Limited Liability Partnership Registration No. OC385722 (England and Wales)
BLAZEPARK TOURING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
BLAZEPARK TOURING LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
J Bradfield
N Jones
S Moore
Limited liability partnership number
OC385722
Registered office
3rd Floor
Colwyn Chambers
19 York Street
Manchester
M2 3BA
Accountants
OJK Limited
3rd Floor
Colwyn Chambers
19 York Street
Manchester
M2 3BA
BLAZEPARK TOURING LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
BLAZEPARK TOURING LLP
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
3
53,145
175,578
Cash at bank and in hand
22,165
90,164
75,310
265,742
Creditors: amounts falling due within one year
4
(54,954)
(286,610)
Net current assets/(liabilities)
20,356
(20,868)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
(57,517)
37,431
Members' other interests
Other reserves classified as equity
77,873
(58,299)
20,356
(20,868)
Total members' interests
Loans and other debts due to members
(57,517)
37,431
Members' other interests
77,873
(58,299)
20,356
(20,868)
T
he members of the
limited liability partnership
have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 31 March 2017 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.
BLAZEPARK TOURING LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2017
31 March 2017
- 2 -
The financial statements were approved by the members and authorised for issue on 20 December 2017 and are signed on their behalf by:
20 December 2017
N Jones
Designated member
Limited Liability Partnership Registration No. OC385722
BLAZEPARK TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
- 3 -
1
Accounting policies
Limited liability partnership information
Blazepark Touring LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3rd Floor, Colwyn Chambers, 19 York Street, Manchester, M2 3BA.
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 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the limited liability partnership.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for live performances, and recharged expenses net of Value Added Tax.
1.3
Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the
m
embers' agreement (for example, in respect of amounts subscribed or otherwise contributed
remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that
are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of
FRS 102.
All amounts due to members that are classified as liabilities are presented within 'Loans and other
debts due to members'
.
1.4
Financial instruments
The limited liability partnership
only
has
basic and has
elected to apply the provisions of Section 11 ‘Basic Financial Instruments’
.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction
.
Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction
.
BLAZEPARK TOURING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
1
Accounting policies
(Continued)
- 4 -
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was 3 (2016 - 3).
3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
42,461
165,963
Amounts owed by group undertakings
439
-
Other debtors
10,245
9,615
53,145
175,578
4
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
(18)
5,829
Other creditors
54,972
280,781
54,954
286,610
5
Deferred income
2017
2016
£
£
Other deferred income
44,274
165,963