ACCOUNTS - Final Accounts

Registered number: OC301687

RED LOFT LIMITED LIABILITY PARTNERSHIP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

RED LOFT LIMITED LIABILITY PARTNERSHIP

REGISTERED NUMBER: OC301687

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		15,774		15,613
			15,774		15,613
Current assets
Stocks		490,772		455,238
Debtors: amounts falling due within one year	5	770,007		449,329
Cash at bank and in hand		528,241		350,917
		1,789,020		1,255,484
Creditors: Amounts Falling Due Within One Year	6	(1,084,449)		(796,406)
Net current assets			704,571		459,078
Total assets less current liabilities			720,345		474,691
Creditors: amounts falling due after more than one year	7		-		(8,333)
			720,345		466,358

Net assets			720,345		466,358

Represented by:
Loans and other debts due to members within one year
Other amounts	9		720,345		466,358
			720,345		466,358

			720,345		466,358

Total members' interests
Loans and other debts due to members	9		720,345		466,358
			720,345		466,358

Page 1

RED LOFT LIMITED LIABILITY PARTNERSHIP

REGISTERED NUMBER: OC301687

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 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 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 10 July 2026.

D Sutcliffe

Designated member

The notes on pages 4 to 10 form part of these financial statements.

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		RED LOFT LIMITED LIABILITY PARTNERSHIP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 MARCH 2026


	Equity Members' other interests	Debt Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Other reserves	Other amounts	Total
	£	£	£
Amounts due to members		466,358
Amounts due from members		-
Balance at 31 March 2025	-	466,358	466,358
Profit for the year available for discretionary division among members	977,288	-	977,288
Members' interests after profit for the year	977,288	466,358	1,443,646
Other division of profits	(977,288)	977,288	-
Drawings on account and distribution of profit	-	(723,301)	(723,301)
Amounts due to members		720,345
Amounts due from members		-
Balance at 31 March 2026	-	720,345	720,345

The notes on pages 4 to 10 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.Accounting policies

1.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

1.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

1.3

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.

1.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

1.5

Interest income

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

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RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.Accounting policies (continued)

1.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

1.8

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

1.9

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.

1.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.Accounting policies (continued)

1.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	25%	straight line
				Office equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.11

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.

1.12

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.

1.13

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.

2.	General information

Red Loft Limited Liability Partnership is incorporated in the United Kingdom as a limited liability partnership under the Limited Liability Partnerships Act 2000.

Its registered number is OC301687.

Its Registered office is:
Fifth Floor
Crystal Gate
28-30 Worship Street
London
England
EC2A 2AH

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RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

3.

Employees

The average monthly number of employees, including directors, during the year was 27 (2025 - 30).

4.	Tangible fixed assets

		Plant and machinery	Office equipment	Total
		£	£	£
	Cost or valuation
	At 1 April 2025	910	26,935	27,845
	Additions	-	13,483	13,483
	At 31 March 2026	910	40,418	41,328
	Depreciation
	At 1 April 2025	455	11,777	12,232
	Charge for the year on owned assets	303	13,019	13,322
	At 31 March 2026	758	24,796	25,554
	Net book value
	At 31 March 2026	152	15,622	15,774
	At 31 March 2025	455	15,158	15,613

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RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.

Debtors

					2026	2025
					£	£


	Trade debtors	672,419	411,179
	Prepayments and accrued income	97,588	38,150
		770,007	449,329

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

	Bank loans	8,333	50,000
	Trade creditors	520,392	349,825
	Amounts owed to related parties	238,302	166,439
	Other taxation and social security	256,770	237,981
	Factoring creditor/ (debtor)	(33,273)	(8,835)
	Other creditors	83	84
	Accruals and deferred income	93,842	912
		1,084,449	796,406

7.	Creditors: Amounts falling due after more than one year
					2026	2025
					£	£

	Bank loans	-	8,333
		-	8,333

Page 8

RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	Loans
	Analysis of the maturity of loans is given below:
					2026	2025
					£	£

	Amounts falling due within one year
	Bank loans	8,333	50,000
		8,333	50,000
	Amounts falling due 1-2 years
	Bank loans	-	8,333
		-	8,333


		8,333	58,333

9.	Loans and other debts due to members

					2026	2025
					£	£


	Other amounts due to members	720,345	466,358
		720,345	466,358

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

					2026	2025
					£	£


	Falling due within one year	720,345	466,358
		720,345	466,358

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

Page 9

RED LOFT LIMITED LIABILITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

10.	Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £38,755 (March 2025 -£46,291) .

Page 10