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

REGISTERED NUMBER: OC440900

FIT Remuneration Implementation LLP

Filleted Unaudited Financial Statements

31 March 2026

FIT Remuneration Implementation LLP

Statement of Financial Position

31 March 2026

	2026	2025
Note	£	£

Current assets

Stocks		10,269	8,587
Debtors	4	38,680	17,881
Cash at bank and in hand		7,353	3,528
		--------	--------
		56,302	29,996

Creditors: amounts falling due within one year	5	35,928	17,914
		--------	--------
Net current assets		20,374	12,082
		--------	--------
Total assets less current liabilities		20,374	12,082
		--------	--------

Represented by:

Loans and other debts due to members

Other amounts	6	15,374	7,082

Members' other interests

Members' capital classified as equity	5,000	5,000
Other reserves	–	–
	--------	--------
	20,374	12,082
	--------	--------

Total members' interests

Amounts due from members		(15,463)	–
Loans and other debts due to members	6	15,374	7,082
Members' other interests		5,000	5,000
		--------	--------
		4,911	12,082
		--------	--------

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 Implementation 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 Lee

Designated Member

Registered number: OC440900

FIT Remuneration Implementation 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 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 comprehensive income 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 comprehensive income 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 comprehensive income 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'.

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.

4.	Debtors

	2026	2025
	£	£
Trade debtors	12,629	8,411
Other debtors	26,051	9,470
	--------	--------
	38,680	17,881
	--------	--------

5. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	18,150	–
Social security and other taxes	457	593
Other creditors	17,321	17,321
	--------	--------
	35,928	17,914
	--------	--------

6.	Loans and other debts due to members

	2026	2025
	£	£
Amounts owed to members in respect of profits	15,374	7,082
	--------	-------