ACCOUNTS - Final Accounts

Registered number: OC442443

MRC ADVISORY LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

MRC ADVISORY LLP

REGISTERED NUMBER: OC442443

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Current assets
Debtors: amounts falling due within one year	4	97,805		11,880
Cash at bank and in hand	5	4,803		103,680
		102,608		115,560
Creditors: Amounts Falling Due Within One Year	6	(25,533)		(19,464)
Net assets			77,075		96,096

Represented by:
Loans and other debts due to members within one year
Other amounts	7		65,075		84,096
Members' other interests
Members' capital		12,000		12,000
			12,000		12,000
			77,075		96,096

Total members' interests
Loans and other debts due to members	7	65,075	84,096
Members' other interests		12,000	12,000
		77,075	96,096

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MRC ADVISORY LLP

REGISTERED NUMBER: OC442443

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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 Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 28 July 2026.

A N Croft

Designated member

The notes on pages 3 to 5 form part of these financial statements.

MRC Advisory LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

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MRC ADVISORY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

MRC Advisory LLP is a Limited Liability Partnership incorporated in England within the United Kingdom. The registered number is OC442443 and the address of the registered office is Price Bailey, 24 Old Bond Street, London, W1S 4AP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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MRC ADVISORY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2025 - 3).

Debtors

					2026	2025
					£	£

Trade debtors	96,905	11,880
Prepayments and accrued income	900	-

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MRC ADVISORY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.	Cash and cash equivalents
		2026	2025
		£	£

	Cash at bank and in hand	4,803	103,680

6.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	-	850
Other taxation and social security	17,064	12,616
Accruals and deferred income	8,469	5,998
	25,533	19,464

7.	Loans and other debts due to members

Other amounts due to members

65,075

84,096

Loans and other debts due to members may be further analysed as follows:

Falling due within one year

65,075

84,096

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

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