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REGISTERED NUMBER: OC333962 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NCTM LLP

NCTM LLP (REGISTERED NUMBER: OC333962)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NCTM LLP

GENERAL INFORMATION
for the Year Ended 31 December 2024







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





REGISTERED OFFICE: 40 Bruton Street
London
W1J 6QZ





REGISTERED NUMBER: OC333962 (England and Wales)





ACCOUNTANTS: Vera Group Ltd
60 Grosvenor Street
London
W1K 3HZ

NCTM LLP (REGISTERED NUMBER: OC333962)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 191,686 227,494

CURRENT ASSETS
Debtors 5 1,257,848 1,312,224
Cash at bank and in hand 484,363 629,836
1,742,211 1,942,060
CREDITORS
Amounts falling due within one year 6 1,282,843 1,503,561
NET CURRENT ASSETS 459,368 438,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

651,054

665,993

CREDITORS
Amounts falling due after more than one
year

7

4,534

11,304
NET ASSETS ATTRIBUTABLE TO
MEMBERS

646,520

654,689

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

156

-

MEMBERS' OTHER INTERESTS
Other reserves 646,364 654,689
646,520 654,689

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 156 -
Members' other interests 646,364 654,689
Amounts due from members 5 (232,210 ) (311,207 )
414,310 343,482

NCTM LLP (REGISTERED NUMBER: OC333962)

BALANCE SHEET - continued
31 December 2024


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 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 16 July 2025 and were signed by:





M Gallanti - Designated member

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

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 2024

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 (2023 - 4 ) .

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 237,044 19,767 79,329 336,140
DEPRECIATION
At 1 January 2024 44,122 6,774 57,750 108,646
Charge for year 23,705 3,954 8,149 35,808
At 31 December 2024 67,827 10,728 65,899 144,454
NET BOOK VALUE
At 31 December 2024 169,217 9,039 13,430 191,686
At 31 December 2023 192,922 12,993 21,579 227,494

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,378 151,500
Amounts due from members 232,210 311,207
Other debtors 210,705 210,705
VAT 22,133 21,923
Prepayments and accrued income 632,833 482,050
Prepayments 136,589 134,839
1,257,848 1,312,224

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 6,710 6,710
Trade creditors 49,424 46,173
Social security and other taxes 6,376 7,088
Other creditors 964,491 978,370
Accrued expenses 255,842 465,220
1,282,843 1,503,561

NCTM LLP (REGISTERED NUMBER: OC333962)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,534 11,304

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'.