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REGISTERED NUMBER: OC313610 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

EUROPEAN CO-INVESTMENT PARTNERS LLP

EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


EUROPEAN CO-INVESTMENT PARTNERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DESIGNATED MEMBERS: Mr A Beaton
Mr D Smith
Mr L F Giacometti





REGISTERED OFFICE: St Mary's Barn
Somerton Road
Ardley
Oxfordshire
OX27 7PF





REGISTERED NUMBER: OC313610 (England and Wales)





AUDITORS: Acuity Professional Partnership LLP
Chartered Accountants and Statutory Auditors
Unit 2.02 High Weald House,
Glovers End
Bexhill
East Sussex
United Kingdom
TN39 5ES

EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,118,632 1,057,083

CURRENT ASSETS
Debtors 5 202,321 176,679
Cash at bank 23,855 75,529
226,176 252,208
CREDITORS
Amounts falling due within one year 6 26,413 53,735
NET CURRENT ASSETS 199,763 198,473
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,318,395

1,255,556

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

448,185

418,766

MEMBERS' OTHER INTERESTS
Capital accounts 406,032 406,032
Other reserves 464,178 430,758
1,318,395 1,255,556

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 448,185 418,766
Members' other interests 870,210 836,790
Amounts due from members 5 (134,426 ) (137,706 )
1,183,969 1,117,850

EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18 October 2023 and were signed by:





Mr D Smith - Designated member

EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

European Co-Investment Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

GOING CONCERN
The financial statements have been prepared on a going concern basis based on the continued support of the members.

FINANCIAL INSTRUMENTS
Financial instruments are recognised in the LLP's balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment is discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

TURNOVER
Turnover represents amounts recoverable from clients for consultancy services provided during the year. It is measured at the fair value of the consideration received or receivable, including recoverable expenses but excluding Value Added Tax. The LLP charges its consultancy fees on a monthly basis.

CAPITAL INTRODUCTION AND REPAYMENT
The members decide the amounts of capital required during the year with reference to the requirements of the business and the Financial Conduct Authority regulations. No interest is paid on capital. On leaving the partnership, a member's capital is transferred to a new member or repaid as soon as funds are available to do so without causing a winding up of the LLP.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MEMBERS PROFIT SHARE AND DRAWINGS
The level of member's profit share and drawings are agreed between the members during the year.

To the extent the profit allocations exceed drawings, the excess profit is included in the Statement of financial position under amounts due to members within one year. Where drawings exceed the allocated profits the excess is included in debtors.

OTHER RESERVES
The other reserves consists of unrealized gains and losses on investments held by the LLP and is non distributable.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
Cost or valuation
At 1 July 2022 1,057,083
Revaluations 33,420
Exchange differences 28,129
At 30 June 2023 1,118,632
Net book value
At 30 June 2023 1,118,632
At 30 June 2022 1,057,083


EUROPEAN CO-INVESTMENT PARTNERS LLP (REGISTERED NUMBER: OC313610)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,895 38,973
Other debtors 134,426 137,706
202,321 176,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 288 116
Taxation and social security 18,313 45,708
Other creditors 7,812 7,911
26,413 53,735

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members consist of other amounts due to members which are due within one year and do not contain members' capital treated as debt. They rank equally with debts due to ordinary creditors in the event of a winding up. No restrictions or limitations exist on the ability of the members to reduce these amounts.

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

The Report of the Auditors was unqualified.

Rachel Taylor FCA (Senior Statutory Auditor)
for and on behalf of Acuity Professional Partnership LLP

9. CONTINGENT LIABILITIES

The members, via the LLP, are beneficiaries of certain carried interest arrangements concluded with affiliates of the LLP's main client. Such arrangements customarily include "claw-back" and/or "forfeiture" provisions which are guaranteed by the LLP and counter-guaranteed by the individual member beneficiary personally. Given the conservative carried interest distribution policy of the client, the members of the LLP believe that it is most unlikely that such guarantees would crystallise or be called upon to secure the affected obligations. Therefore, no provision for this guarantee is included in these financial statements.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate single controlling party.