Console Zero LLP
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2025
Pages for Filing with Registrar
Limited Liability Partnership Registration No. OC438120 (England and Wales)
Console Zero LLP
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Console Zero LLP
Balance Sheet
As at 31 December 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
3
539,083
508,272
Current assets
Cash and cash equivalents
270
9,231
Creditors: amounts falling due within one year
4
(4,980)
(4,560)
Net current (liabilities)/assets
(4,710)
4,671
Total assets less current liabilities and net assets attributable to members
534,373
512,943
Represented by:
Loans and other debts due to members within one year
Other amounts
552,225
514,090
Members' other interests
Members' capital classified as equity
6,000
6,000
Other reserves classified as equity
(23,852)
(7,147)
534,373
512,943
Total members' interests
Loans and other debts due to members
552,225
514,090
Members' other interests
(17,852)
(1,147)
534,373
512,943

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 December 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) relating to small limited liability partnerships.

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 and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

Console Zero LLP
Balance Sheet (Continued)
As at 31 December 2025
Page 2
The financial statements were approved by the members and authorised for issue on 16 March 2026 and are signed on their behalf by:
16 March 2026
D J Mytton
Designated member
Limited Liability Partnership Registration No. OC438120
Console Zero LLP
Notes to the Financial Statements
For the year ended 31 December 2025
Page 3
1
Accounting policies
Limited liability partnership information

Console Zero LLP is a limited liability partnership incorporated in England and Wales. The registered office is 60 Grays Inn Road, Gi 404, London, WC1X 7RJ.

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 sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis, which assumes that the LLP will continue in operational existence for the foreseeable future. At the balance sheet date, the LLP had net assets of £5 34,373 (2024: £5 12,943) which is largely as a result of loans due to members in the sum of £552,225 (2024: £514,090). The LLP has made accumulated losses as at the balance sheet date of £23,852 (2024: £7,147). The LLP is reliant on the continuing support of its members to fund its operations. The LLP's main activity is that of an investment business, and it is anticipated that dividends and gains on sales of investments will be received in the future.

The members have considered the financial position of the LLP and its investments, along with the funding commitments of the members. The members have confirmed that they will continue to provide financial support for the foreseeable future to enable the LLP to meet its liabilities as they fall due. Additionally, the members have reviewed the LLP's cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements, which demonstrate that the LLP is able to meet its liabilities as they fall due with the ongoing support of the members.

Based on this assessment, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Therefore, the members continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.3
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.

Console Zero LLP
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 4

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

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.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and a ny impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Cash and cash equivalents

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 company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments at fair value.

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.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Console Zero LLP
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 5
2
Employees

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

2025
2024
Number
Number
Total
0
0
3
Fixed asset investments
2025
2024
£
£
Other investments other than loans
539,083
508,272
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2025
508,272
Additions
51,414
Disposals
(20,603)
At 31 December 2025
539,083
Carrying amount
At 31 December 2025
539,083
At 31 December 2024
508,272
4
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
4,980
4,560
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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