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REGISTERED NUMBER: OC345770 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

QUARTET CAPITAL PARTNERS LLP

QUARTET CAPITAL PARTNERS LLP (REGISTERED NUMBER: OC345770)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QUARTET CAPITAL PARTNERS LLP

GENERAL INFORMATION
for the year ended 31 May 2024







DESIGNATED MEMBERS: C.G. McInnes
T.S.H. Davies





REGISTERED OFFICE: 16 Water Lane
Richmond
Surrey
TW9 1TJ





REGISTERED NUMBER: OC345770 (England and Wales)





AUDITORS: Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

QUARTET CAPITAL PARTNERS LLP (REGISTERED NUMBER: OC345770)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,114 11,515

CURRENT ASSETS
Debtors 6 279,206 246,731
Cash at bank 334,074 296,957
613,280 543,688
CREDITORS
Amounts falling due within one year 7 162,184 174,348
NET CURRENT ASSETS 451,096 369,340
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

457,210

380,855

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

258,355

182,000

MEMBERS' OTHER INTERESTS
Capital accounts 619,800 619,800
Other reserves 9 (420,945 ) (420,945 )
457,210 380,855

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 258,355 182,000
Members' other interests 198,855 198,855
Amounts due from members 6 (33,328 ) -
423,882 380,855

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 February 2025 and were signed by:



C.G. McInnes - Designated member

QUARTET CAPITAL PARTNERS LLP (REGISTERED NUMBER: OC345770)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Quartet Capital Partners 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises revenue recognised by the LLP in respect of services supplied during the year, exclusive of value added tax.

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Fixtures and fittings-33.33% on cost

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

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.

Going concern
The partnership has a satisfactory capital position and as a consequence the members believe that the company is well placed to manage its business risks successfully. The members believe that the LLP has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the members have adopted the going concern basis in preparing the financial statements.

Members' profit share
A member's share in the profit or the loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within "other reserves".

QUARTET CAPITAL PARTNERS LLP (REGISTERED NUMBER: OC345770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

3. ACCOUNTING POLICIES - continued

Taxation
The taxation payable on profits is the personal liability of members during the year.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2023 - 10 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 4,734 57,149 61,883
DEPRECIATION
At 1 June 2023 1,775 48,593 50,368
Charge for year 592 4,809 5,401
At 31 May 2024 2,367 53,402 55,769
NET BOOK VALUE
At 31 May 2024 2,367 3,747 6,114
At 31 May 2023 2,959 8,556 11,515

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 167,808 186,037
Amounts due from members 33,328 -
Other debtors 23,483 9,254
Prepayments and accrued income 54,587 51,440
279,206 246,731

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,777 37,231
Social security and other taxes 38,686 34,464
Other creditors 30,812 25,724
Accruals and deferred income 62,909 76,929
162,184 174,348

QUARTET CAPITAL PARTNERS LLP (REGISTERED NUMBER: OC345770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with other creditors who are unsecured. There is no protection afforded to creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the members.

The restrictions or limitations existing on the ability of the members to reduce the amount of 'Members' other interests' are those of the regulatory capital requirements of the FCA.

9. RESERVES
Other
reserves
£   
At 1 June 2023 (420,945 )
At 31 May 2024 (420,945 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Geoffrey Cox BA FCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £396,083 (2023: £267,957).

12. POST BALANCE SHEET EVENTS

On 29 October 2024, Quartet Capital Partners LLP acquired 25% of Deft Holdings Limited for £1.35million funded by a capital injection by C.G. McInnes.

13. ULTIMATE CONTROLLING PARTY

The controlling party is C.G. McInnes.