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RQ SERVICES (UK) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
RQ Services (UK) LLP is dormant throughout the period. The LLP is incoporated in England, UK and the address of its registered office is Tower 42 Floor 15, 25 Old Broad Street, London, EC2N 1HQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with 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 Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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Members' remuneration and distribution of profits
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Profits are distributed at the absolute discretion of the management board / designated members. The LLP retains an unconditional right to avoid the delivery of cash or other assets to members in respect of a period's profits until a formal decision to divide those profits has been made.
Undivided profits are retained within equity as "Other reserves". When a discretionary division of profits occurs, it is accounted for as an equity appropriation. The divided amount is transferred from equity reserves and recognized as a financial liability under "Loans and other debts due to members".
Monthly or ad hoc drawings paid to members prior to a formal profit division are recorded as "Amounts owed by members" within debtors.
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