ACCOUNTS - Final Accounts

Loans and other debts due to members

Registered number: OC337769

F & C CONSULTING LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


F & C CONSULTING LLP REGISTERED NUMBER:OC337769

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		443		590
			443		590
Current assets
Debtors: amounts falling due within one year	5	112,561		60,633
Cash at bank	6	30,275		25,230
		142,836		85,863
Creditors: amounts falling due within one year	7	(2,779)		(5,376)
Net current assets			140,057		80,487
Total assets less current liabilities			140,500		81,077

Net assets			140,500		81,077

Represented by:
Loans and other debts due to members within one year
Other amounts	8	140,500	81,077
		140,500	81,077

		140,500	81,077

Total members' interests
Loans and other debts due to members	8	140,500	81,077
		140,500	81,077

Page 1


F & C CONSULTING LLP REGISTERED NUMBER:OC337769

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

F G Mc Gough

Designated member

Date: 29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

F & C Consulting LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2


F & C CONSULTING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

F & C Consulting LLP is a limited liability partnership registered in England and Wales, registration number OC337769. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London W1W 8BE.

The principal activity of the LLP is that of providing management consultancy.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in profit and loss account.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnoved from consultancy services is recognised when it is probable the company will receive the rights to the consideration due under the contract.
Recharge income is recognised when the costs have been incurred.

Page 3


F & C CONSULTING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Creditors

Short term creditors are measured at the transaction price.

2.9

Financial instruments

The LLP enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade debtors, other creditors and loans with related parties.

Page 4


F & C CONSULTING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including members, during the year was 2 (2023 - 2).

4.	Tangible fixed assets

		Office equipment
		£
	Cost
	At 1 January 2024	898
	At 31 December 2024	898
	Depreciation
	At 1 January 2024	308
	Charge for the year	147
	At 31 December 2024	455
	Net book value
	At 31 December 2024	443
	At 31 December 2023	590

Debtors

					2024	2023
					£	£


Trade debtors	112,561	60,633

6.	Cash
		2024	2023
		£	£

	Cash at bank	30,275	25,230

7.	Creditors: amounts falling due within one year
		2024	2023
		£	£

	Accruals	2,779	5,376

Page 5


F & C CONSULTING LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


	Other amounts due to members	140,500	81,077

Loans and other debts due to members may be further analysed as follows:

					2024	2023
					£	£


	Falling due within one year	140,500	81,077

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

Page 6