Forbes Hare LLP - Filleted accounts

Registered number

OC380080

Forbes Hare LLP

Accounts

30 December 2024

Forbes Hare LLP
Registered number:		OC380080
Balance Sheet
as at 30 December 2024
Notes		2024		2023
£			£
Fixed assets
Tangible assets	3	3,835		5,988
Current assets
Debtors	4	63,128		80,634
Cash at bank and in hand		73,730		440,806
		136,858		521,440

Creditors: amounts falling due within one year	5	(164,146)		(294,023)

Net current (liabilities)/assets		(27,288)		227,417

Total assets less current liabilities		(23,453)		233,405

Creditors: amounts falling due after more than one year	6	(1,017,137)		(902,772)


Net liabilities attributable to members		(1,040,590)		(669,367)

Represented by:

Members' other interests
Other reserves		(1,040,590)		(669,367)

		(1,040,590)		(669,367)

Total members' interests
Members' other interests		(1,040,590)		(669,367)

		(1,040,590)		(669,367)

For the year ended 30 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 29 September 2025 and signed on their behalf by:


Mr Jose Santos Torres as director of FH UK Holdings Ltd
Designated member

Forbes Hare LLP
Notes to the Accounts
for the year ended 30 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 rendering of services. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office Equipment	20% straight line
	Leashold Improvements	20% straight line

	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.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the LLP			11		21


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 31 December 2023	8,348		50,287		58,635
	Additions	-		1,250		1,250
	At 30 December 2024	8,348		51,537		59,885

	Depreciation
	At 31 December 2023	8,348		44,299		52,647
	Charge for the year	-		3,403		3,403
	At 30 December 2024	8,348		47,702		56,050

	Net book value
	At 30 December 2024	-		3,835		3,835
	At 30 December 2023	-		5,988		5,988


4	Debtors			2024		2023
£					£

	Trade debtors			47,299		64,805
	Other debtors (incl Rent deposit)			15,829		15,829
				63,128		80,634


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			33,526		48,043
	Other taxes and social security costs			37,416		48,078
	Client Funds Held			93,204		197,902
				164,146		294,023


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Amounts owed to related entities			865,033		750,668
	Other creditors			152,104		152,104
				1,017,137		902,772

	The other creditors is from Antilles Sport and Media (UK) Limited, a related company and
	is interest free with no fixed terms of repayment.

7	Controlling party

	The partners own the partnership in equal proportions.

8	Other information

	Forbes Hare LLP is a limited liability partnership incorporated in England. Its registered office is:
	5 King's Bench Walk
	Temple
	London
	EC4Y 7DN