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REGISTERED NUMBER: 07218504 (England and Wales)















H2 EQUITY PARTNERS LIMITED

Audited Financial Statements

for the Year Ended 31 December 2021






H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)






Contents of the Financial Statements
for the year ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


H2 EQUITY PARTNERS LIMITED

Company Information
for the year ended 31 December 2021







DIRECTORS: S Gilbert
H2 Equity Partners Fund Management BV (Represented by P H L Kalverboer)





REGISTERED OFFICE: 41 Bedford Square
Greater London
London
WC1B 3HX





REGISTERED NUMBER: 07218504 (England and Wales)





AUDITORS: Phoenix Business Associates Limited
Chartered Certified Accountants
Statutory Auditors
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW

H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)

Statement of Financial Position
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 917,483 361,534
Investments 5 - 1,672,451
917,483 2,033,985

CURRENT ASSETS
Debtors 6 985,723 1,181,090
Cash at bank 325,166 526,590
1,310,889 1,707,680
CREDITORS
Amounts falling due within one year 7 1,080,184 1,013,123
NET CURRENT ASSETS 230,705 694,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,148,188

2,728,542

PROVISIONS FOR LIABILITIES 8 112,050 61,953
NET ASSETS 1,036,138 2,666,589

CAPITAL AND RESERVES
Called up share capital 200 221
Share premium - 1,672,231
Retained earnings 1,035,938 994,137
SHAREHOLDERS' FUNDS 1,036,138 2,666,589

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2022 and were signed on its behalf by:




S Gilbert - Director



H2 Equity Partners Fund Management BV (Represented by P H L Kalverboer) - Director


H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)

Notes to the Financial Statements
for the year ended 31 December 2021

1. STATUTORY INFORMATION

H2 Equity Partners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

On 11th March 2020 the World Health Organisation declared the Covid-19 virus a Pandemic. Whilst this has presented difficult logistical trading conditions and restrictions to work within, the company does not operate in sectors that have been materially affected by the Pandemic. As UK lockdown restrictions had been lifted at the date of approval of the accounts the Directors are pleased that the company has managed to trade through such a difficult period whilst still generating profit and maintaining healthy reserves.

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

Determine whether any leases entered into by the company as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Determine the recoverability of all debtors at the balance sheet date by reference to amounts received after the balance sheet date and before the date of approval of the financial statements. In addition, for any unpaid debtors at the date of approval of the financial statements a review has been made to assess recoverability of such items and where any doubt as to the recoverability exists, the debtor has been written down to its recoverable amount.

Determining whether any items which would be construed as a financial instrument within the meaning of FRS 102 has been included within the financial statements at the required fair value where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the period of the lease
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost


H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors
Short term trade 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 rate of interest.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. Any material liability is included within creditors due within one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 8 ) .

H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 299,619 227,456 527,075
Additions 281,059 387,296 668,355
At 31 December 2021 580,678 614,752 1,195,430
DEPRECIATION
At 1 January 2021 40,327 125,214 165,541
Charge for year 45,791 66,615 112,406
At 31 December 2021 86,118 191,829 277,947
NET BOOK VALUE
At 31 December 2021 494,560 422,923 917,483
At 31 December 2020 259,292 102,242 361,534

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31/12/21 31/12/20
£    £   
Brought forward - 972,138
Additions - 700,313
- 1,672,451

Fixed asset investments comprised the capital membership of Cooperatieve H2 Equity Partners Fund V U.A. and which were returned to the members during the year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 77,055 76,966
Amounts owed by group undertakings 523,253 -
Amounts owed by participating interests - 442,923
Other debtors 385,415 661,201
985,723 1,181,090

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade creditors 187,044 51,332
Amounts owed to group undertakings 76,230 -
Taxation and social security 101,053 143,069
Other creditors 715,857 818,722
1,080,184 1,013,123

H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

8. PROVISIONS FOR LIABILITIES
31/12/21 31/12/20
£    £   
Deferred tax 112,050 61,953

Deferred
tax
£   
Balance at 1 January 2021 61,953
Charge to Income Statement during year 50,097
Balance at 31 December 2021 112,050

The deferred tax provision relates to accelerated capital allowances on the purchase of various items of plant & equipment and property refurbishment costs.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David R Hill F.C.C.A. (Senior Statutory Auditor)
for and on behalf of Phoenix Business Associates Limited

10. OTHER FINANCIAL COMMITMENTS

The company has total operating lease commitments at the balance sheet date on leases for land and buildings expiring over five years of £3,333,000 (2020 : £3,733,000).

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.