Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 false 2024-04-01 2 false true The principal activity of the LLP continued to be that of music production.2 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC415612 2024-04-01 2025-03-31 OC415612 2023-04-01 2024-03-31 OC415612 2025-03-31 OC415612 2024-03-31 OC415612 c:CurrentFinancialInstruments 2025-03-31 OC415612 c:CurrentFinancialInstruments 2024-03-31 OC415612 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC415612 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC415612 d:FRS102 2024-04-01 2025-03-31 OC415612 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC415612 d:FullAccounts 2024-04-01 2025-03-31 OC415612 d:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC415612 d:PartnerLLP1 2024-04-01 2025-03-31 OC415612 c:FurtherSpecificReserve2ComponentTotalEquity 2025-03-31 OC415612 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC415612 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC415612 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC415612 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC415612 JEM RECORDS LLP UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
JEM RECORDS LLP REGISTERED NUMBER:OC415612
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 34 |  | 7,822 |
Cash at bank | 5 | 3,014 |  | 5,759 |
|  | 3,048 |  | 13,581 |
Creditors: amounts falling due within one year | 6 | (2,401) |  | (2,228) |
Net current assets |  |  | 647 |  | 11,353
Total assets less current liabilities |  |  | 647 |  | 11,353
Net assets |  |  | 647 |  | 11,353
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 7 |  | 37,560 |  | 36,560
|  |  | 37,560 |  | 36,560
Members' other interests |  |  |  |  |
Other reserves classified as equity |  | (36,913) |  | (25,207) |
|  |  | (36,913) |  | (25,207)
|  |  | 647 |  | 11,353
Total members' interests |  |  |  |  |
Loans and other debts due to members | 7 |  | 37,560 |  | 36,560
Members' other interests |  |  | (36,913) |  | (25,207)
|  |  | 647 |  | 11,353
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JEM RECORDS LLP REGISTERED NUMBER:OC415612
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:
C L Balsam
Designated member
Date: 11 February 2026
The notes on pages 3 to 5 form part of these financial statements. Page 2
JEM RECORDS LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Jem Records LLP is a limited liability partnership, registered in England and Wales, registration number OC415612. 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 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 Liabilities Partnerships'.
| 2.2 | Functional and presentation currency
The LLP's functional and presentational currency is pound sterling.
| 2.3 | Going concern
The financial statements have been prepared on the going concern basis as the members have confirmed they will continue to provide necessary funding in order for the LLP to maintain its operations and meet liabilities in full for at least the next 12 months. On this basis, the members are satisfied that the financial statements should be prepared on a going concern basis.
| 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. Royalties receivable are recognised by the LLP per the royalty statements date. Turnover from music production services is recognised when it is probable the LLP will receive the right to the consideration due under the contract.
| 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. In the event of the LLP making losses, the loss is recognised as a debit within equity under 'Other reserves'. Page 3
JEM RECORDS LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Debtors
Short-term debtors are measured at transaction price, 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 LLP enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as 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. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 34 | 7,822
5. | Cash
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank | 3,014 | 5,759
6. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | - | 1,228
| Accruals | 2,401 | 1,000
|  | 2,401 | 2,228
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JEM RECORDS LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 37,560 | 36,560
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 37,560 | 36,560
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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