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REGISTERED NUMBER: OC333962 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

NCTM LLP

NCTM LLP (REGISTERED NUMBER: OC333962)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NCTM LLP

GENERAL INFORMATION
for the Year Ended 31 December 2021







DESIGNATED MEMBERS: M Gallanti
P Montironi
V Noseda
A F M Toffoletto
F Pizzoccheri
G Serra Zanetti





REGISTERED OFFICE: 40 Bruton Street
London
W1J 6QZ





REGISTERED NUMBER: OC333962 (England and Wales)





ACCOUNTANTS: Vera Group Ltd
15 Hanover Square
London
W1S 1HS

NCTM LLP (REGISTERED NUMBER: OC333962)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,352 5,648

CURRENT ASSETS
Debtors 5 2,444,750 1,697,355
Cash at bank and in hand 307,874 514,205
2,752,624 2,211,560
CREDITORS
Amounts falling due within one year 6 1,869,632 1,772,615
NET CURRENT ASSETS 882,992 438,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,344

444,593

CREDITORS
Amounts falling due after more than one
year

7

24,604

-
NET ASSETS ATTRIBUTABLE TO
MEMBERS

888,740

444,593

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,349

-

MEMBERS' OTHER INTERESTS
Other reserves 887,391 444,593
888,740 444,593

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,349 -
Members' other interests 887,391 444,593
Amounts due from members 5 (314,445 ) (701,870 )
574,295 (257,277 )

NCTM LLP (REGISTERED NUMBER: OC333962)

BALANCE SHEET - continued
31 December 2021


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 December 2021.

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 2 September 2022 and were signed by:





M Gallanti - Designated member

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

NCTM LLP is registered in England and Wales. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - Straight line over 10 years
Fixtures and fittings - Straight line over 5 years and Straight line over 10 years
Equipment - Straight line over 5 years

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members'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. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Income Statement in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the in the Statement of Financial Position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Income Statement and are equity appropriations in the Statement of Financial Position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Income Statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2020 - 5 ) .

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 39,040 363,132 41,533 443,705
Additions - - 29,950 29,950
At 31 December 2021 39,040 363,132 71,483 473,655
DEPRECIATION
At 1 January 2021 39,040 361,716 37,301 438,057
Charge for year - 949 4,297 5,246
At 31 December 2021 39,040 362,665 41,598 443,303
NET BOOK VALUE
At 31 December 2021 - 467 29,885 30,352
At 31 December 2020 - 1,416 4,232 5,648

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 409,161 541,831
Amounts due from members 314,445 701,870
Other debtors 234,166 14,098
Ex members current balance 195,697 -
VAT 4,274 -
Prepayments and accrued income 1,222,372 334,705
Prepayments 64,635 104,851
2,444,750 1,697,355

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts 6,950 -
Trade creditors 1,903 8,995
Social security and other taxes 49,877 9,361
VAT - 3,583
Other creditors 900,913 971,300
Accrued expenses 909,989 779,376
1,869,632 1,772,615

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Hire purchase contracts 24,604 -

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Income Statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.