Wales)
RUGAGUG LIVE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 DECEMBER 2023 TO 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RUGAGUG LIVE LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RUGAGUG LIVE LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
30 November 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
273
616
Current assets
Debtors
4
41,891
4,269
Cash at bank and in hand
46,320
87,600
88,211
91,869
Creditors: amounts falling due within one year
5
(7,143)
(2,979)
Net current assets
81,068
88,890
Total assets less current liabilities and net assets attributable to members
81,341
89,506
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
89,961
95,140
Members' other interests
Other reserves classified as equity
(8,620)
(5,634)
81,341
89,506

For the financial period ended 31 March 2025 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 19 August 2025 and are signed on their behalf by:
19 August 2025
M Potter
Designated member
Limited Liability Partnership registration number OC374194 (England and Wales)
RUGAGUG LIVE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Limited liability partnership information

Rugagug Live 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
Accounting convention

The financial statements are prepared under the historical cost convention.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial statements cover an extended period of 16 months from 1 December 2023 to 31 March 2025. As a result, the financial statements for the current period are not directly comparable to those of the preceding financial year ended 30 November 2023. Comparative figures have been presented for the preceding period ended 30 November 2023 for all items in the financial statements.

1.3
Turnover

Turnover represents amounts receivable for live musical performances 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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

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 machinery
25% Reducing balance
1.6
Financial instruments

The company has only basic financial instruments.

RUGAGUG LIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

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

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2025
2023
Number
Number
Total
-
0
-
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 and 31 March 2025
11,305
Depreciation and impairment
At 1 December 2023
10,689
Depreciation charged in the period
343
At 31 March 2025
11,032
Carrying amount
At 31 March 2025
273
At 30 November 2023
616
4
Debtors
2025
2023
Amounts falling due within one year:
£
£
Other debtors
41,891
4,269
RUGAGUG LIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
5
Creditors: amounts falling due within one year
2025
2023
£
£
Taxation and social security
3,110
-
Other creditors
4,033
2,979
7,143
2,979
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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