ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

Registered number: OC451153

KGJ TOURING LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

KGJ TOURING LLP

REGISTERED NUMBER: OC451153

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	1,284		86,662
Cash at bank and in hand	5	27,717		16,128
		29,001		102,790
Creditors: amounts falling due within one year	6	(20,917)		(91,893)
Net current assets			8,084		10,897
Total assets less current liabilities			8,084		10,897

Net assets			8,084		10,897

Represented by:
Loans and other debts due to members within one year
Other amounts	7		10,897		10,897
			10,897		10,897
Members' other interests
Other reserves classified as equity		(2,813)		-
			(2,813)		-
			8,084		10,897

Total members' interests
Loans and other debts due to members	7	10,897	10,897
Members' other interests		(2,813)	-
		8,084	10,897

KGJ TOURING LLP

REGISTERED NUMBER: OC451153

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

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:

KGJ Music Ltd

Designated member

Date: 18 September 2026

The notes on pages 3 to 6 form part of these financial statements.

KGJ TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

KGJ Touring LLP is a limited liability partnership, registered in England and Wales, registration number OC451153. During the year, the LLP changed its registered office address from 56 Hiltingbury Road, Eastleigh, Hampshire, SO53 5SS to 3 Hook Close, Ampfield, Romsey, SO51 9DD.

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

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 of 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.

2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentation 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 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 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 revenue 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 the music touring is recognised as the related performances obligations are satisfied and only to the extent that it is probable that the company will be entitled to the consideration due under the contract.

Income from music touring is recognised once the performance have taken place.

KGJ TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.4

Interest income

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

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 they 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.

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 trade and other debtors, other creditors and loans with related parties.

Employees

The average monthly number of employees, including the member, during the year was 1 (2025 - 1).

KGJ TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Trade debtors	-	84,393
Other debtors	1,284	2,269
	1,284	86,662

5.	Cash
		2026	2025
		£	£

	Cash at bank and in hand	27,717	16,128

6.	Creditors: amounts falling due within one year
		2026	2025
		£	£

Other creditors	1,750	-
Accruals and deferred income	19,167	91,893
	20,917	91,893


	Other amounts due to members	10,897	10,897

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

					2026	2025
					£	£


	Falling due within one year	10,897	10,897

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

KGJ TOURING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	Prior year adjustment

In the prior year, an amount of £4,471 had been misallocated as administrative expenses rather than cost of sales. This has now been amended as a reclassification and a prior year adjustment. As a result, administrative expenses have reduced by £4,471 and cost of sales has increased by £4,471. These adjustments have no impact on retained earnings.