Registered number: OC300615
GRADIENT CAPITAL PARTNERS LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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GRADIENT CAPITAL PARTNERS LLP
CONTENTS
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Reconciliation of members' interests
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Notes to the financial statements
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GRADIENT CAPITAL PARTNERS LLP
INFORMATION
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1002 Point West
116 Cromwell Road
London
SW7 4XN
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Blick Rothenberg Limited
16 Great Queen Street
Covent Garden
London
WC2B 5AH
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REGISTERED NUMBER:OC300615
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GRADIENT CAPITAL PARTNERS LLP
BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Net assets attributable to members
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Members' capital classified as equity
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REGISTERED NUMBER:OC300615
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GRADIENT CAPITAL PARTNERS LLP
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
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 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 by:
The notes on pages 5 to 8 form part of these financial statements.
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GRADIENT CAPITAL PARTNERS LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024
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EQUITY
Members' other interests
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Members' capital (classified as equity)
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Loss for the year available for discretionary division among members
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Members' interests after profit for the year
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Loss for the period available for discretionary division among members
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Members' interests after profit for the period
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The notes on pages 5 to 8 form part of these financial statements.
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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.
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GRADIENT CAPITAL PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Gradient Capital Partners LLP is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales.
The LLP's registered address is 1002 Point West, 116 Cromwell Road, London, SW7 4XN.
The principal activity is investment fund management services.
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 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" published in December 2021.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. The members do not consider there are any key accounting estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
The members are also required to exercise judgment in applying the entity's accounting policies. Due to the straight forward nature of the business the members consider that no critical judgements have been made in applying the LLP's accounting policies.
The accounts have been prepared on the going concern basis as the members have undertaken to continue to extend support to the partnership to allow it to meet its liabilities as they fall due for a period of at least twelve months from the date of signing these accounts.
Turnover is recognised when and to the extent that a right to consideration is received in exchange for the provision of a service. On this basis, fees for investment management services are recognised on an accruals basis, and performance fees at the end of the performance period. Fees are stated exclusive of VAT.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
The estimated useful lives range as follows:
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GRADIENT CAPITAL PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
The LLP does not trade in financial instruments and all such instruments arise directly from
operations. All trade and other debtors are initially recognised at transaction value, as none contain in
substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment
where there is objective evidence based on observable data that the balance may be impaired. The
LLP does not hold collateral against its trade and other receivables so its exposure to credit risk is the
net balance of trade and other debtors after allowance for impairment. The LLP’s cash holdings
comprise on demand balances. All cash is held with banks with strong external credit ratings. Trade
and other creditors and accruals are initially recognised at transaction value as none represent a
financing transaction. They are only derecognised when they are extinguished. As the LLP only has
short term receivables and payables, its net current asset position is a reasonable measure of its
liquidity at any given time.
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Foreign currency translation
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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.
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Members' remuneration and interests
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Members' different participation rights are analysed separately into liability and equity elements.
Members' remuneration
Non-discretionary amounts becoming due to members in respect of participation rights in the profits of the LLP for an accounting period that give rise to liabilities are presented as an expense within the Statement of comprehensive income (within the heading Members' remuneration charged as an expense).
Amounts becoming due to members in respect of equity participation rights, following a discretionary division of profits, are debited directly to equity in the accounting period in which the division occurs. Such amounts are not presented as an expense within the Statement of comprehensive income.
Members' interests
Where the LLP has a contractual obligation to deliver cash or another financial asset to the member,
the capital is treated as debt. Where the LLP has an unconditional right to avoid delivering cash or
other financial assets to a member in respect of such amounts (i.e. repayment of the members' other
reserves is discretionary), it is treated as equity.
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GRADIENT CAPITAL PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
No provision for taxation is made, as any liability arising is assessable directly on the members of the LLP.
The LLP has no employees.
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Charge for the period on owned assets
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GRADIENT CAPITAL PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Accruals and deferred income
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S W Pagel is the ultimate controlling party of the LLP.
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