Fylgja LLP LLP accounts

REGISTERED NUMBER: OC451900

Fylgja LLP

Unaudited Financial Statements

30 April 2026

Fylgja LLP

Financial Statements

Year ended 30 April 2026

Contents	Page

Members' report	1

Statement of income and retained earnings	3

Statement of financial position	4

Reconciliation of members' interests	6

Statement of cash flows	8

Notes to the financial statements	9

Fylgja LLP

Members' Report

Year ended 30 April 2026

The members present their report and the unaudited financial statements of the LLP for the year ended 30 April 2026 .

Principal activities

The principal activity of the company during the year was software licensing.

Designated members

The designated members who served the LLP during the year were as follows:

Mr Danard
Mr Riesterer
Mr Vennin

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 7 September 2026 and signed on behalf of the members by:

Mr Danard	Mr Riesterer
Designated Member	Designated Member

Mr Vennin
Designated Member

Registered office:

23 Dorset Road

London

SW8 1EF

Fylgja LLP

Statement of Income and Retained Earnings

Year ended 30 April 2026

		2026	2025
Note		£	£
Turnover	4	500,857	240,000

	---------	---------
Gross profit	500,857	240,000

Administrative expenses	277,820	253,171
	---------	---------
Operating profit/(loss)	223,037	( 13,171)

	---------	---------
Profit/(loss) for the financial year before members' remuneration and profit shares available for discretionary division among members	223,037	(13,171)
	---------	---------

All the activities of the LLP are from continuing operations.

Fylgja LLP

Statement of Financial Position

30 April 2026

	2026	2025
Note	£	£

Current assets

Debtors	6	260,924	34,166
Cash at bank and in hand		13,835	30,727
		---------	--------
		274,759	64,893

Creditors: amounts falling due within one year	7	2,988	2,988
		---------	--------
Net current assets		271,771	61,905
		---------	--------
Total assets less current liabilities		271,771	61,905

Creditors: amounts falling due after more than one year	8	61,905	61,905
		---------	--------
Net assets		209,866	–
		---------	--------

Represented by:

Loans and other debts due to members

Other amounts	9	209,866	–
		---------	----

Members' other interests

Other reserves, including the fair value reserve	–	–
	---------	----
	209,866	–
	---------	----

Total members' interests

Amounts due from members		–	(13,171)
Loans and other debts due to members	9	209,866	–
Members' other interests		–	–
		---------	--------
		209,866	(13,171)
		---------	--------

For the year ending 30 April 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) relating to small LLPs.

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 financial statements .

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

Fylgja LLP

Statement of Financial Position (continued)

30 April 2026

These financial statements were approved by the members and authorised for issue on 7 September 2026 , and are signed on their behalf by:

Mr Danard

Designated Member

Registered number: OC451900

Fylgja LLP

Reconciliation of Members' Interests

Year ended 30 April 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves, including the fair value reserve	Total	Other amounts	Total	Total 2026
	£	£	£	£	£
Balance at 1 May 2025	–	–	(13,171)	(13,171)	(13,171)
Profit for the financial year available for discretionary division among members	223,037	223,037			223,037
	---------	---------	--------	--------	---------
Members' interests after profit for the year	223,037	223,037	(13,171)	(13,171)	209,866
Other division of profits	(223,037)	(223,037)	223,037	223,037	–
	---------	---------	---------	---------	---------
Balance at 30 April 2026	–	–	209,866	209,866	209,866
	---------	---------	---------	---------	---------

Fylgja LLP

Reconciliation of Members' Interests (continued)

Year ended 30 April 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves, including the fair value reserve	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 May 2024	–	–	–	–	–
Loss for the financial year available for discretionary division among members	(13,171)	(13,171)			(13,171)
	--------	--------	----	----	--------
Members' interests after loss for the year	(13,171)	(13,171)	–	–	(13,171)
Other division of profits	13,171	13,171	(13,171)	(13,171)	–
	--------	--------	--------	--------	--------
Balance at 30 April 2025	–	–	(13,171)	(13,171)	(13,171)
	--------	--------	--------	--------	--------

Fylgja LLP

Statement of Cash Flows

Year ended 30 April 2026

	2026	2025
	£	£

Cash flows from operating activities

Profit/(loss) for the financial year	223,037	(13,171)

Adjustments for:
Accrued expenses	–	2,988

Changes in:
Trade and other debtors	( 239,929)	( 20,995)
Trade and other creditors	–	31,905
	---------	--------
Cash generated from operations	( 16,892)	727
	--------	----
Net cash (used in)/from operating activities	( 16,892)	727
	--------	----

Cash flows from financing activities

Proceeds from loans from participating interests	–	30,000
	--------	--------
Net cash from financing activities	–	30,000
	--------	--------

Net (decrease)/increase in cash and cash equivalents	( 16,892)	30,727
Cash and cash equivalents at beginning of year	30,727	–
	--------	--------
Cash and cash equivalents at end of year	13,835	30,727
	--------	--------

Fylgja LLP

Notes to the Financial Statements

Year ended 30 April 2026

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 23 Dorset Road, London, SW8 1EF.

2.	Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Judgements and key sources of estimation uncertainty

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' 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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of income and retained earnings within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

4.	Turnover

Turnover arises from:

	2026	2025
	£	£
Sale of goods	–	240,000
	----	---------

The whole of the turnover is derived from the United Kingdom. An analysis of turnover by business operation is given below:

	2026	2025
	£	£
Business class 1	–	240,000
	----	---------

5.	Information in relation to members

6.	Debtors

	2026	2025
	£	£
Trade debtors	260,000	20,000
Amounts due from members	–	13,171
Other debtors	924	995
	---------	--------
	260,924	34,166
	---------	--------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Accruals and deferred income	2,988	2,988
	-------	-------

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Amounts owed to undertakings in which the LLP has a participating interest	30,000	30,000
Other creditors	31,905	31,905
	--------	--------
	61,905	61,905
	--------	--------

9.	Loans and other debts due to members

	2026	2025
	£	£
Amounts owed to members in respect of profits	209,866	–
	---------	----

10.	Analysis of changes in net debt

	At 1 May 2025	Cash flows	At 30 Apr 2026
	£	£	£
Cash at bank and in hand	30,727	(16,892)	13,835
Debt due after one year	(30,000)	–	(30,000)
	--------	--------	--------
Net debt (before members' debt)	727	(16,892)	(16,165)
	--------	--------	--------
Loans and other debts due to members
Other amounts	–	(209,866)	(209,866)
	----	---------	---------
Net debt	727	( 226,758)	( 226,031)
	----	---------	---------