IPSO FACTA LLP - Filleted accounts

Registered number

OC415251

IPSO FACTA LLP

Filleted Accounts

31 December 2024

IPSO FACTA LLP
Registered number:		OC415251
Balance Sheet
as at 31 December 2024
Notes		2024		2023
€			€
Current assets
Debtors	3	118,625		118,670
Cash at bank and in hand		2,027		36,469
		120,652		155,139

Creditors: amounts falling due within one year	4	(78,262)		(75,803)

Net current assets		42,390		79,336

Total assets less current liabilities		42,390		79,336

Net assets attributable to members		42,390		79,336

Represented by:
Loans and other debts due to members	5	52,407		52,407

Members' other interests
Other reserves		(10,017)		26,929

		42,390		79,336

Total members' interests
Loans and other debts due to members	5	52,407		52,407
Members' other interests		(10,017)		26,929

		42,390		79,336

For the year ended 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 9 September 2025 and signed on their behalf by:


Signed by Igor Mitrofanov on behalf of Noli Nocere Corporation
Designated member

IPSO FACTA LLP
Reconciliation of Members' Interests
for the year ended 31 December 2024
€
	EQUITY				DEBT			TOTAL
	Members' other interests				Loans and other debts due to members
					less any amounts due from members
					in debtors
	Members' capital (classified as equity)	Revaluation reserve	Other reserves	Total	Members' capital (classified as debt)	Other amounts	Total	Total members' interests

Balance at 1 January 2024	-	-	26,929	26,929	52,407	-	52,407	79,336
Profit for the financial year available for discretionary division among members			(36,946)	(36,946)				(36,946)

Members' interests after profit for the year	-	-	(10,017)	(10,017)	52,407	-	52,407	42,390


Balance at 31 December 2024	-	-	(10,017)	(10,017)	52,407	-	52,407	42,390

IPSO FACTA LLP
Notes to the Accounts
for the year ended 31 December 2024

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of 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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the LLP	-		-


3	Debtors	2024		2023
€			€

	Third party loans	118,625		118,625
	Prepayments and accrued income	-		45
		118,625		118,670


4	Creditors: amounts falling due within one year	2024		2023
€			€

	Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	41,281		38,821
	Other loans	36,981		36,982
		78,262		75,803


5	Loans and other debts due to members	2024		2023
€			€

	Members capital classified as debt	52,407		52,407

	Amounts falling due within one year	52,407		52,407

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


6	Other information

	IPSO FACTA LLP is a limited liability partnership incorporated in England. Its registered office is at:
	12 Mulberry Place, Pinnell Road, London, SE9 6AR