Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 true false 2024-04-01 2 2 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC345958 2024-04-01 2025-03-31 OC345958 2023-04-01 2024-03-31 OC345958 2025-03-31 OC345958 2024-03-31 OC345958 c:OfficeEquipment 2024-04-01 2025-03-31 OC345958 c:OfficeEquipment 2025-03-31 OC345958 c:OfficeEquipment 2024-03-31 OC345958 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC345958 c:CurrentFinancialInstruments 2025-03-31 OC345958 c:CurrentFinancialInstruments 2024-03-31 OC345958 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC345958 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC345958 d:FRS102 2024-04-01 2025-03-31 OC345958 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC345958 d:FullAccounts 2024-04-01 2025-03-31 OC345958 d:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC345958 d:PartnerLLP1 2024-04-01 2025-03-31 OC345958 c:FurtherSpecificReserve2ComponentTotalEquity 2025-03-31 OC345958 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC345958 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC345958 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC345958 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC345958 HOT SPRING MUSIC LLP UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HOT SPRING MUSIC LLP REGISTERED NUMBER:OC345958
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 3,350 |  | 9,831
|  |  | 3,350 |  | 9,831
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 29,131 |  | 25,501 |
Cash at bank | 6 | 1,257 |  | 8,499 |
|  | 30,388 |  | 34,000 |
Creditors: amounts falling due within one year | 7 | (26,464) |  | (6,764) |
Net current assets |  |  | 3,924 |  | 27,236
Total assets less current liabilities |  |  | 7,274 |  | 37,067
Net assets |  |  | 7,274 |  | 37,067
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 8 |  | 95,610 |  | 96,024
|  |  | 95,610 |  | 96,024
Members' other interests |  |  |  |  |
Other reserves |  | (88,336) |  | (58,957) |
|  |  | (88,336) |  | (58,957)
|  |  | 7,274 |  | 37,067
Total members' interests |  |  |  |  |
Loans and other debts due to members | 8 |  | 95,610 |  | 96,024
Members' other interests |  |  | (88,336) |  | (58,957)
|  |  | 7,274 |  | 37,067
Page 1
HOT SPRING MUSIC LLP REGISTERED NUMBER:OC345958
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 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:
H M C Goldsmith
Designated member
Date: 10 November 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
HOT SPRING MUSIC LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Hot Spring Music LLP is a limited liability partnership, registered in England and Wales, registration number OC345958. 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 music production. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
| 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 are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in the profit and loss account.
| 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 the music production 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 per royalty statements. Royalties payable are calculated by reference to statements of account used for determining royalties receivable. Advances received are recognised as income in the profit and loss account in the year when they are non-refundable. Advances made to artists in respect of future royalties are treated as current assets and written off to the profit and loss account when the royalties are recognised. Page 3
HOT SPRING MUSIC LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | 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, which are recognised as loan assets repayable. In the event of the LLP making losses, the loss is recognised as a debit within equity under 'Other reserves'.
| 2.5 | 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:
|  |  |  | Office equipment | - | 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.
| 2.6 | 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.
| 2.7 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | 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
HOT SPRING MUSIC LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Financial instruments
The LLP enters into basic financial intrument 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 (2024 - 2).
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 April 2024 | 67,171
| Additions | 515
| Disposals | (59,962)
| At 31 March 2025 | 7,724
| Depreciation |
| At 1 April 2024 | 57,340
| Charge for the year | 2,587
| Disposals | (55,553)
| At 31 March 2025 | 4,374
| Net book value |
| At 31 March 2025 | 3,350
| At 31 March 2024 | 9,831
Page 5
HOT SPRING MUSIC LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 6,098 | 37
| Other debtors | 21,399 | 25,018
| Prepayments | 1,634 | 446
|  | 29,131 | 25,501
6. | Cash
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank | 1,257 | 8,499
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 16,236 | 479
| Other taxation and social security | 473 | 1,312
| Other creditors | 512 | 511
| Accruals | 9,243 | 4,462
|  | 26,464 | 6,764
8. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 95,610 | 96,024
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 95,610 | 96,024
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 6
HOT SPRING MUSIC LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Prior year adjustment
An amount of £10,194 had been wrongly classified as administration expenses rather than cost of sales. This has now been amended as a prior year adjustment. As a result, cost of sales has increased by £10,194 and administration expenses have decreased by £10,194. These adjustments have no impact on other reserves.
Page 7