ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

Registered number: OC373164

KAMPALA LLP

UNAUDITED

MEMBERS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

KAMPALA LLP

REGISTERED NUMBER: OC373164

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		477		849
			477		849
Current assets
Debtors: amounts falling due within one year	5	5,799		2,122
Cash at bank and in hand	6	1,227		2,989
		7,026		5,111
Creditors: amounts falling due within one year	7	(7,503)		(4,357)
Net current (liabilities)/assets			(477)		754
Total assets less current liabilities			-		1,603

Net assets			-		1,603

Represented by:
Loans and other debts due to members within one year
Other amounts	8	-	1,603
		-	1,603

		-	1,603

Total members' interests
Amounts due from members (included in debtors)	5	(3,780)	-
Loans and other debts due to members	8	-	1,603
		(3,780)	1,603

KAMPALA LLP

REGISTERED NUMBER: OC373164

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:

K Rowland

Designated member

Date: 23 October 2026

The notes on pages 3 to 7 form part of these financial statements.

KAMPALA LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Kampala LLP is a limited liability partnership, registered in England and Wales, registration number OC373164.

Post year end date, the LLP changed its registered office address from Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE to First Floor, 14-15 Berners Street, London, W1T 3LJ.

The principal activity of the LLP 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

Going concern

The financial statements have been prepared on the going concern basis as the members have confirmed that they have committed to continue to provide necessary funding in order for the LLP to maintain 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.

2.3

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 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 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.

KAMPALA LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

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.

Turnover from music touring activities is recognised when the related obligations are satisfied and it is probable that the LLP will be entitled to the consideration due under the contract.

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

Income from performances is recognised once the performances have taken place.

2.5

Interest income

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

2.6

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 profit and loss account.

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.

2.7

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.

KAMPALA LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

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:

Computer equipment

20%

straight-line

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.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

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.

2.11

Financial instruments

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

Employees

The average monthly number of employees, including members, during the year was 2 (2025 - 2).

KAMPALA LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 April 2025	1,860
	At 31 March 2026	1,860
	Depreciation
	At 1 April 2025	1,011
	Charge for the year	372
	At 31 March 2026	1,383
	Net book value
	At 31 March 2026	477
	At 31 March 2025	849

Debtors

					2026	2025
					£	£


Trade debtors	-	795
Other debtors	1,297	931
Prepayments and accrued income	722	396
Amounts due from members	3,780	-
	5,799	2,122

6.	Cash
		2026	2025
		£	£

	Cash at bank	1,227	2,989

KAMPALA LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

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

Trade creditors	-	1,210
Other creditors	-	648
Accruals	7,503	2,499
	7,503	4,357


	Other amounts due to members	-	1,603

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

					2026	2025
					£	£


	Falling due within one year	-	1,603

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

9.	Prior year adjustment

During the year, the members identified that certain expenditure amounting to £155,268 had been incorrectly classified within Administrative expenses in the prior year. The comparative figures have been restated and the cost of sales have been increased by £155,268 and administrative expenses have been decreased by the same amount.

This adjustment has no impact on profit before members' remuneration or members' interests.