ACCOUNTS - Final Accounts

Loans and other debts due to members

Registered number: OC407602

PAUL CARRACK TOURING LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


PAUL CARRACK TOURING LLP REGISTERED NUMBER:OC407602

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	128,650		25,977
Cash at bank and in hand	5	16,177		33,638
		144,827		59,615
Creditors: amounts falling due within one year	6	(61,399)		(29,436)
Net current assets			83,428		30,179
Total assets less current liabilities			83,428		30,179

Net assets			83,428		30,179

Represented by:
Loans and other debts due to members within one year
Other amounts	7	83,428	30,179
		83,428	30,179

		83,428	30,179

Total members' interests
Loans and other debts due to members	7	83,428	30,179
		83,428	30,179

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PAUL CARRACK TOURING LLP REGISTERED NUMBER:OC407602

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:

P M Carrack

Designated member

Date: 15 December 2025

The notes on pages 3 to 5 form part of these financial statements.

Paul Carrack Touring 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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PAUL CARRACK TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Paul Carrack Touring LLP is a limited liability partnership, registered in England and Wales, registration number OC407602. The registered office addres is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the LLP continued to be that of providing music touring services.

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

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 and cash 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 providing music touring services is recognised when it is probable the LLP will receive the rights to the consideration due under the contract.

Performance income is recognised when a performance has taken place.

Merchandise income is recognised when the significant risks and rewards of ownership have been transferred to the buyer.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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PAUL CARRACK TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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, which are recognised as loan assets repayable.

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.

2.9

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and trade and other creditors, and loans with related parties.

Employees

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

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PAUL CARRACK TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	98,687	24,033
Other debtors	1,015	-
Prepayments and accrued income	28,948	1,944
	128,650	25,977

5.	Cash
		2025	2024
		£	£

	Cash at bank	16,177	33,638

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Trade creditors	-	120
Other taxation and social security	-	114
Other creditors	12,031	642
Accruals and deferred income	49,368	28,560
	61,399	29,436


	Other amounts due to members	83,428	30,179

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

					2025	2024
					£	£


	Falling due within one year	83,428	30,179

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

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