REGISTERED NUMBER: OC407204 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Cyber Security Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Asfalis Ltd

Risk and Business Consultants Ltd

No Fools Ltd

REGISTERED OFFICE:

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

OC407204 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

CURRENT ASSETS

Debtors

5

90,061

113,651

Cash at bank

-

32

90,061

113,683

CREDITORS

Amounts falling due within one year

6

22,094

21,330

NET CURRENT ASSETS

67,967

92,353

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

67,967

92,353

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

67,967

92,353

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

67,967

92,353

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.

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 5 December 2025 and were signed by:

Risk and Business Consultants Ltd - Designated member

Asfalis Ltd - Designated member

1.	STATUTORY INFORMATION

Cyber Security Partnership 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.

As explained in note 9 to the financial statements, the LLP ceased trading on 31 March 2025 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the LLP's assets down to net realisable value. No provision has been made for future costs of terminating the business, unless such costs were committed at the reporting date.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - straight line over 3 years

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed and profits).

Members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

The members' agreement sets out that total annual profits shall be allocated in the following order:

40% of the total profit to be retained in the Shared Re-investment Fund and is allocated as per the Member Share Points relating to the contribution of capital.

The remaining 60% to be allocated to the Company Bonus Fund (CBF) of which 66.7% (40% total profit) is allocated to the Owner Member Bonus Sales Fund and is allocated to the Owner Members based upon the sales attributed to each Owner Member. 33.3% of CBF (20% total profit) is allocated to the Owner Member Bonus Sales Lead Fund and is allocated to the Owner Members based upon the sales leads attributed to each Owner Member.

Losses will be split equally between Owner Members involved in decision making during the period.

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

2,847

DEPRECIATION

At 1 April 2024

and 31 March 2025

2,847

NET BOOK VALUE

At 31 March 2025

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

89,988

113,410

VAT

73

241

90,061

113,651

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

19,957

19,855

Trade creditors

1,777

966

Other creditors

-

64

Accruals and deferred income

360

445

22,094

21,330

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding-up of the LLP, members interests would rank last in the repayment of unsecured creditors.

8.	RELATED PARTY DISCLOSURES

Included within other debtors is a loan to a company which is controlled by the directors of the members of the LLP. At the balance sheet date the outstanding loan was £89,988 (2024: £113,410). This loan is unsecured and interest free.

9.	GOING CONCERN

The partnership ceased trading during the period. Therefore the accounts have been prepared under a basis other than going concern. There is no effect on the values held in the accounts as a result of this.