Smuggler Entertainment LLP
Annual Report and Unaudited Financial Statements
For filing with the Registrar
For the year ended 31 December 2019
Limited Liability Partnership Registration No. OC382282 (England and Wales)
Smuggler Entertainment LLP
Limited Liability Partnership Information
Designated members
B Carmody
P Milling Smith
H Rabbatts
Limited liability partnership number
OC382282
Registered office
16 Carlisle Street
London
W1D 3BT
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
16 Carlisle Street
London
W1D 3BT
Smuggler Entertainment LLP
Contents
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 6
Smuggler Entertainment LLP
Balance Sheet
As at 31 December 2019
Page 1
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
4
3,000,000
3,000,000
Current assets
Debtors
301
301
Cash and cash equivalents
1,772
4,026
2,073
4,327
Creditors: amounts falling due within one year
5
(1,006)
(2,700)
Net current assets
1,067
1,627
Total assets less current liabilities
3,001,067
3,001,627
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
3,000,667
3,001,227
Members' other interests
Members' capital classified as equity
400
400
3,001,067
3,001,627
Total members' interests
Loans and other debts due to members
3,000,667
3,001,227
Members' other interests
400
400
3,001,067
3,001,627
For the financial year ended 31 December 2019 the
limited liability partnership
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 Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared
and delivered
in accordance with the provisions applicable to
limited liability partnerships
subject to the small
limited liability partnerships
' regime.
Smuggler Entertainment LLP
Balance Sheet (Continued)
As at 31 December 2019
Page 2
The financial statements were approved by the members and authorised for issue on 30 June 2021 and are signed on their behalf by:
30 June 2021
H Rabbatts
Designated member
Limited Liability Partnership Registration No. OC382282
Smuggler Entertainment LLP
Reconciliation of Members' Interests
For the year ended 31 December 2019
Page 3
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2019
£
£
£
£
£
£
Amounts due to members
3,001,227
Members' interests at 1 January 2019
400
-
400
3,001,227
3,001,227
3,001,627
Loss for the financial year available for discretionary division among members
-
(560)
(560)
-
-
(560)
Members' interests after loss for the year
400
(560)
(160)
3,001,227
3,001,227
3,001,067
Allocation of loss for the financial year
-
-
-
(560)
(560)
(560)
Other divisions of losses
-
560
560
-
-
560
Members' interests at 31 December 2019
400
-
400
3,000,667
3,000,667
3,001,067
Amounts due to members
3,000,667
3,000,667
Smuggler Entertainment LLP
Reconciliation of Members' Interests (Continued)
For the year ended 31 December 2019
Page 4
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2018
£
£
£
£
£
£
Amounts due to members
3,004,932
Members' interests at 1 January 2018
400
-
400
3,004,932
3,004,932
3,005,332
Loss for the financial year available for discretionary division among members
-
(3,705)
(3,705)
-
-
(3,705)
Members' interests after loss for the year
400
(3,705)
(3,305)
3,004,932
3,004,932
3,001,627
Allocation of loss for the financial year
-
-
-
(3,705)
(3,705)
(3,705)
Other divisions of losses
-
3,705
3,705
-
-
3,705
Members' interests at 31 December 2018
400
-
400
3,001,227
3,001,227
3,001,627
Amounts due to members
3,001,227
3,001,227
Smuggler Entertainment LLP
Notes to the Financial Statements
For the year ended 31 December 2019
Page 5
1
Accounting policies
Limited liability partnership information
Smuggler Entertainment LLP is a limited liability partnership incorporated in England and Wales. The registered office is 16 Carlisle Street, London, W1D 3BT.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The members are committed to meeting the financial obligations of the partnership. On this basis, the members consider it appropriate to prepare the financial statements on the going concern basis.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was nil (2018
: nil).
3
Information in relation to members
2019
2018
Number
Number
Average number of members during the year
3
3
4
Fixed asset investments
2019
2018
£
£
Unlisted investments
3,000,000
3,000,000
Smuggler Entertainment LLP
Notes to the Financial Statements (Continued)
For the year ended 31 December 2019
4
Fixed asset investments
(Continued)
Page 6
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2019 & 31 December 2019
3,000,000
Carrying amount
At 31 December 2019
3,000,000
At 31 December 2018
3,000,000
5
Creditors: amounts falling due within one year
2019
2018
£
£
Accruals and deferred income
1,006
2,700
6
Loans and other debts due to members
2019
2018
£
£
Analysis of loans
Amounts falling due within one year
3,000,667
3,001,227
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.
7
Controlling party
The limited liability partnership is controlled by its members.
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