Limited Liability Partnership registration number OC342384 (England and Wales)
Rusom Trading LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
RUSOM TRADING LLP
CONTENTS
Page
Members' report
2
Profit and loss account
3
Balance sheet
4
Reconciliation of members' interests
5 - 6
Notes to the financial statements
7 - 10
RUSOM TRADING LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RUSOM TRADING LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

The members present their annual report and financial statements for the year ended 31 January 2025.

Principal activities

The principal activity of the limited liability partnership continued to be that of trading milling wheat, iron and steel products, hot rolled coils, cold rolled coils and flat steels to E urope, Turkey and CIS countries.

Members' drawings, contributions and repayments

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the l imited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

Omsa International Ltd
Rusek International Ltd

This report has been prepared in accordance with the special provisions relating to small LLP s within Part 15 of the Companies Act 2006.

Approved by the members on 13 February 2026 and signed on behalf by:
13 February 2026
Omsa International Ltd
Rusek International Ltd
Designated Member
Designated Member
By Denman Management Ltd - Director
By Denman Management Ltd - Director
Authorised signatory
Authorised signatory
RUSOM TRADING LLP
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
2025
2024
$
$
Turnover
13,999,772
23,459,654
Cost of sales
(13,654,474)
(22,496,505)
Gross profit
345,298
963,149
Administrative expenses
(132,824)
(7,375)
Profit for the financial year before members' remuneration and profit shares
212,474
955,774
Profit for the financial year before members' remuneration and profit shares
212,474
955,774
Members' remuneration charged as an expense
-
-
Profit for the financial year available for discretionary division among members
212,474
955,774
RUSOM TRADING LLP
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 4 -
2025
2024
Notes
$
$
$
$
Current assets
Debtors
3
117,639
6,547,024
Cash at bank and in hand
5,184,340
1,573,376
5,301,979
8,120,400
Creditors: amounts falling due within one year
4
(21,148)
(3,052,013)
Net current assets and net assets attributable to members
5,280,831
5,068,387
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
5,279,588
5,067,114
Members' other interests
Members' capital classified as equity
1,243
1,273
5,280,831
5,068,387

For the financial year ended 31 January 2025 the limited liability partnership 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 Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 13 February 2026 and are signed on their behalf by:
13 February 2026
Omsa International Ltd
Rusek International Ltd
Designated member
Designated Member
Limited Liability Partnership registration number OC342384 (England and Wales)
RUSOM TRADING LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2025
$
$
$
$
$
$
Amounts due to members
5,067,114
Members' interests at 1 February 2024
1,273
-
1,273
5,067,114
5,067,114
5,068,387
Profit for the financial year available for discretionary division among members
-
212,474
212,474
-
-
212,474
Members' interests after profit for the year
1,273
212,474
213,747
5,067,114
5,067,114
5,280,861
Allocation of profit for the financial year
-
(212,474)
(212,474)
212,474
212,474
-
Other movements
(30)
-
(30)
-
-
(30)
Members' interests at 31 January 2025
1,243
-
1,243
5,279,588
5,279,588
5,280,831
RUSOM TRADING LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2024
$
$
$
$
$
$
Amounts due to members
4,111,340
Members' interests at 1 February 2023
1,233
-
1,233
4,111,340
4,111,340
4,112,573
Profit for the financial year available for discretionary division among members
-
955,774
955,774
-
-
955,774
Members' interests after profit for the year
1,233
955,774
957,007
4,111,340
4,111,340
5,068,347
Allocation of profit for the financial year
-
(955,774)
(955,774)
955,774
955,774
-
Other movements
40
-
40
-
-
40
Members' interests at 31 January 2024
1,273
-
1,273
5,067,114
5,067,114
5,068,387
RUSOM TRADING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
1
Accounting policies
Limited liability partnership information

Rusom Trading LLP is a limited liability partnership incorporated in England and Wales. The registered office is 19 Leyden Street, London, E1 7LE.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in US Dollars, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest $1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and not less than one year from the date of approval. The company has minimal external borrowings and working capital requirements remain modest, as such the pandemic is not expected to give rise to a material uncertainty in regard to going concern.

1.3
Turnover

Revenue from the sale of goods is recorded net of VAT and trade discounts and is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.4
Members' participating interests

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

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

RUSOM TRADING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 8 -
1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

RUSOM TRADING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 9 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

1.8
Exchange rates

Balances denominated in foreign currencies as at 31 January 2025 have been translated at the following rate:

1 British Pound = 1.2426 US Dollars (2024 - 1 British Pound = 1.2733 US Dollars).

1.9
Taxation
The taxation payable on profits is the sole liability of the members during the period. Consequently, these financial statements do not include any calculation of taxes payable by the members.
None of the LLP's activities during the period under review take place in the United Kingdom. The LLP is owned and controlled by parties outside of the United Kingdom, therefore no UK tax liability arises on the profits generated.
RUSOM TRADING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
0
0
3
Debtors
2025
2024
Amounts falling due within one year:
$
$
Trade debtors
116,396
705,751
Other debtors
1,243
5,841,273
117,639
6,547,024
4
Creditors: amounts falling due within one year
2025
2024
$
$
Trade creditors
13,148
3,045,613
Other creditors
8,000
6,400
21,148
3,052,013
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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