ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

Shiny Disco UK LLP

Registered number: OC428733

Information for filing with
Registrar

For the year ended 5 April 2025

OC428733

05 April 2025

SHINY DISCO UK LLP

REGISTERED NUMBER: OC428733

STATEMENT OF FINANCIAL POSITION

AS AT 5 APRIL 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	10,211		-
Cash and cash equivalents		694,952		501,552
		705,163		501,552
Creditors: amounts falling due within one year	5	(28,962)		(35,460)
Net current assets			676,201		466,092
Total assets less current liabilities			676,201		466,092

Net assets			676,201		466,092

Represented by:
Loans and other debts due to members within one year
Other amounts	6	598,392	377,087
		598,392	377,087
Members' other interests
Members' capital classified as equity		77,809	89,005
		676,201	466,092

Total members' interests
Loans and other debts due to members	6	598,392	377,087
Members' other interests		77,809	89,005
Total members' interests		676,201	466,092

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OC428733

05 April 2025

SHINY DISCO UK LLP

REGISTERED NUMBER: OC428733

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 5 APRIL 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:

T Davies

On behalf of Short Stuff Limited as designated member

Date: 23 December 2025

The notes on pages 3 to 8 form part of these financial statements.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1.	General information

Shiny Disco UK LLP is a private limited liability partnership, incorporated and registered in England and Wales. The LLP's registered number is OC428733. The LLP's registered office address is 30 Old Bailey, London, EC4M 7AU. The LLP does not have a principal place of business within the United Kingdom.
The principal objective of the LLP is to earn commission on sales from marketing clothing.

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.

These financial statements have been presented in Pounds Sterling and are rounded to the nearest pound, as this is the LLP’s functional currency, being the currency of the primary economic environment in which the LLP operates.

The following principal accounting policies have been applied:

2.2

Going concern

The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for a period not less than 12 months from the date of signature of these financial statements. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentation 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 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 the Statement of Comprehensive Income within 'administrative expenses'.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.4

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. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of Comprehensive Income.

2.6

Debtors: amounts falling due within one year

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 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.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.8

Creditors: amounts falling due within one year

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 LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Statement of Financial Position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.9

Financial instruments (continued)

Basic financial liabilities

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 LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

2.10

Transfer of members' interests

During the year £11,196 was transferred from members' capital interests to debts due to members.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

Employees

The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:

	2025	2024
	No.	No.

Members	1	1

4.	Debtors: amounts falling due within one year

					2025	2024
					£	£


Trade debtors	9,427	-
Other debtors	784	-
	10,211	-

Other debtors relate to VAT repayable.

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

Amounts owed to related parties	6,612	-
Other taxation and social security	-	23,411
Other creditors	9,930	-
Accruals and deferred income	12,420	12,049
	28,962	35,460

Amounts owed to related parties are unsecured, interest-free and repayable on demand.

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OC428733

05 April 2025

SHINY DISCO UK LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025


	Other amounts due to members	598,392	377,087

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

					2025	2024
					£	£


	Falling due within one year	(598,392)	(377,087)

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

7.	Related party transactions
	The LLP is not required to disclose related party transactions that have been concluded under normal conditions.

8.	Post balance sheet events

There have been no significant events affecting the LLP since the year-end.

9.	Controlling party

The ultimate controlling party is D J Minogue.

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