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REGISTERED NUMBER: OC395518 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

L.E.F.F. GLOBAL LLP

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L.E.F.F. GLOBAL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DESIGNATED MEMBERS: L F Folco
L.E.F.F. UK Limited





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: OC395518 (England and Wales)





ACCOUNTANTS: B&P Tax Legal Finance LLP
38 Craven Street
London
WC2N 5NG

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £   
CURRENT ASSETS
Stocks 1,322,387 1,322,387
Debtors 5 2,311,585 2,095,044
Cash at bank 9,508 12,632
3,643,480 3,430,063
CREDITORS
Amounts falling due within one year 6 (2,783,772 ) (2,860,704 )
NET CURRENT ASSETS 859,708 569,359
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

859,708

569,359

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

859,608

569,259

MEMBERS' OTHER INTERESTS
Capital accounts 100 100
859,708 569,359

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 859,608 569,259
Members' other interests 100 100
Amounts due from members 5 (2,258,117 ) (2,053,738 )
(1,398,409 ) (1,484,379 )

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 2025.

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.

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

BALANCE SHEET - continued
31 MARCH 2025


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 24 July 2025 and were signed by:





L F Folco - Designated member

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

L.E.F.F. Global 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.

Services:
Revenues from rendering of services are recognized when it is probable that an economic benefit associated with the transaction will flow to the entity and the amount of revenue can be measured reliably.

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

Plant & machinery - depreciated at 33.33% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Consignment stock

The LLP also holds stocks of artworks on consignment from L.E.F.F. IOM Ltd. These remain the property of
L.E.F.F. IOM Ltd until sold or at the expiry of the consignment agreement. No amounts for the stock or the
liability to the company are entered in the financial statements until the stocks are acquired by the LLP.

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables and amounts owed by group undertakings..

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024
and 31 March 2025 21,926
DEPRECIATION
At 1 April 2024
and 31 March 2025 21,926
NET BOOK VALUE
At 31 March 2025 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 2,311,585 2,095,044

L.E.F.F. GLOBAL LLP (REGISTERED NUMBER: OC395518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 3,173 4,205
Other creditors 2,780,599 2,856,499
2,783,772 2,860,704

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2025 2024
£    £   
Loans from members 859,608 569,259

Falling due within one year 859,608 569,259

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.

8. RELATED PARTY DISCLOSURES

During the period, the company received services from L.E.F.F UK Limited for the amount of £190,229 (2024: £265,633). The balance due from L.E.F.F UK Limited at the end of the period was £184,141 (2024: £215,446). L.E.F.F UK Limited is a member of L.E.F.F Global LLP.

At the end of the period, an amount of £1,214,368 (2024: £1,269,033) was due from L.F. Folco.

At the end of the period, an amount of £2,588,366 (2024: £2,588,366) was due to Leff IOM Ltd a company under common control. The balance is payable on demand and bears no interest.