REGISTERED NUMBER: OC420092 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

FABRIC VENTURES LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Designated members:

Fabric Ventures Group Sarl

R M Muirhead

Registered office:

58 Wood Lane

London

W12 7RZ

Registered number:

OC420092 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

5,709

13,292

Current assets

Debtors

5

3,427,433

3,201,453

Cash at bank

59,565

105,736

3,486,998

3,307,189

Creditors

Amounts falling due within one year

6

156,590

213,025

Net current assets

3,330,408

3,094,164

Total assets less current liabilities

3,336,117

3,107,456

Creditors

Amounts falling due after more than one year

7

3,336,117

3,107,456

Net liabilities attributable to members

-

-

Loans and other debts due to members

-

-

Total members' interests

Amounts due from members

5

(4,629,977

)

(5,658,004

)

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 28 December 2025 and were signed by:

R M Muirhead - Designated member

1.	Statutory information

Fabric Ventures LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 and machinery

-

33% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The members have a reasonable expectation that the business has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. The members will continue to support the business financially until it is self-sufficient.

3.	Employee information

The average number of employees during the year was 3 (2024 - 7 ) .

4.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 April 2024

4,362

38,111

42,473

Additions

-

1,815

1,815

Disposals

(3,582

)

(21,050

)

(24,632

)

At 31 March 2025

780

18,876

19,656

Depreciation

At 1 April 2024

3,245

25,936

29,181

Charge for year

808

8,590

9,398

Eliminated on disposal

(3,582

)

(21,050

)

(24,632

)

At 31 March 2025

471

13,476

13,947

Net book value

At 31 March 2025

309

5,400

5,709

At 31 March 2024

1,117

12,175

13,292

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

13,695

810

Other debtors

3,413,738

3,200,643

3,427,433

3,201,453

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

5,763

7,152

Trade creditors

112,600

18,220

Taxation and social security

-

22,192

Other creditors

38,227

165,461

156,590

213,025

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

-

5,167

Other creditors

3,336,117

3,102,289

3,336,117

3,107,456