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Registered number: OC323835
FROSTROW CAPITAL LLP
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2026
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FROSTROW CAPITAL LLP
REGISTERED NUMBER:OC323835
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Loans and other debts due to members
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FROSTROW CAPITAL LLP
REGISTERED NUMBER:OC323835
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STATEMENT OF FINANCIAL POSITION (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 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 statement of comprehensive income 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 13 July 2026.
The notes on pages 4 to 9 form part of these financial statements.
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RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2026
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EQUITY
Members' other interests
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DEBT
Loans and other debts due to members less any amounts due from members in debtors
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Members' capital (classified as equity)
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Members' remuneration charged as an expense
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Profit for the year available for discretionary division among members
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Members' interests after profit for the year
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Drawings on account and distribution of profit
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Members' remuneration charged as an expense
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Profit for the year available for discretionary division among members
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Members' interests after profit for the year
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Amounts introduced by members
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Drawings on account and distribution of profit
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The notes on pages 4 to 9 form part of these financial statements.
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In the event of winding up, the amounts due to members rank after all other unsecured creditors.
There are restrictions on the ability of members to withdraw amounts related to their interests. Members can withdraw amounts standing to the credit of their distribution account within 30 days of the approval of annual audited accounts. Additionally, the board has the discretion to allow members to make drawings in advance of the end of the financial year, in anticipation of their profit entitlement for such financial year, subject to being satisfied with the anticipated level of profits for the financial year.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Frostrow Capital LLP is a limited liability partnership incorporated in England and Wales. The principal place of business and the registered office address is 25 Southampton Buildings, London, WC2A 1AL.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
3.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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Judgements and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The members do not consider that there are any significant judgments or key sources of estimation uncertainty requiring disclosure in these financial statements.
Turnover is stated net of VAT. Revenue comprises management, administration and company secretarial services and is recorded based on the agreed terms of individual contracts in the period in which it is earned. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Members’ capital is accounted for in accordance with section 11 of FRS 102, Financial Instruments: Disclosure and Presentation. Where the LLP has a contractual obligation to deliver cash or another financial asset to the member, the capital is treated as debt. Where the LLP has an unconditional right to avoid delivering cash or other financial assets to a member in respect of such amounts, (i.e. repayment of the member’s capital is discretionary), it is treated as equity. In accordance with the Limited Liability Partnership Deed, members' capital is classed as equity.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
3.Accounting policies (continued)
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Loans and debts due to members less any amounts due from members in debtors
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Amounts due to members in respect of profit allocations, members remuneration charged as an expense, drawings and other member current account balances are included within loans and other debts due to members where they are payable by the LLP and are not classified as equity.
Drawings paid on account to members are deducted from amounts due to members and the resulting net balance is presented within loans and other debts due to members.
Non-discretionary amounts becoming due to members in respect of participation rights in the profits of the LLP for an accounting period that give rise to liabilities are presented as an expense within the Statement of comprehensive income (within the heading 'Members’ remuneration charged as an expense').
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
The LLP does not operate its own pension scheme, but it does make pension contributions to individual staff pension schemes which have been set up by staff members themselves, or with the assistance of the LLP.
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
3.Accounting policies (continued)
Cash at bank includes cash in hand, deposits held at call with banks and other short term highly liquid investments with original maturities of three months or less. Deposits held at call with banks with original maturities of greater than three months, are classified separately as a term deposit account.
The taxation payable on the partnership profits is the personal liability of the members during the period and consequently neither taxation nor related deferred taxation are accounted for in the financial statements.
The members have reviewed the cash position of the partnership along with its expected income and expenses. Having considered the forecast, and appropriate sensitivities, the member's consider the partnership to have sufficient resources to continue in operation for at least 12 months from the date of signing of these financial statements. As a result, the financial statements are prepared on a going concern basis.
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Transfer of members' interests
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During the year £60,000 (2025: £nil) was transferred from loans and other debts due to members to members' capital interests.
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The average monthly number of persons (including members with contracts of employment) employed during the year was 20 (2025: 20).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Charge for the year on owned assets
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The amount recognised in profit or loss as an expense in relation to defined contribution plans was £202,311 (2025: £180,785).
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Commitments under operating leases
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At 31 March 2026 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Related party transactions
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In the opinion of the members there is no controlling party as defined by FRS 102 section 33.
Key management personnel are the members of the LLP.
There are no material related party transactions which have not been conducted under normal market conditions.
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The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.
The audit report was signed on 13 July 2026 by James Astley (Senior Statutory Auditor) on behalf of UHY Hacker Young.
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