Paul Tweed Media LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: NC000898 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Paul Tweed Media LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P Tweed

Ms S Kerins

REGISTERED OFFICE:

Forsyth House

Cromac Square

Belfast

Antrim

BT2 8LA

REGISTERED NUMBER:

NC000898 (Northern Ireland)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Intangible assets

4

1,800,000

-

CURRENT ASSETS

Cash at bank

1,643

887

CREDITORS

Amounts falling due within one year

5

(900

)

(900

)

NET CURRENT ASSETS/(LIABILITIES)

743

(13

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS/(LIABILITIES) ATTRIBUTABLE TO MEMBERS

1,800,743

(13

)

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

2,479,214

478,714

Other reserves

6

(678,471

)

(478,727

)

1,800,743

(13

)

TOTAL MEMBERS' INTERESTS

Members' other interests

1,800,743

(13

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 December 2023 and were signed by:

P Tweed - Designated member

1.	STATUTORY INFORMATION

Paul Tweed Media LLP is registered in Northern Ireland. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern

After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of ten years.

Debtors and creditors receivable/payable in one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

2,000,000

At 31 March 2023

2,000,000

AMORTISATION

Charge for year

200,000

At 31 March 2023

200,000

NET BOOK VALUE

At 31 March 2023

1,800,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other creditors

900

900

6.

RESERVES

Other

reserves

£

At 1 April 2022

(478,727

)

Undivided profit

(199,744

)

At 31 March 2023

(678,471

)

7.	RELATED PARTY DISCLOSURES

The controlling party is P Tweed.