Vecta Risk Partners LLP Filleted Accounts Cover
Vecta Risk Partners LLP
Registered No. OC413064
Information for Filing with the Registrar
31 December 2021
Vecta Risk Partners LLP Balance Sheet Registrar
at
31 December 2021
Registered No.
OC413064
Notes
2021
2020
£
£
Fixed assets
Tangible assets
6
4,229
-
4,229
-
Current assets
Debtors
7
64,146
-
Cash at bank and in hand
41,459
-
105,605
-
Creditors: Amounts falling due within one year
8
(32,621)
(173,990)
Net current assets/(liabilities)
72,984
(173,990)
Total assets less current liabilities
77,213
(173,990)
Creditors: Amounts falling due after more than one year
9
-
(1,100,000)
Net assets/(liabilities) attributable to members
77,213
(1,273,990)
Represented by:
Members' other interests
Other reserves
77,213
(1,273,990)
77,213
(1,273,990)
77,213
(1,273,990)
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 31 December 2021 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 Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 03 August 2022
And signed on its behalf by designated member:
V.B. Townend
Designated member
03 August 2022
Vecta Risk Partners LLP Notes to the Accounts Registrar
for the year ended 31 December 2021
1
General information
Its registered number is: OC413064
Its registered office is:
3 Lloyd's Avenue
London
England
EC3N 3DS
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
On 1st July 2021 Castel Underwriting Agencies Ltd sold its share of the partnership to the individual members. Following the sale of its share in the partnership, Castel Underwriting Agencies Ltd resigned as a corporate member of the LLP.
Going concern
The Members are satisfied that the LLP remains a going concern and have prepared the accounts on this basis.
2
Accounting policies
Members' remuneration and division of profits
Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.The LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Furniture, fittings and equipment
20% Reducing balance
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
3
Information in relation to members
2021
2020
Number
Number
The average number of members during the year :
3
4
2021
2020
£
£
Salaries
330,500
236,667
330,500
236,667
4
Employees
2021
2020
Number
Number
The average number of persons employed during the year was:
0
0
5
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost
Additions
5,2865,286
At 31 December 2021
5,2865,286
Depreciation
Charge for the year
1,0571,057
At 31 December 2021
1,0571,057
Net book values
At 31 December 2021
4,2294,229
6
Debtors
2021
2020
£
£
Other debtors
64,146-
64,146-
7
Creditors:
amounts falling due within one year
2021
2020
£
£
Other loans
32,605-
Trade creditors
16-
Amounts owed to group undertakings
-173,990
32,621173,990
8
Creditors:
amounts falling due after more than one year
2021
2020
£
£
Amounts owed to group undertakings
-1,100,000
-1,100,000
9
Related party disclosures
2021
2020
Transactions with related parties
£
£
Name of related party
Castel Underwriting Agencies Ltd
Description of transaction and general amounts involved
Loans received
Amount due from/(to) the related party
(1,273,990)
-
Amounts written off in the period in respect of debts from/(to) the related party
1,273,990-
Vecta Risk Partners LLPOC41306431 December 202101 January 2021false03 August 2022BTCSoftware AP Solution 2022 9.3.019.3.01OC4130642021-01-012021-12-31OC4130642021-12-31OC413064bus:RegisteredOffice2021-01-012021-12-31OC413064core:FurnitureFittingsToolsEquipment2021-01-012021-12-31OC4130642020-01-012020-12-31OC413064core:FurnitureFittingsToolsEquipment2021-12-31OC4130642020-12-31OC413064core:WithinOneYear2021-12-31OC413064core:WithinOneYear2020-12-31OC413064core:AfterOneYear2021-12-31OC413064core:AfterOneYear2020-12-31OC413064core:EntityWithJointControlOrSignificantInfluence12021-01-012021-12-31OC413064core:EntityWithJointControlOrSignificantInfluence12021-12-31OC413064core:EntityWithJointControlOrSignificantInfluence12020-12-31OC413064core:EntityWithJointControlOrSignificantInfluence12020-01-012020-12-31OC4130642021-01-01OC413064bus:SmallEntities2021-01-012021-12-31OC413064bus:FullAccounts2021-01-012021-12-31OC413064bus:AuditExempt-NoAccountantsReport2021-01-012021-12-31OC413064bus:PartnerLLP22021-01-012021-12-31OC413064bus:LimitedLiabilityPartnershipLLP2021-01-012021-12-31xbrli:pureiso4217:GBP