IPJ London LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC390118

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,526		12,704

			12,526		12,704
CURRENT ASSETS
Debtors	5	880,693		2,105,492
Cash at bank and in hand		99,911		159,625

		980,604		2,265,117
Creditors: Amounts Falling Due Within One Year	6	(838,190 )		(2,169,488 )

NET CURRENT ASSETS (LIABILITIES)			142,414		95,629

TOTAL ASSETS LESS CURRENT LIABILITIES			154,940		108,333

Creditors: Amounts Falling Due After More Than One Year	7		(8,333 )		(108,333 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			146,607		-

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		146,607		-

			146,607		-

			146,607		-

TOTAL MEMBERS' INTEREST
Amounts due from members			(16,233)		(272,579)
Loans and other debts due to members within one year			146,607		-

			130,374		(272,579)

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IPJ London LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Richie Fallows

Designated Member

3rd December 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

IPJ London LLP is a limited liability partnership, incorporated in England & Wales, registered number OC390118 . The Registered Office is Third Floor 2 Sycamore Street, Islington, London, EC1Y 0SF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% on reducing balance
Computer Equipment	25% on reducing balance

2.4. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 9 (2024: 8)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	23,271	31,366	54,637
Additions	-	3,997	3,997

As at 31 March 2025	23,271	35,363	58,634

Depreciation
As at 1 April 2024	17,499	24,434	41,933
Provided during the period	1,443	2,732	4,175

As at 31 March 2025	18,942	27,166	46,108

...CONTINUED

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IPJ London LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	4,329	8,197	12,526

As at 1 April 2024	5,772	6,932	12,704

5. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Trade debtors	806,052	1,703,130
Other debtors	58,408	20,538
VAT	-	109,245
Amounts due from members	16,233	272,579

	880,693	2,105,492

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	633,107	2,024,989
Bank loans and overdrafts	100,000	100,000
Other taxes and social security	7,913	8,684
VAT	50,858	-
Other creditors	43,557	33,190
Accruals and deferred income	2,755	2,625

	838,190	2,169,488

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 March 2024
	£	£
Bank loans	8,333	108,333

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