FIT Remuneration Consultants LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC364396

FIT Remuneration Consultants LLP

Filleted Unaudited Financial Statements

31 March 2026

FIT Remuneration Consultants LLP

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		21,006	22,833

Current assets

Stocks		633,259	676,316
Debtors	6	678,977	911,939
Cash at bank and in hand		501,828	355,696
		------------	------------
		1,814,064	1,943,951

Creditors: amounts falling due within one year	7	282,103		233,849
		------------		------------
Net current assets			1,531,961	1,710,102
			------------	------------
Total assets less current liabilities			1,552,967	1,732,935
			------------	------------
Net assets			1,552,967	1,732,935
			------------	------------

Represented by:

Loans and other debts due to members

Other amounts	8		990,467	1,250,435

Members' other interests

Members' capital classified as equity	562,500	482,500
Other reserves	–	–
	------------	------------
	1,552,967	1,732,935
	------------	------------

Total members' interests

Amounts due from members		(40,252)	–
Loans and other debts due to members	8	990,467	1,250,435
Members' other interests		562,500	482,500
		------------	------------
		1,512,715	1,732,935
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

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) 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 .

FIT Remuneration Consultants LLP

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the members and authorised for issue on 20 April 2026 , and are signed on their behalf by:

Mr J G Lee

Designated Member

Registered number: OC364396

FIT Remuneration Consultants LLP

Notes to the Financial Statements

Year ended 31 March 2026

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 1 Duke Street, London, W1U 3EA.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A 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' issued in December 2018 (SORP 2018).

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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 FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. 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. 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 Profit and Loss Account and are equity appropriations in the Balance Sheet. Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, may be 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 Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	8% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 8 (2025: 8 ).

5.	Tangible assets

	Motor vehicles	Total
	£	£
Cost
At 1 April 2025 and 31 March 2026	61,636	61,636
	--------	--------
Depreciation
At 1 April 2025	38,803	38,803
Charge for the year	1,827	1,827
	--------	--------
At 31 March 2026	40,630	40,630
	--------	--------
Carrying amount
At 31 March 2026	21,006	21,006
	--------	--------
At 31 March 2025	22,833	22,833
	--------	--------

6.	Debtors

	2026	2025
	£	£
Trade debtors	514,003	756,174
Other debtors	164,974	155,765
	---------	---------
	678,977	911,939
	---------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	31,090	12,600
Social security and other taxes	106,196	113,559
Other creditors	144,817	107,690
	---------	---------
	282,103	233,849
	---------	---------

8.	Loans and other debts due to members

	2026	2025
	£	£
Amounts owed to members in respect of profits	990,467	1,250,435
	---------	------------

9.	Related party transactions

In the opinion of the members there is no controlling party as defined by financial reporting Standard No 8 "Related party disclosures".