QP Innovators LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—5

Registered number: OC441000

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		144		288

			144		288
CURRENT ASSETS
Stocks	5	94,472		74,221
Debtors	6	2,102		1,546
Cash at bank and in hand		20,462		34,719

		117,036		110,486
Creditors: Amounts Falling Due Within One Year	7	(4,286 )		(3,442 )

NET CURRENT ASSETS (LIABILITIES)			112,750		107,044

TOTAL ASSETS LESS CURRENT LIABILITIES			112,894		107,332

NET ASSETS ATTRIBUTABLE TO MEMBERS			112,894		107,332

REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability		81,000		81,000
Other amounts		31,894		26,332

			112,894		107,332

			112,894		107,332

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			112,894		107,332

			112,894		107,332

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QP Innovators LLP

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the LLP 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Andrew Wealls

Designated Member

01/06/2026

The notes on pages 4 to 5 form part of these financial statements.

	EQUITY	DEBT
	Members' other interests	Loans and other debts due to members less any amounts due from members in debtors
	Other Reserves	Members'Capital classified as Debt	Other amounts	Total Debts	Total members' interest
	£	£	£	£	£
Amounts due to members	-	81,000	17,719	98,719	-

Balance at 1 April 2024	-	81,000	17,719	98,719	98,719
Members' remuneration charged as an expense, including employment and retirement benefit costs	-	-	8,613	8,613	8,613
Profit/(loss) for the financial year available for discretionary division among members	-	-	-	-	-

Members' interests after profit/(loss) for the year	-	81,000	26,332	107,332	107,332

Amounts due to members	-	81,000	26,332	107,332	-

As at 31 March 2025 and 1 April 2025	-	81,000	26,332	107,332	107,332


Members' remuneration charged as an expense, including employment and retirement benefit costs	-	-	5,562	5,562	5,562
Profit/(loss) for the financial year available for discretionary division among members	-	-	-	-	-

Members' interests after profit/(loss) for the year	-	81,000	31,894	112,894	112,894

Amounts due to members	-	81,000	31,894	112,894	-

As at 31 March 2026	-	81,000	31,894	112,894	112,894

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QP Innovators LLP

Notes to the Financial Statements

For The Year Ended 31 March 2026

1. General Information

QP Innovators LLP is a limited liability partnership, incorporated in England & Wales, registered number OC441000 . The Registered Office is 118 The Avenue, London, NW6 7NN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Going Concern Disclosure

The members have not identified any material uncertainties related to events or conditions that may cast significant doubt about the LLP's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Division of profits

Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

2.7. Members' capital

Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2025: NIL)

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QP Innovators LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2025	575

As at 31 March 2026	575

Depreciation
As at 1 April 2025	287
Provided during the period	144

As at 31 March 2026	431

Net Book Value
As at 31 March 2026	144

As at 1 April 2025	288

5. Stocks

	2026	2025
	£	£
Stock	94,472	74,221

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,918	1,363
Prepayments and accrued income	184	183

	2,102	1,546

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other taxes and social security	3,461	2,647
Accruals and deferred income	825	795

	4,286	3,442

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

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