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Registered number: OC383770 EPC ENTERPRISES LLP FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
EPC ENTERPRISES LLP
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 4 - 9
EPC ENTERPRISES LLP REGISTERED NUMBER:OC383770
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 216,924 |  | 20,327
Investments | 5 |  | 15,000 |  | 15,000
|  |  | 231,924 |  | 35,327
Current assets |  |  |  |  |
Stocks | 6 | 331,384 |  | 813,582 |
Debtors | 7 | 2,345,061 |  | 1,612,198 |
Cash at bank and in hand |  | 4,577,546 |  | 3,617,755 |
|  | 7,253,991 |  | 6,043,535 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 8 | (2,588,110) |  | (272,141) |
Net current assets |  |  | 4,665,881 |  | 5,771,394
Total assets less current liabilities |  |  | 4,897,805 |  | 5,806,721
Creditors: amounts falling due after more than one year | 9 |  | (121,869) |  | -
Net assets |  |  | 4,775,936 |  | 5,806,721
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 10 |  | 4,775,836 |  | 5,806,621
Members' other interests |  |  |  |  |
Members' capital classified as equity |  |  | 100 |  | 100
|  |  | 4,775,936 |  | 5,806,721
Total members' interests |  |  |  |  |
Loans and other debts due to members | 10 |  | 4,775,836 |  | 5,806,621
Members' other interests |  |  | 100 |  | 100
|  |  | 4,775,936 |  | 5,806,721
Page 1
EPC ENTERPRISES LLP REGISTERED NUMBER:OC383770
STATEMENT OF FINANCIAL POSITION (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 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 on 7 January 2026.
EPC Entertainment Limited
Designated member
The notes on pages 4 to 9 form part of these financial statements. EPC Enterprises 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. Page 2
EPC ENTERPRISES LLP
RECONCILIATION OF MEMBERS' INTERESTS FOR THE YEAR ENDED 31 MARCH 2025
| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Total | Other amounts | Total | Total
| £ | £ | £ | £ | £
Amounts due to members |  |  | 6,211,690 | 6,211,690 |
Balance at 1 April 2023 | 100 | 100 | 6,211,690 | 6,211,690 | 6,211,790
Members' remuneration charged as an expense | - | - | 4,691,533 | 4,691,533 | 4,691,533
Members' interests after profit for the year | 100 | 100 | 10,903,223 | 10,903,223 | 10,903,323
Drawings on account and distribution of profit | - | - | (5,096,601) | (5,096,601) | (5,096,601)
Amounts due to members |  |  | 5,806,621 | 5,806,621 |
Balance at 31 March 2024 | 100 | 100 | 5,806,621 | 5,806,621 | 5,806,721
Members' remuneration charged as an expense | - | - | 9,971,498 | 9,971,498 | 9,971,498
Members' interests after profit for the year | 100 | 100 | 15,778,119 | 15,778,119 | 15,778,219
Drawings on account and distribution of profit | - | - | (11,002,283) | (11,002,283) | (11,002,283)
Amounts due to members |  |  | 4,775,836 | 4,775,836 |
Balance at 31 March 2025 | 100 | 100 | 4,775,836 | 4,775,836 | 4,775,936
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.
Page 3
EPC ENTERPRISES LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
EPC Enterprises LLP is a limited liability partnership incorporated in England & Wales, with its principal place of business and registered office address at Suite 3 Old King's Head Court, 11 High Street, Dorking, Surrey, RH4 1AR. The principal activity of the LLP during the year was the provision of the services of an artist in the entertainment industry throughout the world, excluding touring activities in North America which are conducted by a related party under common control. 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. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover represents recording and publishing royalties and touring services receivable during the year. Royalties are recognised in the period in which the company becomes entitled to the income. Touring income is recognised in the period the relevant services and tour takes place.
| 2.3 | Foreign currency translation
The company's functional and presentational currency is £ Sterling. 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. Foreign exchange gains and losses are recognised in the Statement of Comprehensive Income.
| 2.4 | Pensions
Defined contribution pension plan The LLP contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds. Page 4
EPC ENTERPRISES 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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of Comprehensive Income. In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
| 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:
|  |  |  | Right of use asset | - | Over 5 years
|  |  |  | Office equipment | - | Over 4 years
|  |  |  | Computer equipment | - | Over 3 years
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.
| 2.7 | Valuation of investments
Fixed asset investments are accounted for at cost. The carrying values of fixed asset investments are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
| 2.8 | Work in progress
Work in progress represents record production costs of incomplete projects, which are stated in the Statement of Financial Position at the lower of cost and estimated net realisable value. Page 5
EPC ENTERPRISES LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Debtors
Short term debtors are measured at the transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.
| 2.11 | Lease liability
The company has early adopted the requirements of FRS102 Section 20 Leases, which permits the recognition of lease liabilities and corresponding right-of-use assets from the current financial period in advance of the mandatory effective date. At the commencement date of a lease, the company recognises the lease liability representing the present value of future lease payments, discounted using the company’s incremental borrowing rate. Lease liabilities are subsequently measured at amortised cost using the effective interest method, with interest expense recognised over the lease term and the liability reduced for lease payments made. The maturity analysis of lease liabilities at the reporting date is shown in Note 10. Right-of-use assets associated with these lease liabilities are presented within tangible fixed assets under 'Right-of-use asset' (see Note 4) and are depreciated over the lease term.
| 2.12 | Creditors
Short term creditors are measured at the transaction price.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
Page 6
EPC ENTERPRISES LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Right of use asset | Motor vehicles | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost |  |  |  |  |
| At 1 April 2024 | - | 2,400 | 4,364 | 38,999 | 45,763
| Additions | 229,685 | - | - | 34,556 | 264,241
| At 31 March 2025 | 229,685 | 2,400 | 4,364 | 73,555 | 310,004
| Depreciation |  |  |  |  |
| At 1 April 2024 | - | 2,400 | 1,972 | 21,065 | 25,437
| Charge for the year on owned assets | 54,044 | - | 971 | 12,628 | 67,643
| At 31 March 2025 | 54,044 | 2,400 | 2,943 | 33,693 | 93,080
| Net book value |  |  |  |  |
| At 31 March 2025 | 175,641 | - | 1,421 | 39,862 | 216,924
| At 31 March 2024 | - | - | 2,392 | 17,934 | 20,326
5. | Fixed asset investments
|  | Other fixed asset investments
|  | £
| Cost |
| At 1 April 2024 | 15,000
| At 31 March 2025 | 15,000
6. | Work in progress
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 331,384 | 813,582
7. | Debtors
Page 7
EPC ENTERPRISES LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 45,215 | 51,847
| Due within one year |  |
| Trade debtors | 43,314 | 2,825
| Other debtors | 248,149 | 433,193
| Prepayments and accrued income | 2,008,383 | 1,124,333
|  | 2,345,061 | 1,612,198
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 201,304 | 62,576
| Obligations under finance lease and hire purchase contracts | 48,828 | -
| Other creditors | 18,102 | 19,536
| Accruals and deferred income | 2,319,876 | 190,029
|  | 2,588,110 | 272,141
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under operating finance leases | 121,869 | -
10. | Amounts due to members
| Other amounts due to members | 4,775,836 | 5,806,621
Loans and other debts due to members may be further analysed as follows:
| Falling due within one year | 4,775,836 | 5,806,621
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 8
EPC ENTERPRISES LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 7 January 2026 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
Page 9