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REGISTERED NUMBER: OC395302 (England and Wales)






















Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Fiducia Commercial Solutions LLP

Fiducia Commercial Solutions LLP (Registered number: OC395302)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Fiducia Commercial Solutions LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr A R Scott
Mr M J S Grimshaw





REGISTERED OFFICE: Unit 6
Aura Business Centre
Manners Road
Newark
Nottinghamshire
NG24 1BS





REGISTERED NUMBER: OC395302 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Report of the Members
for the Year Ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of financial broker.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr A R Scott
Mr M J S Grimshaw

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £1,855 (2023 - £475 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mr A R Scott - Designated member


4 November 2024

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Fiducia Commercial Solutions LLP


In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Fiducia Commercial Solutions LLP for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Fiducia Commercial Solutions LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fiducia Commercial Solutions LLP and state those matters that we have agreed to state to the members of Fiducia Commercial Solutions LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fiducia Commercial Solutions LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Fiducia Commercial Solutions LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fiducia Commercial Solutions LLP. You consider that Fiducia Commercial Solutions LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fiducia Commercial Solutions LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


4 November 2024

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Income Statement
for the Year Ended 31 March 2024

2024 2023
£    £   

TURNOVER 1,289,225 1,074,122

Cost of sales 841,941 598,700
GROSS PROFIT 447,284 475,422

Administrative expenses 432,576 480,888
14,708 (5,466 )

Other operating income - 6,432
OPERATING PROFIT 14,708 966


Interest payable and similar expenses 12,853 1,441
PROFIT/(LOSS) FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS



1,855



(475



)

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5,148

CURRENT ASSETS
Debtors 5 90,179 55,519
Cash at bank 2,968 66,204
93,147 121,723
CREDITORS
Amounts falling due within one year 6 363,460 311,257
NET CURRENT LIABILITIES (270,313 ) (189,534 )
TOTAL ASSETS LESS CURRENT LIABILITIES (270,313 ) (184,386 )

CREDITORS
Amounts falling due after more than one year 7 29,258 29,376
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(299,571

)

(213,762

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

187,126

185,271

MEMBERS' OTHER INTERESTS
Capital accounts (486,697 ) (399,033 )
(299,571 ) (213,762 )

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 187,126 185,271
Members' other interests (486,697 ) (399,033 )
(299,571 ) (213,762 )

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 2024.

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.

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 4 November 2024 and were signed by:





Mr A R Scott - Designated member

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fiducia Commercial Solutions 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.

Going Concern
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods which is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer and from the rendering of services, which is recognised by reference to the stage completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2023 - 7 ) .

Fiducia Commercial Solutions LLP (Registered number: OC395302)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 35,568
DEPRECIATION
At 1 April 2023 30,420
Charge for year 5,148
At 31 March 2024 35,568
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 5,148

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,179 52,765
Other debtors - 2,754
90,179 55,519

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,734 85,659
Hire purchase contracts 1,545 5,925
Trade creditors 106,767 127,025
Amounts owed to group undertakings 194,286 700
Taxation and social security - 7,866
Other creditors 32,128 84,082
363,460 311,257

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,258 27,831
Hire purchase contracts - 1,545
29,258 29,376

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

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