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Registration number: OC417050

Floyd Zadkovich LLP
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Floyd Zadkovich LLP

Limited liability partnership information

Designated members | E Floyd L Zadkovich D Thompson

Members | C Cheyne T McGovern

Registered office | Caroline House 55 High Holborn 3rd Floor London WC1V 6DX

Floyd Zadkovich LLP

(Registration number: OC417050)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 3 | 35,042 | 46,691
Current assets |  |  |
Debtors | 4 | 2,117,473 | 1,361,637
Cash and short-term deposits |  | 1,315,701 | 1,277,008
|  | 3,433,174 | 2,638,645
Creditors: Amounts falling due within one year | 5 | (1,018,811) | (753,175)
Net current assets |  | 2,414,363 | 1,885,470
Net assets attributable to members |  | 2,449,405 | 1,932,161
Represented by: |  |  |
Loans and other debts due to members |  |  |
Members' capital classified as a liability |  | 2,449,405 | 1,932,161
|  | 2,449,405 | 1,932,161
Total members' interests |  |  |
Loans and other debts due to members |  | 2,449,405 | 1,932,161
|  | 2,449,405 | 1,932,161

For the year ending 31 December 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

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. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Floyd Zadkovich LLP (registered number OC417050) were approved by the Board and authorised for issue on 6 May 2026. They were signed on behalf of the limited liability partnership by:

......................................... D Thompson Designated member |  |

Floyd Zadkovich LLP

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Floyd Zadkovich LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Judgements

In the application of the LLP's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation uncertainty

Amounts recoverable on contracts - The process of assessing amounts recoverable on contracts requires various estimates and judgements to be made. Fee earners are required to record time spent on client assignments and this is used as the basis for the amounts recoverable on contracts estimate. A year end report of time on all assignments is circulated to fee earners to identify likely recoverable amounts. The carrying amount is £184,132 (2024 - £105,023).

Bad debt provision - due to the nature of the business, there are high levels of trade debtors at the year end, and therefore a risk that some of these balances may be irrecoverable. A bad debt review is carried out, where debts are assessed and provided against when the recoverability of these balances is considered to be uncertain. The carrying amount is £182,946 (2024 - £108,707).

Floyd Zadkovich LLP

Notes to the Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Fee income represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent, skills provided and expenses incurred, and excludes VAT. Income is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.
Income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.
Unbilled income on individual client assignments is included as amounts recoverable on contracts within debtors.

Disbursements

Disbursements are not included in income or expenses but are netted against each other.

Members' remuneration and division of profits

The profits of the LLP are automatically divided among the members in accordance with the agreed profit share arrangements.
A member's share of the profit or loss for the year is accounted for as an allocation of profits.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class | Depreciation method and rate
Computer equipment | 3 years straight line
Fixtures and fittings | 5 years straight line
Office equipment | 2 years straight line

Floyd Zadkovich LLP

Notes to the Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from clients for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at the capital repayable amount, net of transaction costs.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the LLP has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Profit and Loss on a straight line basis over the lease term.

Pensions and other post retirement obligations

The LLP operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Floyd Zadkovich LLP

Notes to the Financial Statements for the Year Ended 31 December 2025

Recognition and Measurement

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 27 (2024 - 21).

Floyd Zadkovich LLP

Notes to the Financial Statements for the Year Ended 31 December 2025

3 | Tangible fixed assets

| Computer equipment £ | Fixtures and fittings £ | Office equipment £ | Total £
Cost |  |  |  |
At 1 January 2025 | 79,543 | 24,246 | 16,327 | 120,116
Additions | 20,308 | - | 6,206 | 26,514
At 31 December 2025 | 99,851 | 24,246 | 22,533 | 146,630
Depreciation |  |  |  |
At 1 January 2025 | 48,976 | 11,018 | 13,431 | 73,425
Charge for the year | 26,092 | 4,849 | 7,222 | 38,163
At 31 December 2025 | 75,068 | 15,867 | 20,653 | 111,588
Net book value |  |  |  |
At 31 December 2025 | 24,783 | 8,379 | 1,880 | 35,042
At 31 December 2024 | 30,567 | 13,228 | 2,896 | 46,691

4 | Debtors

| 2025 £ | 2024 £
Trade debtors | 1,485,755 | 579,102
Amounts recoverable on contracts | 184,132 | 105,023
Other debtors | 119,074 | 370,707
Prepayments | 328,512 | 306,805
| 2,117,473 | 1,361,637

5 | Creditors: Amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 541,444 | 30,498
Other creditors | 248,169 | 237,909
Accruals | 136,927 | 407,181
Taxation and social security | 92,271 | 77,587
| 1,018,811 | 753,175

6 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £315,698 (2024 - £362,882).