ACCOUNTS - Final Accounts preparation

Registered number: OC441553

SA2003 LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

SA2003 LLP

REGISTERED NUMBER: OC441553

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		11,799		15,234
			11,799		15,234
Current assets
Debtors: amounts falling due within one year	5	91,401		29,416
Cash at bank and in hand	6	3,598		99,437
		94,999		128,853
Creditors: Amounts Falling Due Within One Year	7	(181,279)		(168,395)
Net current liabilities			(86,280)		(39,542)
Total assets less current liabilities			(74,481)		(24,308)

Net liabilities			(74,481)		(24,308)

Represented by:
Loans and other debts due to members within one year
Members' other interests
Members' capital classified as equity	(74,481)		(24,308)
		(74,481)		(24,308)
		(74,481)		(24,308)

Total members' interests
Members' other interests	(74,481)	(24,308)
	(74,481)	(24,308)

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SA2003 LLP

REGISTERED NUMBER: OC441553

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 statement of comprehensive income 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:

................................................

P Burger

Designated member

Date: 15 December 2025

The notes on pages 4 to 9 form part of these financial statements.

SA2003 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.

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		SA2003 LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 MARCH 2025


	EQUITY Members' other interests
	Members' capital (classified as equity)	Total
	£	£
Members' interests after profit for the year	(27,909)	(27,909)
Other division of losses	(23,912)	(23,912)
Amounts introduced by members	31,263	31,263
Repayment of capital	(3,750)	(3,750)
Amounts due to members
Amounts due from members
Balance at 31 March 2024	(24,308)	(24,308)
Members' interests after profit for the year	(24,308)	(24,308)
Other division of losses	(73,884)	(73,884)
Amounts introduced by members	65,503	65,503
Repayment of capital	(41,792)	(41,792)
Amounts due to members
Amounts due from members
Balance at 31 March 2025	(74,481)	(74,481)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

SA2003 LLP is limited liability partnership incorporated in the United Kingdom and registered in England and Wales (registered number OC441553). The Partnership's registered office address is 101 New Cavendish Street, London, W1W 6XH.

The principal activity of the LLP is the provision of management and promotional services for music artists.

The financial statements are presented in Sterling, which is the functional currency of the Partnership.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on the going concern basis. The LLP is dependent on the members for financial support, which the members are confident will continue for a period of at least another 12 months following the approval of these financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

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 period 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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

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:

Motor vehicles	-	25%	reducing balance
Office equipment	-	25%	reducing balance
Computer 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.

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

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 and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

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

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Leasehold improvements	Motor vehicles	Fixtures and fittings	Office equipment	Computer equipment
	£	£	£	£	£
Cost or valuation
At 1 April 2024	8,045	17,500	7,430	1,230	27,075
Additions	-	-	-	-	499
At 31 March 2025	8,045	17,500	7,430	1,230	27,574
Depreciation
At 1 April 2024	8,045	4,375	7,430	308	25,889
Charge for the year on owned assets	-	3,281	-	231	421
At 31 March 2025	8,045	7,656	7,430	539	26,310
Net book value
At 31 March 2025	-	9,844	-	691	1,264
At 31 March 2024	-	13,125	-	923	1,186

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.Tangible fixed assets (continued)

		Total
		£
	Cost or valuation
	At 1 April 2024	61,280
	Additions	499
	At 31 March 2025	61,779
	Depreciation
	At 1 April 2024	46,047
	Charge for the year on owned assets	3,933
	At 31 March 2025	49,980
	Net book value
	At 31 March 2025	11,799
	At 31 March 2024	15,234

Debtors

					2025	2024
					£	£


Other debtors	86,560	29,416
Prepayments and accrued income	4,841	-
	91,401	29,416

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SA2003 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	3,598	99,437
	3,598	99,437

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other taxation and social security	236	-
Other creditors	181,043	168,395
	181,279	168,395

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