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REGISTERED NUMBER: OC420092 (England and Wales)















Unaudited Financial Statements

for the period

1 December 2022 to 31 March 2024

for

FABRIC VENTURES LLP

FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092)

Contents of the Financial Statements
for the period 1 December 2022 to 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FABRIC VENTURES LLP

General Information
for the period 1 December 2022 to 31 March 2024







Designated members: Fabric Ventures Group Sarl
R M Muirhead
A Hansjee





Registered office: 58 Wood Lane
London
W12 7RZ





Registered number: OC420092 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092)

Balance Sheet
31 March 2024

2024 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 13,292 18,923

Current assets
Debtors 5 3,201,453 7,249,968
Cash at bank 105,736 1,394,204
3,307,189 8,644,172
Creditors
Amounts falling due within one year 6 213,025 1,256,018
Net current assets 3,094,164 7,388,154
Total assets less current liabilities 3,107,456 7,407,077

Creditors
Amounts falling due after more than one
year

7

3,107,456

7,407,077
Net liabilities attributable to members - -

Loans and other debts due to members - -

Total members' interests
Amounts due from members 5 (5,658,004 ) (3,880,706 )

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 period 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.

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 31 January 2025 and were signed by:





R M Muirhead - Designated member

FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092)

Notes to the Financial Statements
for the period 1 December 2022 to 31 March 2024


1. Statutory information

Fabric Ventures LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 33% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Long accounting period
The prior year figures are not directly comparable to the current period figures. This is due to the prior year accounting period beng 12 months and the the current accounting period being 16 months.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024


3. Employee information

The average number of employees during the period was 7 (2022 - 7 ) .

4. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£ £ £
Cost
At 1 December 2022 4,362 29,016 33,378
Additions - 9,095 9,095
At 31 March 2024 4,362 38,111 42,473
Depreciation
At 1 December 2022 1,492 12,963 14,455
Charge for period 1,753 12,973 14,726
At 31 March 2024 3,245 25,936 29,181
Net book value
At 31 March 2024 1,117 12,175 13,292
At 30 November 2022 2,870 16,053 18,923

5. Debtors: amounts falling due within one year
2024 2022
£ £
Trade debtors 810 111,903
Other debtors 3,200,643 7,138,065
3,201,453 7,249,968

6. Creditors: amounts falling due within one year
2024 2022
£ £
Bank loans and overdrafts 7,152 -
Trade creditors 18,220 55,943
Taxation and social security 22,192 22,099
Other creditors 165,461 1,177,976
213,025 1,256,018

7. Creditors: amounts falling due after more than one year
2024 2022
£ £
Bank loans 5,167 -
Other creditors 3,102,289 7,407,077
3,107,456 7,407,077